Booking Holdings Inc. $BKNG Shares Sold by Boston Trust Walden Corp

Key Points

• Boston Trust Walden cut its Booking Holdings position by 16.7% in the third quarter, selling 37,402 shares and ending the period with 186,078 shares valued at about $30.3 million.
• Booking’s quarterly adjusted EPS of $4.66 topped the $4.49 consensus, with room-night growth and gross bookings exceeding guidance. However, the company flagged potential moderation in fourth-quarter travel demand and softer international demand.
• Analyst sentiment remains broadly positive, with a MarketBeat average rating of “Moderate Buy,” though several firms lowered price targets after results.

Boston Trust Walden Corp reduced its position in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 16.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 186,078 shares of the business services provider's stock after selling 37,402 shares during the period. Boston Trust Walden Corp's holdings in Booking were worth $30,314,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Bogart Wealth LLC raised its stake in shares of Booking by 3,475.0% during the second quarter. Bogart Wealth LLC now owns 143 shares of the business services provider's stock worth $25,000 after purchasing an additional 139 shares during the last quarter. Wilkerson Advisory Group LLC lifted its holdings in shares of Booking by 3,550.0% during the second quarter. Wilkerson Advisory Group LLC now owns 146 shares of the business services provider's stock worth $26,000 after purchasing an additional 142 shares during the period. First Financial Corp IN grew its position in Booking by 2,400.0% in the 2nd quarter. First Financial Corp IN now owns 150 shares of the business services provider's stock valued at $27,000 after buying an additional 144 shares during the last quarter. Roble Belko & Company Inc grew its position in Booking by 2,400.0% in the 2nd quarter. Roble Belko & Company Inc now owns 150 shares of the business services provider's stock valued at $27,000 after buying an additional 144 shares during the last quarter. Finally, Kings Path Partners LLC acquired a new position in Booking in the 3rd quarter valued at $29,000. 92.42% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking’s Q3 room-night growth and gross bookings exceeded its guidance, while adjusted EPS of $4.66 topped estimates of $4.49. The operating results and margin strength help support the bullish case despite the sales miss. Booking Holdings Q3 Earnings Beat on Travel Growth, Revenues Miss
• Positive Sentiment: CEO Glenn Fogel described AI as a potential positive for Booking, and the company is developing AI-related booking capabilities. Its AI-backed Lola assistant also launched a service for members seeking hard-to-get restaurant reservations and event tickets, adding a new experience offering. AI is starting to help Booking's business Lola Launches Lola VIP Drops
• Positive Sentiment: TD Cowen reaffirmed its Buy rating, reflecting continued analyst support for the shares. TD Cowen Reaffirms Their Buy Rating
• Negative Sentiment: Revenue fell short of analysts’ expectations, partly due to an FTC-related impact, and Booking warned of some moderation in travel demand in Q4. Softer international demand, higher airfares and geopolitical uncertainty add to concerns about near-term growth. Booking Sees Some Moderation in Demand
• Negative Sentiment: Several analysts lowered price targets following the results, including Barclays, which cut its target to $170 while retaining an Overweight rating. The reductions signal more cautious expectations even where ratings remain favorable. Booking Stock Price Target Lowered at Barclays

Booking Price Performance

BKNG stock opened at $168.72 on Friday. The company's 50 day simple moving average is $167.33 and its 200-day simple moving average is $176.33. Booking Holdings Inc. has a 12 month low of $146.28 and a 12 month high of $220.81. The firm has a market capitalization of $125.48 billion, a PE ratio of 16.61, a P/E/G ratio of 1.07 and a beta of 1.17.

Booking (NASDAQ:BKNG - Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The business services provider reported $4.66 EPS for the quarter, topping analysts' consensus estimates of $4.49 by $0.17. The firm had revenue of $9.79 billion during the quarter, compared to analysts' expectations of $9.55 billion. Booking had a negative return on equity of 89.54% and a net margin of 25.52%. The firm's quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $99.50 EPS. As a group, sell-side analysts anticipate that Booking Holdings Inc. will post 10.49 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on BKNG. Piper Sandler restated a "neutral" rating and set a $200.00 price objective (down from $215.00) on shares of Booking in a research report on Wednesday. Oppenheimer reaffirmed an "outperform" rating and issued a $240.00 target price (up from $215.00) on shares of Booking in a report on Wednesday, August 5th. DA Davidson set a $240.00 price target on shares of Booking in a research note on Thursday, August 6th. Cantor Fitzgerald cut their price target on shares of Booking from $170.00 to $150.00 and set a "neutral" rating for the company in a report on Wednesday. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $175.00 price objective on shares of Booking in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $222.35.

Insiders Place Their Bets

In other news, 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 transaction of $79,125.00. Following the completion of the sale, the director owned 16,133 shares in the company, valued at approximately $3,404,063. The trade was a 2.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter J. Millones sold 50,050 shares of the business's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $207.59, for a total transaction of $10,389,879.50. Following the sale, the vice president owned 375,025 shares of the company's stock, valued at approximately $77,851,439.75. This represents a 11.77% decrease in their ownership of the stock. 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. In the last three months, insiders sold 77,425 shares of company stock valued at $16,004,164. 0.17% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding BKNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Booking Holdings Inc. (NASDAQ:BKNG - Free Report).

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.