Blueshift Asset Management LLC Cuts Stake in TripAdvisor, Inc. (NASDAQ:TRIP)

Key Points

• Blueshift Asset Management LLC reduced its stake in TripAdvisor, cutting holdings by 39.4% to 86,940 shares after selling 56,495 shares in the first quarter.
• While Blueshift sold substantial shares, Federated Hermes Inc. dramatically increased its position in TripAdvisor by 9,651.8%, now owning 449,558 shares valued at $6.37 million.
• In a recent analyst report, TripAdvisor was downgraded from a "strong-buy" rating to a "buy," with a consensus price target of $17.56 amidst varied ratings from multiple analysts.

Blueshift Asset Management LLC cut its holdings in shares of TripAdvisor, Inc. (NASDAQ:TRIP - Free Report) by 39.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 86,940 shares of the travel company's stock after selling 56,495 shares during the quarter. Blueshift Asset Management LLC owned 0.06% of TripAdvisor worth $1,232,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Federated Hermes Inc. raised its position in TripAdvisor by 9,651.8% in the 1st quarter. Federated Hermes Inc. now owns 449,558 shares of the travel company's stock valued at $6,370,000 after purchasing an additional 444,948 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of TripAdvisor by 23.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,738 shares of the travel company's stock worth $506,000 after buying an additional 6,884 shares during the period. Legato Capital Management LLC acquired a new stake in TripAdvisor in the first quarter valued at approximately $2,450,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in TripAdvisor in the first quarter valued at approximately $1,053,000. Finally, Allianz Asset Management GmbH lifted its stake in TripAdvisor by 6.6% in the first quarter. Allianz Asset Management GmbH now owns 35,600 shares of the travel company's stock worth $504,000 after acquiring an additional 2,200 shares during the last quarter. Hedge funds and other institutional investors own 98.99% of the company's stock.

Insider Buying and Selling at TripAdvisor

In other TripAdvisor news, CEO Almir Ambeskovic sold 16,643 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $15.33, for a total transaction of $255,137.19. Following the completion of the sale, the chief executive officer directly owned 15,931 shares of the company's stock, valued at $244,222.23. This represents a 51.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.10% of the company's stock.

Analysts Set New Price Targets

TRIP has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of TripAdvisor from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 14th. JPMorgan Chase & Co. boosted their target price on shares of TripAdvisor from $11.00 to $13.00 and gave the stock an "underweight" rating in a research note on Friday, May 9th. Citigroup started coverage on TripAdvisor in a research note on Wednesday, May 28th. They issued a "neutral" rating and a $16.00 price target on the stock. DA Davidson set a $16.25 price target on TripAdvisor in a report on Tuesday, July 8th. Finally, UBS Group upped their price objective on TripAdvisor from $16.00 to $18.00 and gave the stock a "neutral" rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $17.56.

TripAdvisor Price Performance

TRIP stock opened at $17.49 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.88. The company has a market capitalization of $2.48 billion, a P/E ratio of 47.27, a PEG ratio of 2.66 and a beta of 1.28. The business has a 50 day simple moving average of $15.40 and a 200-day simple moving average of $14.90. TripAdvisor, Inc. has a twelve month low of $10.43 and a twelve month high of $18.66.

TripAdvisor (NASDAQ:TRIP - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The travel company reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.09. TripAdvisor had a net margin of 2.94% and a return on equity of 10.68%. The firm had revenue of $398.00 million during the quarter, compared to analysts' expectations of $386.94 million. During the same quarter in the prior year, the business earned $0.12 EPS. TripAdvisor's quarterly revenue was up .8% compared to the same quarter last year. As a group, equities analysts anticipate that TripAdvisor, Inc. will post 0.46 EPS for the current year.

TripAdvisor Profile

TripAdvisor, Inc operates as an online travel company, primarily engages in the provision of travel guidance products and services worldwide. The company operates in three segments: Brand Tripadvisor, Viator, and TheFork. The Brand Tripadvisor segment offers travel guidance platforms for travelers to discover, generate, and share authentic user-generated content in the form of ratings and reviews for destinations, points-of-interest, experiences, accommodations, restaurants, and cruises.

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