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

Pictet Asset Management Holding SA lessened its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 38.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 639,160 shares of the business services provider’s stock after selling 397,047 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Booking were worth $104,125,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Formidable Asset Management LLC raised its position in Booking by 2,432.7% in the third quarter. Formidable Asset Management LLC now owns 8,510 shares of the business services provider’s stock worth $1,517,000 after acquiring an additional 8,174 shares in the last quarter. United Advisor Group LLC grew its stake in shares of Booking by 90.5% in the 3rd quarter. United Advisor Group LLC now owns 3,296 shares of the business services provider’s stock worth $537,000 after purchasing an additional 1,566 shares during the last quarter. Twin Peaks Capital Ltd bought a new stake in shares of Booking in the 3rd quarter worth approximately $1,222,000. May Hill Capital LLC raised its holdings in shares of Booking by 3.2% in the 3rd quarter. May Hill Capital LLC now owns 2,857 shares of the business services provider’s stock worth $465,000 after purchasing an additional 89 shares in the last quarter. Finally, Alps Advisors Inc. lifted its stake in Booking by 36.6% during the third quarter. Alps Advisors Inc. now owns 32,437 shares of the business services provider’s stock valued at $5,284,000 after purchasing an additional 8,686 shares during the last quarter. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Booking Price Performance

Shares of Booking stock opened at $160.66 on Monday. Booking Holdings Inc. has a 12 month low of $146.28 and a 12 month high of $220.81. The stock has a market cap of $119.48 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. The business has a fifty day simple moving average of $166.49 and a 200-day simple moving average of $176.13.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on BKNG. Wells Fargo & Company restated a “positive” rating and issued a $179.00 price target (down from $190.00) on shares of Booking in a research report on Wednesday. Weiss Ratings lowered Booking from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 30th. The Goldman Sachs Group restated a “neutral” rating and issued a $175.00 target price on shares of Booking in a report on Wednesday. Evercore restated an “outperform” rating and issued a $270.00 target price on shares of Booking in a report on Monday, August 24th. Finally, Rosenblatt Securities cut their target price on Booking from $245.00 to $210.00 and set a “buy” rating on the stock in a research report on Wednesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $222.35.

Key Headlines Impacting 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

Insider Activity

In other Booking news, insider Paulo Pisano sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $203.48, for a total value of $610,440.00. Following the transaction, the insider owned 73,400 shares in the company, valued at approximately $14,935,432. This represents a 3.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter Millones, Jr. sold 50,050 shares of Booking stock in a transaction on Monday, August 17th. The shares were sold at an average price of $207.59, for a total transaction of $10,389,879.50. Following the sale, the vice president directly owned 375,025 shares of the company’s stock, valued at $77,851,439.75. This trade represents a 11.77% decrease in their position. 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 currently owned by insiders.

About Booking

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.