9,302 Booking Holdings Inc. $BKNG Shares Sold by Trek Financial LLC

Trek Financial LLC reduced its position in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 79.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,354 shares of the business services provider’s stock after selling 9,302 shares during the period. Trek Financial LLC’s holdings in Booking were worth $383,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Booking in the second quarter valued at $11,646,302,000. State Street Corp raised its stake in Booking by 2,674.6% in the second quarter. State Street Corp now owns 39,420,711 shares of the business services provider’s stock valued at $7,026,348,000 after buying an additional 37,999,915 shares in the last quarter. Deutsche Bank AG purchased a new stake in Booking during the 2nd quarter worth about $1,691,186,000. Bank of New York Mellon Corp purchased a new stake in Booking during the 2nd quarter worth about $1,370,455,000. Finally, Ninety One UK Ltd lifted its holdings in Booking by 1.0% during the 3rd quarter. Ninety One UK Ltd now owns 6,489,929 shares of the business services provider’s stock worth $1,057,274,000 after buying an additional 64,584 shares during the last quarter. Institutional investors and hedge funds own 92.42% of the company’s stock.

Booking Trading Up 1.2%

BKNG stock opened at $155.67 on Wednesday. The company has a market capitalization of $116.97 billion, a P/E ratio of 17.23, a PEG ratio of 0.96 and a beta of 1.17. Booking Holdings Inc. has a twelve month low of $146.28 and a twelve month high of $220.81. The business has a 50 day simple moving average of $168.99 and a 200-day simple moving average of $176.70.

Booking (NASDAQ:BKNG) last announced its earnings results on Tuesday, November 3rd. The business services provider reported $4.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.49 by $0.17. The business had revenue of $9.79 billion for the quarter, compared to analyst estimates of $9.55 billion. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the firm posted $99.50 earnings per share. Research analysts predict that Booking Holdings Inc. will post 10.48 EPS for the current fiscal year.

Insider Activity

In related news, Director Vanessa Wittman sold 375 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $211.00, for a total transaction of $79,125.00. Following the completion of the sale, the director owned 16,133 shares in the company, valued at $3,404,063. This represents a 2.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ewout L. Steenbergen sold 20,000 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $211.03, for a total transaction of $4,220,600.00. Following the transaction, the chief financial officer directly owned 59,794 shares in the company, valued at $12,618,327.82. The trade was a 25.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 77,425 shares of company stock worth $16,004,164 over the last 90 days. 0.17% of the stock is owned by corporate insiders.

Trending Headlines about Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking reported earnings of $4.66 per share, above analysts’ estimates of about $4.48–$4.49. Earnings coverage also pointed to growth in adjusted revenue, suggesting underlying operations performed better than the GAAP figures imply. Booking Holdings tops Q3 earnings estimates
• Neutral Sentiment: UBS lowered its price target to $265 from $274 but kept a Buy rating, signaling continued optimism while trimming its expectations. UBS rating and price target
• Negative Sentiment: A roughly $900 million FTC-related charge weighed on reported revenue. One report put GAAP revenue down about 1% year over year, despite growth in adjusted revenue, making the headline results look weaker. Reuters report on the FTC-related charge
• Negative Sentiment: Reports cited global conflicts weighing on travel demand and warned that growth could stall in the fourth quarter. That outlook may temper the market’s response to the earnings beat. Booking profit and sales report

Wall Street Analysts Forecast Growth

BKNG has been the subject of several analyst reports. Robert W. Baird set a $230.00 price objective on Booking in a research report on Wednesday, August 5th. Argus raised their target price on Booking from $210.00 to $245.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Wells Fargo & Company reissued a “reduce” rating and set a $190.00 target price (down from $220.00) on shares of Booking in a research report on Wednesday, October 7th. Cantor Fitzgerald decreased their target price on Booking from $220.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, October 12th. Finally, Benchmark upped their price target on Booking from $220.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Booking has an average rating of “Moderate Buy” and an average target price of $232.81.

Booking Company Profile

Booking Holdings Inc is a global online travel and restaurant-reservation company that connects consumers with travel providers through digital platforms and mobile applications. Its services include accommodations, flights, rental cars, cruises, vacation packages, restaurant reservations and other travel-related offerings.

The company operates a portfolio of well-known brands, including Booking.com, Priceline, Agoda, KAYAK, OpenTable, Rentalcars.com and Kayak-associated travel services.