California State Teachers Retirement System Sells 1,449 Shares of Booking Holdings Inc. (NASDAQ:BKNG)

Posted by on Mar 16th, 2023

California State Teachers Retirement System cut its stake in Booking Holdings Inc. (NASDAQ:BKNG – Get Rating) by 2.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,161 shares of the business services provider’s stock after selling 1,449 shares during the quarter. California State Teachers Retirement System owned 0.18% of Booking worth $112,003,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BKNG. Activest Wealth Management bought a new stake in shares of Booking in the 3rd quarter valued at about $25,000. Chilton Capital Management LLC acquired a new position in shares of Booking in the 2nd quarter valued at approximately $26,000. St. James Investment Advisors LLC grew its position in shares of Booking by 50.0% in the 3rd quarter. St. James Investment Advisors LLC now owns 21 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 7 shares during the period. Hexagon Capital Partners LLC grew its position in shares of Booking by 188.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 26 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 17 shares during the period. Finally, Mach 1 Financial Group LLC acquired a new position in shares of Booking in the 3rd quarter valued at approximately $47,000. 89.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BKNG shares. Morgan Stanley boosted their price objective on Booking from $2,300.00 to $2,500.00 and gave the company an “equal weight” rating in a research report on Monday, February 27th. StockNews.com started coverage on Booking in a research report on Thursday. They set a “buy” rating for the company. Piper Sandler upped their price target on Booking from $2,050.00 to $2,524.00 and gave the stock a “neutral” rating in a research report on Friday, February 24th. The Goldman Sachs Group upped their price target on Booking from $2,250.00 to $2,630.00 and gave the stock a “neutral” rating in a research report on Friday, February 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Booking from $2,370.00 to $2,910.00 and gave the company a “buy” rating in a report on Monday, February 13th. Nine research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,675.16.

Booking Stock Performance

Shares of BKNG stock opened at $2,415.73 on Thursday. The business’s 50-day moving average price is $2,421.15 and its 200-day moving average price is $2,074.22. Booking Holdings Inc. has a 12 month low of $1,616.85 and a 12 month high of $2,630.00. The firm has a market capitalization of $90.95 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 1.18 and a beta of 1.31. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 4.56.

Booking (NASDAQ:BKNG – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The business services provider reported $24.74 EPS for the quarter, beating analysts’ consensus estimates of $20.97 by $3.77. Booking had a return on equity of 107.86% and a net margin of 17.89%. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same period last year, the firm posted $15.83 earnings per share. The business’s revenue for the quarter was up 35.8% on a year-over-year basis. Equities research analysts forecast that Booking Holdings Inc. will post 127.01 EPS for the current year.

Insider Transactions at Booking

In other Booking news, CEO Glenn D. Fogel sold 1,400 shares of Booking stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $2,320.41, for a total value of $3,248,574.00. Following the completion of the sale, the chief executive officer now directly owns 43,804 shares in the company, valued at $101,643,239.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Booking news, CEO Glenn D. Fogel sold 1,400 shares of Booking stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $2,320.41, for a total value of $3,248,574.00. Following the completion of the sale, the chief executive officer now directly owns 43,804 shares in the company, valued at $101,643,239.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Radakovich Lynn Vojvodich sold 35 shares of the business’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $2,297.91, for a total value of $80,426.85. Following the sale, the director now owns 723 shares of the company’s stock, valued at approximately $1,661,388.93. The disclosure for this sale can be found here. Insiders sold 2,085 shares of company stock worth $4,824,315 over the last ninety days. 0.13% of the stock is owned by insiders.

Booking Company Profile

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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.

See Also

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Institutional Ownership by Quarter for Booking (NASDAQ:BKNG)

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