Booking Holdings Inc. $BKNG Stock Sold by Candriam S.C.A.

Key Points

• Candriam S.C.A. cut its Booking Holdings stake by 39.6% in the third quarter, selling 121,154 shares and retaining 185,145 shares valued at about $30.3 million.
• Booking beat quarterly earnings and revenue estimates, reporting EPS of $4.66 and revenue of $9.79 billion; however, revenue declined 1.2% year over year.
• Company insiders sold 77,425 shares worth about $16 million in the last quarter, while institutional investors and hedge funds collectively own 92.42% of the stock.

Candriam S.C.A. cut its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 39.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 185,145 shares of the business services provider's stock after selling 121,154 shares during the period. Candriam S.C.A.'s holdings in Booking were worth $30,272,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Allworth Financial LP lifted its stake in Booking by 1,615.6% in the second quarter. Allworth Financial LP now owns 13,931 shares of the business services provider's stock valued at $2,483,000 after buying an additional 13,119 shares during the period. B. Metzler seel. Sohn & Co. AG bought a new position in Booking during the second quarter worth about $11,687,000. MBM Wealth Consultants LLC boosted its holdings in Booking by 2,860.8% during the second quarter. MBM Wealth Consultants LLC now owns 12,554 shares of the business services provider's stock worth $2,238,000 after buying an additional 12,130 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of Booking by 2,549.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 88,949 shares of the business services provider's stock worth $16,077,000 after buying an additional 85,592 shares during the period. Finally, Venture Visionary Partners LLC grew its position in shares of Booking by 53.3% during the 3rd quarter. Venture Visionary Partners LLC now owns 61,803 shares of the business services provider's stock worth $10,068,000 after buying an additional 21,496 shares during the period. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Booking

In other Booking news, Director Vanessa Wittman sold 375 shares of Booking stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $211.00, for a total value of $79,125.00. Following the transaction, the director owned 16,133 shares of the company's stock, valued at approximately $3,404,063. The trade was a 2.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ewout L. Steenbergen sold 20,000 shares of Booking stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $211.03, for a total transaction of $4,220,600.00. Following the completion of the transaction, the chief financial officer directly owned 59,794 shares in the company, valued at approximately $12,618,327.82. The trade was a 25.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 77,425 shares of company stock worth $16,004,164 in the last quarter. Company insiders own 0.17% of the company's stock.

Booking Price Performance

Shares of Booking stock opened at $160.66 on Monday. Booking Holdings Inc. has a 1 year low of $146.28 and a 1 year high of $220.81. The business has a 50-day moving average of $166.49 and a two-hundred day moving average of $176.13. The company has a market capitalization of $119.48 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17.

Booking (NASDAQ:BKNG - Get Free Report) last released its quarterly earnings data 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 business had revenue of $9.79 billion for the quarter, compared to analysts' expectations of $9.55 billion. During the same quarter in the previous year, the business posted $99.50 EPS. Booking's revenue for the quarter was down 1.2% on a year-over-year basis. On average, equities analysts anticipate that Booking Holdings Inc. will post 10.24 EPS for the current fiscal year.

Trending Headlines about 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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BKNG shares. Jefferies Financial Group upped their price target on Booking from $180.00 to $190.00 and gave the company a "hold" rating in a research note on Tuesday, July 14th. Citizens Jmp started coverage on shares of Booking in a research note on Wednesday, November 4th. They set a "hold" rating on the stock. BTIG Research reissued a "buy" rating and set a $250.00 price objective on shares of Booking in a research note on Wednesday, November 4th. The Goldman Sachs Group restated a "neutral" rating and set a $175.00 price objective on shares of Booking in a report on Wednesday. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $240.00 target price (up from $215.00) on shares of Booking in a research note on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, Booking currently has a consensus rating of "Moderate Buy" and a consensus price target of $222.35.

Booking Profile

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.

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