Booking Holdings Inc. $BKNG Stake Trimmed by Greenleaf Trust

Greenleaf Trust decreased its position in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 7.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 65,198 shares of the business services provider’s stock after selling 5,622 shares during the period. Greenleaf Trust’s holdings in Booking were worth $10,621,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new position in Booking in the 2nd quarter worth about $11,646,302,000. State Street Corp boosted its stake in shares of Booking by 2,674.6% during 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 purchasing an additional 37,999,915 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of Booking during the second quarter valued at about $1,691,186,000. Bank of New York Mellon Corp bought a new stake in shares of Booking during the second quarter worth about $1,370,455,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Booking by 2,525.5% during 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 worth $1,087,597,000 after purchasing an additional 5,869,459 shares during the last quarter. Institutional investors and hedge funds own 92.42% of the company’s stock.

Key Booking News

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking’s global travel leadership, high margins and strong cash-flow generation remain important supports for the investment case. Its cash position could provide flexibility for share repurchases, investment and other shareholder returns. Booking vs. Coupang: Which Stock Is the Better Buy in November?
• Positive Sentiment: Investors will be watching for continued progress in loyalty adoption and the Connected Trip initiative, which aims to increase customer engagement and cross-selling across accommodations, flights, rental cars and other travel services. Strong execution could improve longer-term growth expectations. The Connected Trip Gamble
• Neutral Sentiment: BKNG has attracted unusually high investor attention and options activity ahead of earnings. This may increase short-term volatility, but the available reports do not indicate whether traders are positioning for a rise or decline. Booking Sees Unusually Large Options Volume
• Neutral Sentiment: Analysts are focused not only on revenue and earnings per share but also on operating metrics and other key indicators for the September quarter. These estimates could set the bar for the earnings reaction. Exploring Analyst Estimates for Booking Holdings Q3 Earnings
• Negative Sentiment: Currency headwinds could reduce the reported value of international bookings and earnings, while travel disruptions may weigh on demand or create additional costs. Booking Holdings Q3 Earnings Ahead
• Negative Sentiment: Higher marketing spending may pressure profitability even if bookings and revenue continue to grow. Investors are therefore likely to scrutinize margins, guidance and management’s outlook. Booking Holdings Q3 Earnings Ahead: What’s in Store for the Stock?
• Negative Sentiment: The shares have declined substantially and are trading near their 12-month low, reflecting elevated expectations risk ahead of the report. Any weak guidance or disappointment in Connected Trip adoption could add further pressure.

Insider Buying and Selling at Booking

In other Booking news, Director Vanessa Wittman sold 375 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $211.00, for a total value of $79,125.00. Following the completion of the transaction, the director owned 16,133 shares in the company, valued at $3,404,063. This trade represents a 2.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 dated Wednesday, August 12th. The shares were sold at an average price of $211.03, for a total value of $4,220,600.00. Following the sale, the chief financial officer owned 59,794 shares in the company, valued at approximately $12,618,327.82. This represents a 25.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 78,425 shares of company stock worth $16,210,864 in the last three months. 0.17% of the stock is currently owned by corporate insiders.

Booking Price Performance

NASDAQ BKNG opened at $148.13 on Monday. The firm has a market cap of $111.30 billion, a P/E ratio of 16.39, a price-to-earnings-growth ratio of 0.93 and a beta of 1.17. The company’s 50 day moving average is $171.26 and its 200-day moving average is $177.25. Booking Holdings Inc. has a 12-month low of $146.28 and a 12-month high of $220.81.

Booking (NASDAQ:BKNG) last announced its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.11. Booking had a negative return on equity of 102.96% and a net margin of 25.53%. The company had revenue of $7.35 billion during the quarter, compared to analysts’ expectations of $7.19 billion. During the same period in the previous year, the business earned $55.40 earnings per share. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities analysts expect that Booking Holdings Inc. will post 10.48 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BKNG. Oppenheimer reiterated an “outperform” rating and issued a $240.00 price target (up from $215.00) on shares of Booking in a research report on Wednesday, August 5th. Mizuho set a $240.00 price objective on Booking in a research report on Wednesday, August 5th. Piper Sandler reaffirmed a “neutral” rating and issued a $215.00 price objective (up from $195.00) on shares of Booking in a research note on Wednesday, August 5th. Robert W. Baird set a $230.00 price objective on Booking in a research note on Wednesday, August 5th. Finally, Cantor Fitzgerald reduced their target price on Booking from $220.00 to $170.00 and set a “neutral” rating on the stock in a report on Monday, October 12th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $233.07.

About Booking

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.