Booking Holdings Inc. (NASDAQ:BKNG) Shares Sold by ING Groep NV

Key Points

• ING Groep NV reduced its holdings in Booking Holdings Inc. by 50.1% during Q1, selling 6,251 shares and leaving it with a total of 6,215 shares valued at $28.63 million.
• CEO Glenn D. Fogel sold 1,013 shares of Booking stock for approximately $5.77 million, resulting in a 3.66% decrease in his position.
• Equities research analysts have raised their target prices for Booking, with Evercore ISI increasing theirs from $5,500 to $6,250 and a consensus rating of "Moderate Buy" established by various analysts.

ING Groep NV reduced its position in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 50.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,215 shares of the business services provider's stock after selling 6,251 shares during the period. ING Groep NV's holdings in Booking were worth $28,632,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BKNG. GAMMA Investing LLC grew its holdings in Booking by 521,609.7% during the 1st quarter. GAMMA Investing LLC now owns 2,363,345 shares of the business services provider's stock valued at $10,887,718,000 after purchasing an additional 2,362,892 shares during the last quarter. Northern Trust Corp grew its stake in shares of Booking by 18.8% during the fourth quarter. Northern Trust Corp now owns 368,628 shares of the business services provider's stock valued at $1,831,499,000 after buying an additional 58,357 shares during the last quarter. Sanders Capital LLC grew its stake in shares of Booking by 1.4% during the fourth quarter. Sanders Capital LLC now owns 285,064 shares of the business services provider's stock valued at $1,416,318,000 after buying an additional 3,926 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Booking by 1.6% during the 4th quarter. Deutsche Bank AG now owns 278,063 shares of the business services provider's stock worth $1,381,534,000 after acquiring an additional 4,401 shares during the last quarter. Finally, Rothschild & Co Wealth Management UK Ltd lifted its stake in shares of Booking by 0.3% during the 1st quarter. Rothschild & Co Wealth Management UK Ltd now owns 136,309 shares of the business services provider's stock worth $627,963,000 after acquiring an additional 472 shares during the last quarter. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Booking Price Performance

NASDAQ BKNG traded down $33.01 during trading on Friday, hitting $5,399.09. The company's stock had a trading volume of 128,387 shares, compared to its average volume of 252,801. Booking Holdings Inc. has a fifty-two week low of $3,394.85 and a fifty-two week high of $5,839.41. The company has a market cap of $174.98 billion, a PE ratio of 37.55, a P/E/G ratio of 1.60 and a beta of 1.41. The business's 50 day simple moving average is $5,571.61 and its 200-day simple moving average is $5,090.75.

Booking (NASDAQ:BKNG - Get Free Report) last released its earnings results on Tuesday, July 29th. The business services provider reported $55.40 EPS for the quarter, topping analysts' consensus estimates of $50.32 by $5.08. Booking had a net margin of 19.23% and a negative return on equity of 134.19%. The company had revenue of $6.80 billion during the quarter, compared to analysts' expectations of $6.54 billion. During the same period last year, the business earned $41.90 EPS. Booking's revenue for the quarter was up 16.0% on a year-over-year basis. Analysts expect that Booking Holdings Inc. will post 209.92 EPS for the current fiscal year.

Booking Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be paid a $9.60 dividend. The ex-dividend date is Friday, September 5th. This represents a $38.40 dividend on an annualized basis and a yield of 0.7%. Booking's dividend payout ratio (DPR) is 26.71%.

Insider Transactions at Booking

In other Booking news, CEO Glenn D. Fogel sold 1,013 shares of Booking stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $5,695.00, for a total transaction of $5,769,035.00. Following the completion of the sale, the chief executive officer owned 26,633 shares of the company's stock, valued at approximately $151,674,935. The trade was a 3.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 3,039 shares of company stock valued at $16,963,769. Company insiders own 0.16% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on BKNG shares. Bank of America upped their price objective on Booking from $5,820.00 to $5,850.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. raised their price target on shares of Booking from $5,360.00 to $6,000.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Barclays lifted their price objective on shares of Booking from $5,700.00 to $6,000.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. UBS Group raised their target price on shares of Booking from $5,750.00 to $6,300.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $5,750.00 price target (up previously from $5,077.00) on shares of Booking in a report on Wednesday, July 30th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $5,781.04.

Booking Company Profile

Booking Holdings Inc, formerly The Priceline Group Inc, is a provider of travel and restaurant online reservation and related services. The Company, through its online travel companies (OTCs), connects consumers wishing to make travel reservations with providers of travel services across the world. It offers consumers an array of accommodation reservations (including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties) through its Booking.com, priceline.com and agoda.com brands.