Booking Holdings Inc. $BKNG Stock Position Lessened by Parallel Advisors LLC

Parallel Advisors LLC decreased its position in Booking Holdings Inc. (NASDAQ:BKNG) by 6.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 68,891 shares of the business services provider’s stock after selling 4,450 shares during the period. Parallel Advisors LLC’s holdings in Booking were worth $11,223,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Bogart Wealth LLC increased its position in shares of Booking by 3,475.0% in the second quarter. Bogart Wealth LLC now owns 143 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 139 shares during the period. Wilkerson Advisory Group LLC boosted its holdings in shares of Booking by 3,550.0% during the second quarter. Wilkerson Advisory Group LLC now owns 146 shares of the business services provider’s stock worth $26,000 after purchasing an additional 142 shares during the period. First Financial Corp IN boosted its holdings in shares of Booking by 2,400.0% during the second quarter. First Financial Corp IN now owns 150 shares of the business services provider’s stock worth $27,000 after purchasing an additional 144 shares during the period. Roble Belko & Company Inc boosted its holdings in shares of Booking by 2,400.0% during the second quarter. Roble Belko & Company Inc now owns 150 shares of the business services provider’s stock worth $27,000 after purchasing an additional 144 shares during the period. Finally, Kings Path Partners LLC bought a new stake in shares of Booking in the third quarter worth about $29,000. 92.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 value of $79,125.00. Following the sale, the director directly owned 16,133 shares of the company’s stock, valued at $3,404,063. This represents a 2.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ewout L. Steenbergen sold 20,000 shares of the 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 completion of the transaction, the chief financial officer owned 59,794 shares of the company’s stock, valued at approximately $12,618,327.82. This trade 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 quarter. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Bank of America lowered their price target on Booking from $232.00 to $219.00 and set a “buy” rating for the company in a research report on Wednesday. Mizuho set a $205.00 price objective on Booking in a research report on Wednesday. JPMorgan Chase & Co. reduced their target price on Booking from $248.00 to $205.00 and set an “overweight” rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $230.00 target price on shares of Booking in a report on Wednesday, August 5th. Finally, UBS Group decreased their target price on Booking from $274.00 to $265.00 and set a “buy” rating for the company in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $222.35.

Booking Stock Performance

Shares of NASDAQ BKNG traded down $8.06 during midday trading on Friday, hitting $160.66. 7,907,758 shares of the company traded hands, compared to its average volume of 6,818,136. Booking Holdings Inc. has a 12-month low of $146.28 and a 12-month high of $220.81. The stock has a 50-day moving average price of $166.49 and a 200 day moving average price of $176.13. The firm has a market cap of $120.72 billion, a P/E ratio of 17.33, a P/E/G ratio of 0.96 and a beta of 1.17.

Booking (NASDAQ:BKNG) last issued its quarterly earnings data on Tuesday, November 3rd. The business services provider reported $4.66 EPS for the quarter, topping the consensus estimate of $4.49 by $0.17. The business had revenue of $9.79 billion during the quarter, compared to analyst estimates of $9.55 billion. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. Booking’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the business posted $99.50 earnings per share. As a group, equities analysts expect that Booking Holdings Inc. will post 10.48 earnings per share for the current year.

Booking News Roundup

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking’s AI initiatives are drawing favorable attention. A Seeking Alpha article upgraded its rating, arguing AI could help drive revenue, while CEO Glenn Fogel described AI as a “big positive” for the company. Booking Holdings: AI Proves To Be A Revenue Multiplier (Rating Upgrade) AI is starting to help Booking’s business. Its stock should benefit
• Positive Sentiment: TD Cowen reiterated its Buy rating. Separately, Booking-backed Lola launched a service to help members get access to sought-after restaurant reservations and event tickets, with more cities planned. TD Cowen Reaffirms Their Buy Rating on Booking Holdings Lola Launches Lola VIP Drops
• Neutral Sentiment: Recent third-quarter results beat Booking’s own guidance on room nights, gross bookings and adjusted revenue, supporting the earlier share rally. These results provide a positive business backdrop, but may be outweighed today by competitive and analyst concerns. Booking Stock Jumps As Q3 Results Spotlight Margin Strength
• Negative Sentiment: Airbnb reported its fastest revenue growth in more than three years and raised its outlook, lifting its shares while Booking and Expedia fell. The news may renew concerns about competition and relative growth prospects in online travel. Airbnb Jumps on Growth and Raised Outlook; Booking and Expedia Fall
• Negative Sentiment: Several analyst actions point to a more cautious view: JPMorgan lowered its expectations, and Barclays and UBS cut their price targets. A downgrade also accompanied coverage of Booking shares, adding to near-term pressure. JPMorgan Lowers Expectations for Booking Barclays Lowers Booking Price Target UBS Cuts Booking Price Target

Booking Company Profile

Booking Holdings Inc is an online travel company that connects travelers with accommodations and other travel services. Through its digital platforms, customers can search for and book hotels, vacation rentals, flights, rental cars, attractions and other travel experiences.

The company operates a portfolio of consumer brands, including Booking.com, Priceline, Agoda, KAYAK, Rentalcars.com and OpenTable. Its services span accommodation reservations, travel search and comparison, car rentals, and restaurant reservations.

Booking Holdings traces its history to Priceline, which was founded in 1997.