Jeffery H. Boyd Sells 2,814 Shares of The Priceline Group Inc. (PCLN) Stock
The Priceline Group Inc. (NASDAQ:PCLN) CEO Jeffery H. Boyd sold 2,814 shares of The Priceline Group stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $1,467.98, for a total value of $4,130,895.72. Following the sale, the chief executive officer now owns 88,939 shares in the company, valued at $130,560,673.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of The Priceline Group Inc. (NASDAQ:PCLN) opened at 1490.44 on Friday. The company’s 50 day moving average price is $1,444.49 and its 200 day moving average price is $1,347.94. The Priceline Group Inc. has a 52-week low of $954.02 and a 52-week high of $1,501.79. The stock has a market cap of $73.67 billion, a PE ratio of 28.35 and a beta of 1.62.
The Priceline Group (NASDAQ:PCLN) last issued its quarterly earnings results on Thursday, August 4th. The company reported $13.93 EPS for the quarter, topping the Zacks’ consensus estimate of $12.69 by $1.24. The Priceline Group had a return on equity of 32.93% and a net margin of 27.08%. The company earned $2.55 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the previous year, the firm posted $12.45 EPS. The firm’s revenue was up 12.1% compared to the same quarter last year. On average, analysts anticipate that The Priceline Group Inc. will post $68.57 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of the company. Capital World Investors boosted its stake in shares of The Priceline Group by 38.0% in the second quarter. Capital World Investors now owns 1,235,836 shares of the company’s stock worth $1,542,830,000 after buying an additional 340,386 shares in the last quarter. Lone Pine Capital LLC boosted its stake in shares of The Priceline Group by 41.6% in the second quarter. Lone Pine Capital LLC now owns 1,120,758 shares of the company’s stock worth $1,399,165,000 after buying an additional 329,121 shares in the last quarter. Orbis Allan Gray Ltd purchased a new stake in shares of The Priceline Group during the first quarter worth approximately $251,864,000. Jennison Associates LLC boosted its stake in shares of The Priceline Group by 21.2% in the second quarter. Jennison Associates LLC now owns 858,165 shares of the company’s stock worth $1,071,342,000 after buying an additional 150,154 shares in the last quarter. Finally, BlackRock Investment Management LLC boosted its stake in shares of The Priceline Group by 73.6% in the second quarter. BlackRock Investment Management LLC now owns 216,593 shares of the company’s stock worth $270,397,000 after buying an additional 91,819 shares in the last quarter. 93.99% of the stock is owned by institutional investors.
Several research firms recently weighed in on PCLN. Zacks Investment Research lowered The Priceline Group from a “buy” rating to a “hold” rating in a research report on Wednesday. Vetr lowered The Priceline Group from a “strong-buy” rating to a “buy” rating and set a $1,598.32 price target on the stock. in a research report on Thursday, September 29th. Cantor Fitzgerald restated a “buy” rating and set a $1,560.00 price target (up from $1,453.49) on shares of The Priceline Group in a research report on Thursday, September 29th. Piper Jaffray Cos. restated a “buy” rating on shares of The Priceline Group in a research report on Thursday, August 25th. Finally, Jefferies Group reissued a “buy” rating and issued a $1,700.00 target price on shares of The Priceline Group in a report on Tuesday, August 23rd. Six investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $1,525.14.
About The Priceline Group
The Priceline Group Inc is a provider of travel and restaurant reservation and related services. The Company, through its online travel companies (OTCs), connects consumers wishing to make travel reservations with providers of travel services across the world. It offers consumers an array of accommodation reservations (including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties) through its Booking.com, priceline.com and agoda.com brands.
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