Booking Holdings Inc. $BKNG Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its holdings in Booking Holdings Inc. (NASDAQ:BKNG) by 38.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 639,160 shares of the business services provider’s stock after selling 397,047 shares during the period. Pictet Asset Management Holding SA owned about 0.09% of Booking worth $104,125,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in BKNG. BlackRock Inc. purchased a new position in shares of Booking during the 2nd quarter worth approximately $11,646,302,000. State Street Corp lifted its position in shares of Booking by 2,674.6% in 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 acquiring an additional 37,999,915 shares in the last quarter. Bank of Nova Scotia boosted its stake in shares of Booking by 1,497.3% during the first quarter. Bank of Nova Scotia now owns 870,520 shares of the business services provider’s stock valued at $3,665,168,000 after acquiring an additional 816,022 shares during the last quarter. Deutsche Bank AG acquired a new stake in shares of Booking during the second quarter valued at $1,691,186,000. Finally, Bank of New York Mellon Corp purchased a new stake in Booking during the 2nd quarter worth about $1,370,455,000. 92.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BKNG has been the topic of several analyst reports. Rosenblatt Securities decreased their price target on shares of Booking from $245.00 to $210.00 and set a “buy” rating on the stock in a research note on Wednesday, November 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $230.00 price target on shares of Booking in a research note on Wednesday, August 5th. BTIG Research reissued a “buy” rating and issued a $250.00 target price on shares of Booking in a research report on Wednesday, November 4th. Piper Sandler reissued a “neutral” rating and set a $200.00 price target (down from $215.00) on shares of Booking in a research report on Wednesday, November 4th. Finally, Bank of America decreased their target price on Booking from $232.00 to $219.00 and set a “buy” rating for the company in a research report on Wednesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $222.35.

Booking Price Performance

BKNG opened at $160.66 on Monday. The firm has a market cap of $119.48 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. Booking Holdings Inc. has a fifty-two week low of $146.28 and a fifty-two week high of $220.81. The company’s 50-day moving average price is $166.49 and its 200 day moving average price is $176.13.

Booking (NASDAQ:BKNG) last posted its earnings results on Tuesday, November 3rd. The business services provider reported $4.66 EPS for the quarter, beating the consensus estimate of $4.49 by $0.17. The company had revenue of $9.79 billion during the quarter, compared to analyst estimates of $9.55 billion. Booking had a negative return on equity of 89.54% and a net margin of 25.52%. The business’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $99.50 earnings per share. Research analysts anticipate that Booking Holdings Inc. will post 10.24 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Robert Mylod, Jr. sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director owned 14,000 shares in the company, valued at approximately $2,800,000. This represents a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ewout L. Steenbergen sold 20,000 shares of Booking stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $211.03, for a total transaction of $4,220,600.00. Following the completion of 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 77,425 shares of company stock valued at $16,004,164 in the last three months. 0.17% of the stock is owned by corporate insiders.

Trending Headlines about Booking

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 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.