Parallel Advisors LLC decreased its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG – Free Report) by 6.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 large investors have also recently made changes to their positions in BKNG. BlackRock Inc. bought a new stake in shares of Booking in the 2nd quarter worth approximately $11,646,302,000. State Street Corp increased its position in Booking by 2,674.6% during the 2nd quarter. State Street Corp now owns 39,420,711 shares of the business services provider’s stock valued at $7,026,348,000 after buying an additional 37,999,915 shares in the last quarter. Deutsche Bank AG bought a new position in Booking during the 2nd quarter valued at approximately $1,691,186,000. Bank of New York Mellon Corp purchased a new position in Booking during the second quarter valued at $1,370,455,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Booking by 2,525.5% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,101,866 shares of the business services provider’s stock valued at $1,087,597,000 after buying an additional 5,869,459 shares during the last quarter. 92.42% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have commented on BKNG shares. Royal Bank Of Canada dropped their target price on Booking from $220.00 to $205.00 and set an “outperform” rating on the stock in a report on Wednesday. Mizuho set a $205.00 price target on Booking in a report on Wednesday. BTIG Research reaffirmed a “buy” rating and issued a $250.00 price target on shares of Booking in a research report on Wednesday. Argus upped their price target on shares of Booking from $210.00 to $245.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Finally, UBS Group cut their price objective on shares of Booking from $274.00 to $265.00 and set a “buy” rating on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $222.35.
Get Our Latest Stock Analysis on BKNG
Booking Stock Performance
Shares of BKNG stock traded down $8.06 during mid-day trading on Friday, hitting $160.66. The company’s stock had a trading volume of 7,907,758 shares, compared to its average volume of 6,818,136. The stock has a market cap of $120.72 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 0.96 and a beta of 1.17. Booking Holdings Inc. has a 52-week low of $146.28 and a 52-week high of $220.81. The business has a 50-day moving average price of $166.49 and a 200 day moving average price of $176.13.
Booking (NASDAQ:BKNG – Get Free Report) last released its quarterly earnings data 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. Booking had a negative return on equity of 102.96% and a net margin of 25.53%. The company had revenue of $9.79 billion for the quarter, compared to analysts’ expectations of $9.55 billion. During the same period last year, the firm posted $99.50 earnings per share. Booking’s revenue was down 1.2% compared to the same quarter last year. Equities research analysts predict that Booking Holdings Inc. will post 10.48 EPS for the current fiscal 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
Insiders Place Their Bets
In related news, Director Robert J. Mylod, Jr. sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director owned 14,000 shares in the company, valued at $2,800,000. This represents a 6.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Wittman sold 375 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $211.00, for a total transaction of $79,125.00. Following the completion of the sale, the director owned 16,133 shares in the company, valued at $3,404,063. This represents a 2.27% 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 77,425 shares of company stock worth $16,004,164 in the last quarter. Insiders own 0.17% of the company’s stock.
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.
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