Sumitomo Mitsui Asset Management Company LTD cut its stake in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 2.2% during the second quarter, Holdings Channel reports. The firm owned 19,739 shares of the business services provider’s stock after selling 452 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in The Priceline Group were worth $36,922,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Parkwood LLC purchased a new stake in The Priceline Group during the second quarter valued at $325,000. Boston Advisors LLC increased its position in shares of The Priceline Group by 3.2% in the second quarter. Boston Advisors LLC now owns 20,646 shares of the business services provider’s stock valued at $38,619,000 after buying an additional 645 shares during the period. Acadian Asset Management LLC increased its position in shares of The Priceline Group by 2,256.6% in the second quarter. Acadian Asset Management LLC now owns 13,621 shares of the business services provider’s stock valued at $25,476,000 after buying an additional 13,043 shares during the period. Baskin Financial Services Inc. increased its position in shares of The Priceline Group by 1.4% in the second quarter. Baskin Financial Services Inc. now owns 6,891 shares of the business services provider’s stock valued at $12,890,000 after buying an additional 97 shares during the period. Finally, Appropriate Balance Financial Services Inc. increased its position in shares of The Priceline Group by 3.8% in the second quarter. Appropriate Balance Financial Services Inc. now owns 581 shares of the business services provider’s stock valued at $311,000 after buying an additional 21 shares during the period. 95.01% of the stock is currently owned by hedge funds and other institutional investors.

Shares of The Priceline Group Inc. (PCLN) opened at 1854.17 on Friday. The Priceline Group Inc. has a one year low of $1,392.44 and a one year high of $2,067.99. The company has a market cap of $90.96 billion, a P/E ratio of 39.38 and a beta of 1.42. The company’s 50-day moving average price is $1,950.91 and its 200 day moving average price is $1,809.82. The Priceline Group also saw unusually large options trading on Wednesday. Stock investors bought 17,507 call options on the stock. This is an increase of approximately 255% compared to the typical volume of 4,928 call options.

The Priceline Group (NASDAQ:PCLN) last issued its quarterly earnings data on Tuesday, August 8th. The business services provider reported $15.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $14.25 by $0.89. The Priceline Group had a return on equity of 33.10% and a net margin of 20.51%. The company had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the previous year, the company posted $13.93 earnings per share. The Priceline Group’s revenue was up 18.3% compared to the same quarter last year. On average, equities research analysts anticipate that The Priceline Group Inc. will post $74.80 earnings per share for the current year.

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PCLN has been the topic of a number of research reports. Cantor Fitzgerald restated an “overweight” rating and set a $1,850.00 target price on shares of The Priceline Group in a research report on Monday, April 17th. Macquarie set a $1,970.00 price target on shares of The Priceline Group and gave the company a “buy” rating in a research report on Tuesday, April 18th. Cowen and Company increased their target price on The Priceline Group from $1,850.00 to $2,000.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 19th. Credit Suisse Group increased their target price on The Priceline Group from $1,925.00 to $2,050.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 2nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $2,200.00 target price (up from $1,800.00) on shares of The Priceline Group in a research note on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $1,909.30.

In related news, Director Jan L. Docter sold 1,500 shares of The Priceline Group stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $1,857.67, for a total value of $2,786,505.00. Following the completion of the sale, the director now owns 346 shares of the company’s stock, valued at $642,753.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gillian Tans sold 122 shares of The Priceline Group stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $1,814.00, for a total value of $221,308.00. Following the completion of the sale, the chief executive officer now directly owns 6,044 shares of the company’s stock, valued at approximately $10,963,816. The disclosure for this sale can be found here. Insiders sold 1,744 shares of company stock valued at $3,245,648 in the last ninety days. 0.42% of the stock is currently owned by corporate insiders.

The Priceline Group Company Profile

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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Institutional Ownership by Quarter for The Priceline Group (NASDAQ:PCLN)

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