Pictet Asset Management Holding SA Has $21.83 Million Stock Holdings in MakeMyTrip Limited $MMYT

Pictet Asset Management Holding SA trimmed its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 16.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 585,369 shares of the technology company’s stock after selling 119,084 shares during the quarter. Pictet Asset Management Holding SA owned about 0.53% of MakeMyTrip worth $21,828,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MMYT. Schroder Investment Management Group lifted its stake in shares of MakeMyTrip by 13.8% during the 4th quarter. Schroder Investment Management Group now owns 7,186,704 shares of the technology company’s stock worth $590,172,000 after buying an additional 869,728 shares during the last quarter. Baillie Gifford & Co. grew its stake in MakeMyTrip by 2.3% in the 4th quarter. Baillie Gifford & Co. now owns 5,155,036 shares of the technology company’s stock valued at $423,332,000 after buying an additional 114,975 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in MakeMyTrip by 17.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,448,388 shares of the technology company’s stock valued at $201,064,000 after acquiring an additional 371,066 shares during the period. Wasatch Advisors LP raised its holdings in MakeMyTrip by 64.2% in the 1st quarter. Wasatch Advisors LP now owns 2,339,741 shares of the technology company’s stock valued at $87,249,000 after acquiring an additional 914,402 shares during the period. Finally, Artisan Partners Limited Partnership lifted its position in MakeMyTrip by 1.8% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,322,204 shares of the technology company’s stock worth $190,699,000 after acquiring an additional 40,712 shares during the last quarter. 51.89% of the stock is currently owned by institutional investors and hedge funds.

MakeMyTrip Trading Up 9.2%

NASDAQ MMYT opened at $58.19 on Thursday. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 232.76 and a beta of 0.98. The company has a 50 day moving average of $46.18 and a 200-day moving average of $55.20. MakeMyTrip Limited has a 1-year low of $32.67 and a 1-year high of $104.99.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MMYT shares. The Goldman Sachs Group set a $84.00 price objective on MakeMyTrip in a report on Saturday. Citigroup reissued a “buy” rating on shares of MakeMyTrip in a report on Tuesday, May 19th. Wall Street Zen upgraded MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, Zacks Research lowered MakeMyTrip from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, MakeMyTrip currently has a consensus rating of “Moderate Buy” and an average price target of $92.33.

MakeMyTrip Company Profile

MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company’s offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.

Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India’s leading travel technology firms.