Booking Holdings Inc. $BKNG Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its position in Booking Holdings Inc. (NASDAQ:BKNG) by 30.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 50,467 shares of the business services provider’s stock after selling 22,554 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Booking were worth $212,473,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Booking during the third quarter valued at approximately $26,000. Daytona Street Capital LLC bought a new position in Booking in the 4th quarter worth approximately $27,000. Legacy Bridge LLC acquired a new stake in Booking in the 4th quarter valued at approximately $27,000. Camelot Portfolios LLC acquired a new stake in Booking in the 4th quarter valued at approximately $27,000. Finally, Osbon Capital Management LLC bought a new stake in Booking during the 4th quarter valued at $27,000. 92.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Vanessa Ames Wittman sold 1,125 shares of the company’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $192.00, for a total value of $216,000.00. Following the transaction, the director owned 16,050 shares in the company, valued at $3,081,600. This represents a 6.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn D. Fogel sold 16,726 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $185.36, for a total transaction of $3,100,331.36. Following the completion of the sale, the chief executive officer directly owned 298,174 shares of the company’s stock, valued at $55,269,532.64. This trade represents a 5.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 80,351 shares of company stock valued at $13,545,706. Corporate insiders own 0.16% of the company’s stock.

Booking Price Performance

Booking stock opened at $181.46 on Friday. Booking Holdings Inc. has a fifty-two week low of $150.14 and a fifty-two week high of $233.58. The firm’s 50 day simple moving average is $169.06 and its 200-day simple moving average is $182.47. The company has a market cap of $140.61 billion, a P/E ratio of 23.87, a price-to-earnings-growth ratio of 1.08 and a beta of 1.08.

Booking (NASDAQ:BKNG) last posted its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.06. The firm had revenue of $5.53 billion during the quarter, compared to analyst estimates of $5.52 billion. Booking had a net margin of 22.23% and a negative return on equity of 117.14%. The company’s revenue was up 16.2% on a year-over-year basis. During the same quarter last year, the business posted $0.99 EPS. On average, analysts expect that Booking Holdings Inc. will post 10.44 EPS for the current fiscal year.

Booking Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, June 5th. Booking’s dividend payout ratio is currently 22.11%.

Wall Street Analysts Forecast Growth

BKNG has been the subject of several recent analyst reports. BTIG Research reissued a “buy” rating and issued a $250.00 price target on shares of Booking in a research note on Friday, May 29th. Citigroup cut their price objective on shares of Booking from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Wells Fargo & Company set a $215.00 price objective on shares of Booking and gave the stock an “equal weight” rating in a report on Wednesday, April 29th. B. Riley Financial decreased their target price on shares of Booking from $272.00 to $264.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Finally, Tigress Financial reaffirmed a “strong-buy” rating and issued a $260.00 price target (up from $244.00) on shares of Booking in a research note on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $227.14.

More Booking News

Here are the key news stories impacting Booking this week:

• Positive Sentiment: BTIG reportedly initiated or reiterated a Buy rating on Booking Holdings, adding to the generally optimistic analyst backdrop. Booking Holdings (BKNG) Gets a Buy from BTIG
• Positive Sentiment: Some investors view the recent selloff as a buying opportunity, arguing that Booking remains a high-quality travel platform with strong cash flow, margins, and fair-to-attractive valuation. Booking Holdings: Selloff May Be More Of An Opportunity Than Warning
• Positive Sentiment: Another bullish note said Booking has a strong earnings track record, leadership in online travel, and potential upside from temporary concerns being overdone. Booking Holdings: Strong Track Record At A Discount
• Positive Sentiment: Booking shares rallied after crude oil prices fell below $70, a move seen as potentially lowering travel costs and boosting booking demand. Booking (BKNG) Shares Skyrocket, What You Need To Know
• Neutral Sentiment: Several articles focused on Wall Street’s generally bullish consensus on Booking, with the average brokerage recommendation at Buy, though the pieces also questioned how useful analyst ratings are as a signal. Is Booking Holdings (BKNG) a Buy as Wall Street Analysts Look Optimistic?
• Neutral Sentiment: Bernstein was reported to have a Hold rating on BKNG, which may temper some of the more upbeat sentiment around the stock. Booking Holdings (BKNG) Receives a Hold from Bernstein
• Negative Sentiment: Booking also saw a recent one-day decline that outpaced the broader market, reflecting some ongoing volatility after the stock’s earlier run-up. Here’s Why Booking Holdings (BKNG) Fell More Than Broader Market

About Booking

Booking Holdings Inc is a global online travel company that operates a portfolio of consumer brands and technology platforms that facilitate the search for and booking of travel services. The company’s businesses focus on accommodations, transportation and related travel services through consumer-facing websites and apps as well as partner distribution channels. Booking Holdings was originally founded as Priceline in the late 1990s and adopted the Booking Holdings name in 2018; it is headquartered in Norwalk, Connecticut.

Its core offerings include online reservations for hotels, vacation rentals and other lodging; flight and car rental search and booking; and ancillary services that support travel planning and on-property experiences.