Booking (NASDAQ:BKNG) CEO Sells $3,100,331.36 in Stock

Key Points

• CEO Glenn Fogel sold $3,100,331.36 of Booking stock (16,726 shares) on April 15 under a pre-arranged Rule 10b5-1 plan, leaving him with 298,174 shares (a 5.31% reduction, ~ $55.27M post-sale).
• Quarterly results topped expectations: Booking reported $48.80 EPS vs. a $1.92 consensus and revenue of $6.35B (vs. $6.12B), with revenue up 16% year-over-year and a net margin of 20.08%.
• Shares traded at $184.56 (down ~0.6%), market cap ~$146.1B, P/E 27.8, 12‑month range $150.62–$233.58; the company pays a $0.42 quarterly dividend (annualized $1.68, ~0.9% yield).

Booking Holdings Inc. (NASDAQ:BKNG - Get Free Report) CEO Glenn Fogel sold 16,726 shares of the company's stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $185.36, for a total value of $3,100,331.36. Following the transaction, the chief executive officer directly owned 298,174 shares in the company, valued at approximately $55,269,532.64. This represents a 5.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Booking Stock Down 0.6%

NASDAQ:BKNG traded down $1.13 during trading hours on Thursday, hitting $184.56. 5,850,256 shares of the stock were exchanged, compared to its average volume of 9,723,505. The company's 50 day moving average is $171.58 and its two-hundred day moving average is $194.67. Booking Holdings Inc. has a twelve month low of $150.62 and a twelve month high of $233.58. The company has a market capitalization of $146.14 billion, a P/E ratio of 27.77, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20.

Booking (NASDAQ:BKNG - Get Free Report) last posted its quarterly earnings data on Wednesday, February 18th. The business services provider reported $48.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $46.88. Booking had a negative return on equity of 128.99% and a net margin of 20.08%.The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.12 billion. During the same quarter in the prior year, the business earned $1.66 EPS. The business's revenue for the quarter was up 16.0% compared to the same quarter last year. On average, equities research analysts expect that Booking Holdings Inc. will post 209.92 EPS for the current year.

Booking Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.68 annualized dividend and a yield of 0.9%. Booking's dividend payout ratio is currently 25.26%.

Hedge Funds Weigh In On Booking

Several institutional investors have recently modified their holdings of the business. BlueSky Wealth Advisors LLC bought a new position in shares of Booking during the 1st quarter valued at about $396,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Booking during the 1st quarter valued at about $7,056,000. Purpose Unlimited Inc. bought a new position in shares of Booking during the 4th quarter valued at about $1,339,000. Cornerstone Planning LLC bought a new position in shares of Booking during the 4th quarter valued at about $536,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of Booking by 13.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,327 shares of the business services provider's stock valued at $17,820,000 after purchasing an additional 398 shares in the last quarter. Institutional investors own 92.42% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BKNG shares. Citizens Jmp reissued a "market perform" rating on shares of Booking in a research note on Wednesday, February 4th. Morgan Stanley raised Booking from an "equal weight" rating to an "overweight" rating and cut their price target for the company from $246.00 to $220.00 in a research note on Monday, February 23rd. BTIG Research reissued a "buy" rating and issued a $250.00 price target on shares of Booking in a research note on Tuesday, April 7th. DA Davidson reissued a "buy" rating and issued a $240.00 price target on shares of Booking in a research note on Wednesday, April 8th. Finally, BNP Paribas Exane cut their price target on Booking from $244.00 to $240.00 and set an "outperform" rating on the stock in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $234.47.

Booking Company Profile

Booking Holdings Inc is a global online travel company that operates a portfolio of consumer brands and technology platforms that facilitate the search for and booking of travel services. The company's businesses focus on accommodations, transportation and related travel services through consumer-facing websites and apps as well as partner distribution channels. Booking Holdings was originally founded as Priceline in the late 1990s and adopted the Booking Holdings name in 2018; it is headquartered in Norwalk, Connecticut.

Its core offerings include online reservations for hotels, vacation rentals and other lodging; flight and car rental search and booking; and ancillary services that support travel planning and on-property experiences.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.