Pictet & Cie Europe SA Lowers Holdings in The Priceline Group Inc. (PCLN)
Pictet & Cie Europe SA trimmed its position in The Priceline Group Inc. (NASDAQ:PCLN) by 74.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 311 shares of the business services provider’s stock after selling 909 shares during the quarter. Pictet & Cie Europe SA’s holdings in The Priceline Group were worth $569,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of PCLN. Swiss National Bank increased its position in The Priceline Group by 2.7% during the 2nd quarter. Swiss National Bank now owns 179,652 shares of the business services provider’s stock valued at $336,043,000 after buying an additional 4,800 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new position in shares of The Priceline Group during the third quarter valued at approximately $36,616,000. Pacer Advisors Inc. raised its holdings in shares of The Priceline Group by 4.4% during the second quarter. Pacer Advisors Inc. now owns 1,647 shares of the business services provider’s stock valued at $3,081,000 after acquiring an additional 69 shares during the last quarter. Norinchukin Bank The raised its holdings in shares of The Priceline Group by 4.0% during the second quarter. Norinchukin Bank The now owns 5,942 shares of the business services provider’s stock valued at $11,115,000 after acquiring an additional 228 shares during the last quarter. Finally, Equitec Proprietary Markets LLC acquired a new position in shares of The Priceline Group during the third quarter valued at approximately $549,000. Institutional investors and hedge funds own 95.10% of the company’s stock.
A number of equities analysts have commented on the company. Credit Suisse Group reissued an “outperform” rating and set a $2,070.00 target price (down previously from $2,150.00) on shares of The Priceline Group in a report on Wednesday, August 9th. Macquarie increased their target price on The Priceline Group from $2,000.00 to $2,200.00 and gave the company a “positive” rating in a report on Wednesday, August 9th. Deutsche Bank AG reissued a “hold” rating and set a $2,075.00 target price (up previously from $1,950.00) on shares of The Priceline Group in a report on Wednesday, August 9th. Royal Bank Of Canada increased their target price on The Priceline Group from $2,000.00 to $2,050.00 and gave the company an “outperform” rating in a report on Wednesday, August 9th. Finally, Wells Fargo & Company reissued a “hold” rating and set a $1,850.00 target price on shares of The Priceline Group in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $2,020.52.
The Priceline Group Inc. (NASDAQ PCLN) traded up $4.87 on Friday, hitting $1,731.65. The stock had a trading volume of 522,300 shares, compared to its average volume of 460,139. The firm has a market capitalization of $85,440.00, a PE ratio of 23.19, a P/E/G ratio of 1.37 and a beta of 1.43. The Priceline Group Inc. has a twelve month low of $1,459.49 and a twelve month high of $2,067.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.52 and a quick ratio of 2.52.
The Priceline Group (NASDAQ:PCLN) last issued its quarterly earnings results on Monday, November 6th. The business services provider reported $35.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $34.31 by $0.91. The firm had revenue of $4.43 billion for the quarter, compared to analysts’ expectations of $4.34 billion. The Priceline Group had a return on equity of 33.02% and a net margin of 29.20%. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $29.69 EPS. equities research analysts forecast that The Priceline Group Inc. will post 74.42 earnings per share for the current fiscal year.
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In related news, CEO Gillian Tans sold 122 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $1,845.97, for a total value of $225,208.34. Following the transaction, the chief executive officer now owns 5,677 shares in the company, valued at approximately $10,479,571.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.24% of the company’s stock.
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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