Harding Loevner LP cut its position in The Priceline Group Inc. (NASDAQ:PCLN) by 0.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 208,815 shares of the company’s stock after selling 1,021 shares during the period. The Priceline Group makes up about 2.2% of Harding Loevner LP’s investment portfolio, making the stock its 14th largest position. Harding Loevner LP owned approximately 0.42% of The Priceline Group worth $307,269,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Advisory Services Network LLC increased its stake in shares of The Priceline Group by 5.2% in the third quarter. Advisory Services Network LLC now owns 525 shares of the company’s stock worth $773,000 after buying an additional 26 shares during the last quarter. Capital Investment Services of America Inc. bought a new stake in shares of The Priceline Group during the third quarter worth approximately $6,842,000. Bremer Trust National Association increased its stake in shares of The Priceline Group by 15.4% in the third quarter. Bremer Trust National Association now owns 2,526 shares of the company’s stock worth $3,717,000 after buying an additional 338 shares during the last quarter. Deane Retirement Strategies Inc. bought a new stake in shares of The Priceline Group during the third quarter worth approximately $1,682,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of The Priceline Group by 112.1% in the third quarter. BNP Paribas Arbitrage SA now owns 27,213 shares of the company’s stock worth $40,044,000 after buying an additional 14,382 shares during the last quarter. Hedge funds and other institutional investors own 94.10% of the company’s stock.

Institutional Ownership by Quarter for The Priceline Group (NASDAQ:PCLN)

Shares of The Priceline Group Inc. (NASDAQ:PCLN) traded up 1.12% during mid-day trading on Monday, reaching $1524.18. The company’s stock had a trading volume of 296,359 shares. The Priceline Group Inc. has a 52 week low of $954.02 and a 52 week high of $1,600.93. The firm has a 50-day moving average of $1,482.69 and a 200-day moving average of $1,386.86. The firm has a market capitalization of $75.21 billion, a PE ratio of 38.91 and a beta of 1.69.

The Priceline Group (NASDAQ:PCLN) last issued its quarterly earnings results on Monday, November 7th. The company reported $31.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $29.88 by $1.30. The company earned $3.69 billion during the quarter, compared to the consensus estimate of $3.61 billion. The Priceline Group had a return on equity of 34.70% and a net margin of 18.91%. The Priceline Group’s revenue was up 18.9% on a year-over-year basis. During the same period in the previous year, the firm posted $25.35 EPS. Equities research analysts forecast that The Priceline Group Inc. will post $64.44 earnings per share for the current fiscal year.

A number of brokerages have recently commented on PCLN. Vetr upgraded The Priceline Group from a “sell” rating to a “strong-buy” rating and set a $1,744.70 target price on the stock in a research note on Thursday, November 10th. Stifel Nicolaus upgraded The Priceline Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $1,650.00 to $1,900.00 in a research report on Thursday, November 10th. Raymond James Financial Inc. set a $1,700.00 price target on The Priceline Group and gave the stock a “buy” rating in a research report on Tuesday, November 8th. Oppenheimer Holdings Inc. reiterated a “buy” rating and set a $1,640.00 price target on shares of The Priceline Group in a research report on Tuesday, November 8th. Finally, Wells Fargo & Co. reiterated a “market perform” rating on shares of The Priceline Group in a research report on Tuesday, November 8th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $1,622.45.

In other news, insider Glenn D. Fogel sold 1,000 shares of the company’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $1,434.75, for a total transaction of $1,434,750.00. Following the completion of the sale, the insider now directly owns 25,131 shares in the company, valued at approximately $36,056,702.25. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeffery H. Boyd sold 2,814 shares of the company’s stock in a transaction on Monday, October 3rd. The stock was 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 of the company’s stock, valued at $130,560,673.22. The disclosure for this sale can be found here. 0.42% of the stock is owned by company insiders.

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.

5 Day Chart for NASDAQ:PCLN

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