Pier 88 Investment Partners LLC Has $270,000 Stock Holdings in Booking Holdings Inc. $BKNG

Pier 88 Investment Partners LLC decreased its position in Booking Holdings Inc. (NASDAQ:BKNG) by 97.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 50 shares of the business services provider’s stock after selling 1,600 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Booking were worth $270,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in BKNG. Halbert Hargrove Global Advisors LLC grew its stake in Booking by 150.0% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 5 shares of the business services provider’s stock worth $27,000 after buying an additional 3 shares during the last quarter. Westside Investment Management Inc. boosted its holdings in shares of Booking by 400.0% in the 2nd quarter. Westside Investment Management Inc. now owns 5 shares of the business services provider’s stock worth $29,000 after acquiring an additional 4 shares in the last quarter. Davis Capital Management bought a new stake in Booking during the 3rd quarter worth approximately $32,000. Barnes Dennig Private Wealth Management LLC increased its holdings in Booking by 100.0% during the 2nd quarter. Barnes Dennig Private Wealth Management LLC now owns 6 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 3 shares in the last quarter. Finally, Howard Hughes Medical Institute bought a new position in Booking in the 2nd quarter valued at $41,000. 92.42% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Glenn D. Fogel sold 953 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $5,181.34, for a total transaction of $4,937,817.02. Following the completion of the transaction, the chief executive officer owned 19,615 shares in the company, valued at approximately $101,631,984.10. The trade was a 4.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vanessa Ames Wittman sold 15 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $5,362.00, for a total transaction of $80,430.00. Following the completion of the sale, the director directly owned 702 shares of the company’s stock, valued at $3,764,124. The trade was a 2.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,324 shares of company stock valued at $17,190,323 over the last 90 days. 0.16% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BKNG has been the topic of several research analyst reports. TD Cowen restated a “buy” rating on shares of Booking in a report on Wednesday, December 3rd. KeyCorp increased their price objective on shares of Booking from $6,450.00 to $6,630.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Morgan Stanley set a $6,150.00 price objective on shares of Booking in a research report on Wednesday, October 29th. Mizuho set a $6,000.00 target price on shares of Booking in a research report on Wednesday, October 29th. Finally, Wells Fargo & Company raised their price target on shares of Booking from $5,523.00 to $5,954.00 and gave the company an “equal weight” rating in a report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6,209.94.

Booking Price Performance

Shares of NASDAQ BKNG opened at $5,107.28 on Tuesday. Booking Holdings Inc. has a fifty-two week low of $4,096.23 and a fifty-two week high of $5,839.41. The firm has a market capitalization of $164.61 billion, a P/E ratio of 33.19, a P/E/G ratio of 1.11 and a beta of 1.23. The company’s 50 day simple moving average is $5,197.07 and its 200 day simple moving average is $5,330.67.

Booking (NASDAQ:BKNG) last issued its earnings results on Tuesday, October 28th. The business services provider reported $99.50 EPS for the quarter, beating the consensus estimate of $95.56 by $3.94. Booking had a net margin of 19.37% and a negative return on equity of 134.86%. The company had revenue of $9.01 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter in the previous year, the company posted $83.39 EPS. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. Sell-side analysts expect that Booking Holdings Inc. will post 209.92 EPS for the current fiscal year.

Booking Profile

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.