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

Trek Financial LLC reduced its stake in Booking Holdings Inc. (NASDAQ:BKNG) by 79.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 quarter.

A number of other large investors also recently bought and sold shares of BKNG. BlackRock Inc. purchased a new stake in shares of Booking in the 2nd quarter valued at approximately $11,646,302,000. State Street Corp increased its holdings in Booking by 2,674.6% in the 2nd quarter. State Street Corp now owns 39,420,711 shares of the business services provider’s stock valued at $7,026,348,000 after purchasing an additional 37,999,915 shares during the last quarter. Deutsche Bank AG acquired a new stake in Booking in the 2nd quarter valued at approximately $1,691,186,000. Bank of New York Mellon Corp acquired a new stake in Booking in the 2nd quarter valued at approximately $1,370,455,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Booking by 2,525.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,101,866 shares of the business services provider’s stock valued at $1,087,597,000 after purchasing an additional 5,869,459 shares during the period. Institutional investors and hedge funds own 92.42% of the company’s stock.

Insider Buying and Selling

In other news, Director Vanessa Wittman sold 375 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $211.00, for a total transaction of $79,125.00. Following the sale, the director owned 16,133 shares of the company’s stock, valued at approximately $3,404,063. This represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $211.03, for a total value of $4,220,600.00. Following the sale, the chief financial officer directly owned 59,794 shares in the company, valued at $12,618,327.82. This represents a 25.06% decrease in their position. 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 a total of 77,425 shares of company stock worth $16,004,164 over the last three months. 0.17% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Robert W. Baird set a $230.00 price target on Booking in a research note on Wednesday, August 5th. DA Davidson set a $240.00 price objective on Booking in a research note on Thursday, August 6th. Wedbush lifted their price objective on Booking from $211.00 to $247.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Wells Fargo & Company reiterated a “reduce” rating and issued a $190.00 price objective (down from $220.00) on shares of Booking in a report on Wednesday, October 7th. Finally, Weiss Ratings lowered Booking from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $232.81.

Booking Stock Performance

NASDAQ BKNG opened at $155.67 on Wednesday. The firm has a market cap of $116.97 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 0.96 and a beta of 1.17. The firm has a 50 day simple moving average of $168.99 and a 200-day simple moving average of $176.70. Booking Holdings Inc. has a one year low of $146.28 and a one year high of $220.81.

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

Booking News Roundup

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

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.