5,622 Booking Holdings Inc. $BKNG Shares Sold by Greenleaf Trust

Greenleaf Trust trimmed its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 7.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,198 shares of the business services provider’s stock after selling 5,622 shares during the quarter. Greenleaf Trust’s holdings in Booking were worth $10,621,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Nippon Life Global Investors Americas Inc. bought a new position in Booking during the 3rd quarter worth $22,592,000. Leonard Rickey Investment Advisors P.L.L.C. lifted its stake in Booking by 7.4% in the third quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,890 shares of the business services provider’s stock valued at $960,000 after buying an additional 405 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Booking during the 3rd quarter valued at about $94,957,000. Vise Technologies Inc. grew its position in Booking by 11.7% in the 3rd quarter. Vise Technologies Inc. now owns 38,436 shares of the business services provider’s stock worth $6,262,000 after purchasing an additional 4,011 shares during the last quarter. Finally, Cidel Asset Management Inc. grew its position in Booking by 8.6% in the 3rd quarter. Cidel Asset Management Inc. now owns 3,669 shares of the business services provider’s stock worth $598,000 after purchasing an additional 292 shares during the last quarter. 92.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BKNG. BMO Capital Markets reissued an “outperform” rating and issued a $250.00 price objective (up from $240.00) on shares of Booking in a report on Wednesday, August 5th. Rosenblatt Securities started coverage on Booking in a research note on Tuesday, September 1st. They set a “buy” rating and a $245.00 target price on the stock. Truist Financial set a $216.00 price target on shares of Booking and gave the stock a “buy” rating in a research note on Wednesday, September 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $230.00 price objective on shares of Booking in a report on Wednesday, August 5th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $240.00 price objective (up from $215.00) on shares of Booking in a report on Wednesday, August 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Booking currently has a consensus rating of “Moderate Buy” and an average target price of $233.07.

Booking Price Performance

BKNG opened at $148.13 on Monday. The firm has a market capitalization of $111.30 billion, a P/E ratio of 16.39, a price-to-earnings-growth ratio of 0.93 and a beta of 1.17. The stock’s 50 day moving average price is $171.26 and its two-hundred day moving average price is $177.25. Booking Holdings Inc. has a 12-month low of $146.28 and a 12-month high of $220.81.

Booking (NASDAQ:BKNG) last posted its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.11. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The firm had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.19 billion. During the same quarter in the previous year, the company earned $55.40 earnings per share. The business’s revenue was up 8.1% compared to the same quarter last year. As a group, analysts anticipate that Booking Holdings Inc. will post 10.48 earnings per share for the current year.

Key Booking News

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking’s global travel leadership, high margins and strong cash-flow generation remain important supports for the investment case. Its cash position could provide flexibility for share repurchases, investment and other shareholder returns. Booking vs. Coupang: Which Stock Is the Better Buy in November?
• Positive Sentiment: Investors will be watching for continued progress in loyalty adoption and the Connected Trip initiative, which aims to increase customer engagement and cross-selling across accommodations, flights, rental cars and other travel services. Strong execution could improve longer-term growth expectations. The Connected Trip Gamble
• Neutral Sentiment: BKNG has attracted unusually high investor attention and options activity ahead of earnings. This may increase short-term volatility, but the available reports do not indicate whether traders are positioning for a rise or decline. Booking Sees Unusually Large Options Volume
• Neutral Sentiment: Analysts are focused not only on revenue and earnings per share but also on operating metrics and other key indicators for the September quarter. These estimates could set the bar for the earnings reaction. Exploring Analyst Estimates for Booking Holdings Q3 Earnings
• Negative Sentiment: Currency headwinds could reduce the reported value of international bookings and earnings, while travel disruptions may weigh on demand or create additional costs. Booking Holdings Q3 Earnings Ahead
• Negative Sentiment: Higher marketing spending may pressure profitability even if bookings and revenue continue to grow. Investors are therefore likely to scrutinize margins, guidance and management’s outlook. Booking Holdings Q3 Earnings Ahead: What’s in Store for the Stock?
• Negative Sentiment: The shares have declined substantially and are trading near their 12-month low, reflecting elevated expectations risk ahead of the report. Any weak guidance or disappointment in Connected Trip adoption could add further pressure.

Insider Activity at Booking

In other news, VP Peter Millones, Jr. sold 50,050 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $207.59, for a total value of $10,389,879.50. Following the completion of the sale, the vice president directly owned 375,025 shares in the company, valued at approximately $77,851,439.75. This trade represents a 11.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Wittman sold 375 shares of the business’s stock in a transaction dated 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 78,425 shares of company stock valued at $16,210,864. Insiders own 0.17% of the company’s stock.

Booking Company Profile

Booking Holdings Inc is a global online travel and restaurant-reservation company that connects consumers with travel providers through digital platforms and mobile applications. Its services include accommodations, flights, rental cars, cruises, vacation packages, restaurant reservations and other travel-related offerings.

The company operates a portfolio of well-known brands, including Booking.com, Priceline, Agoda, KAYAK, OpenTable, Rentalcars.com and Kayak-associated travel services.