Jennison Associates LLC Has $1.61 Billion Position in The Priceline Group Inc. (PCLN)
Jennison Associates LLC boosted its stake in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 6.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 862,773 shares of the business services provider’s stock after buying an additional 52,133 shares during the period. The Priceline Group makes up 1.7% of Jennison Associates LLC’s holdings, making the stock its 15th largest position. Jennison Associates LLC owned approximately 1.76% of The Priceline Group worth $1,613,834,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of PCLN. Harbour Capital Advisors LLC boosted its stake in The Priceline Group by 210,283.2% in the second quarter. Harbour Capital Advisors LLC now owns 978,282 shares of the business services provider’s stock valued at $523,000 after buying an additional 977,817 shares during the period. Renaissance Technologies LLC bought a new position in shares of The Priceline Group during the first quarter valued at approximately $358,128,000. C WorldWide Group Holding A S bought a new position in shares of The Priceline Group during the first quarter valued at approximately $189,324,000. Vanguard Group Inc. raised its position in shares of The Priceline Group by 3.0% in the first quarter. Vanguard Group Inc. now owns 3,204,680 shares of the business services provider’s stock valued at $5,704,234,000 after buying an additional 93,992 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in shares of The Priceline Group by 689.5% in the first quarter. Schroder Investment Management Group now owns 85,556 shares of the business services provider’s stock valued at $153,077,000 after buying an additional 74,719 shares in the last quarter. 94.52% of the stock is owned by institutional investors and hedge funds.
Shares of The Priceline Group Inc. (NASDAQ:PCLN) opened at 1807.06 on Wednesday. The stock has a market capitalization of $88.65 billion, a P/E ratio of 38.38 and a beta of 1.42. The stock’s 50 day moving average is $1,936.36 and its 200-day moving average is $1,827.19. The Priceline Group Inc. has a one year low of $1,402.67 and a one year high of $2,067.99.
The Priceline Group (NASDAQ:PCLN) last posted its quarterly earnings results on Tuesday, August 8th. The business services provider reported $15.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $14.25 by $0.89. The firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.99 billion. The Priceline Group had a return on equity of 33.10% and a net margin of 20.51%. The business’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $13.93 EPS. On average, equities research analysts expect that The Priceline Group Inc. will post $74.77 EPS for the current year.
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PCLN has been the topic of several recent analyst reports. Credit Suisse Group upped their price objective on shares of The Priceline Group from $1,925.00 to $2,050.00 and gave the stock an “outperform” rating in a report on Tuesday, May 2nd. Needham & Company LLC reiterated a “buy” rating and set a $2,200.00 target price (up from $1,800.00) on shares of The Priceline Group in a report on Wednesday, May 3rd. Deutsche Bank AG increased their target price on shares of The Priceline Group from $1,725.00 to $2,000.00 and gave the stock a “hold” rating in a report on Monday, May 8th. Raymond James Financial, Inc. reiterated an “outperform” rating and set a $2,070.00 target price (up from $1,915.00) on shares of The Priceline Group in a report on Monday, May 8th. Finally, Goldman Sachs Group, Inc. (The) increased their target price on shares of The Priceline Group from $1,750.00 to $1,850.00 and gave the stock a “neutral” rating in a report on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $1,924.32.
In other The Priceline Group news, CEO Gillian Tans sold 122 shares of the company’s stock in a transaction on Friday, July 14th. The stock was sold at an average price of $1,949.47, for a total value of $237,835.34. Following the transaction, the chief executive officer now directly owns 5,922 shares of the company’s stock, valued at approximately $11,544,761.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jan L. Docter sold 2,500 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $1,875.90, for a total value of $4,689,750.00. Following the completion of the transaction, the director now directly owns 320 shares in the company, valued at $600,288. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,867 shares of company stock worth $5,380,180. Insiders own 0.42% of the company’s stock.
About The Priceline Group
The Priceline Group Inc is a provider of travel and restaurant online reservation and related services. The Company, through its online travel companies (OTCs), connects consumers wishing to make travel reservations with providers of travel services across the world. It offers consumers an array of accommodation reservations (including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties) through its Booking.com, priceline.com and agoda.com brands.
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