Foxhaven Asset Management LP Trims Holdings in Booking Holdings Inc. $BKNG

Foxhaven Asset Management LP lowered its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 44.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,860 shares of the business services provider’s stock after selling 12,732 shares during the period. Booking accounts for 2.2% of Foxhaven Asset Management LP’s investment portfolio, making the stock its 16th largest position. Foxhaven Asset Management LP’s holdings in Booking were worth $91,817,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in BKNG. Atwood & Palmer Inc. purchased a new position in shares of Booking during the 2nd quarter worth $29,000. Westside Investment Management Inc. grew its holdings in shares of Booking by 400.0% in the second quarter. Westside Investment Management Inc. now owns 5 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 4 shares during the period. Wealth Preservation Advisors LLC purchased a new stake in shares of Booking in the first quarter valued at about $28,000. O Brien Wealth Partners LLC acquired a new stake in Booking during the second quarter worth about $35,000. Finally, First PREMIER Bank raised its stake in Booking by 100.0% during the second quarter. First PREMIER Bank now owns 6 shares of the business services provider’s stock worth $35,000 after purchasing an additional 3 shares during the period. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BKNG shares. KeyCorp increased their price target on shares of Booking from $6,450.00 to $6,630.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Benchmark increased their price objective on Booking from $6,200.00 to $6,400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft upped their price target on Booking from $6,723.00 to $6,790.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. BNP Paribas set a $6,100.00 price objective on shares of Booking in a report on Monday, November 24th. Finally, Bank of America raised shares of Booking from a “neutral” rating to a “buy” rating and set a $6,000.00 target price on the stock in a research report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $6,149.23.

Insider Buying and Selling at Booking

In other Booking news, CEO Glenn D. Fogel sold 443 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $4,820.35, for a total transaction of $2,135,415.05. Following the sale, the chief executive officer directly owned 22,151 shares in the company, valued at $106,775,572.85. This represents a 1.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paulo Pisano sold 200 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $5,000.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the insider directly owned 1,514 shares of the company’s stock, valued at $7,570,000. This represents a 11.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,388 shares of company stock valued at $17,629,822 in the last 90 days. Corporate insiders own 0.16% of the company’s stock.

Booking Trading Up 0.0%

BKNG stock opened at $5,279.68 on Friday. The business’s fifty day moving average price is $5,063.35 and its 200 day moving average price is $5,379.61. Booking Holdings Inc. has a 12-month low of $4,096.23 and a 12-month high of $5,839.41. The company has a market capitalization of $170.16 billion, a PE ratio of 34.31, a P/E/G ratio of 1.33 and a beta of 1.25.

Booking (NASDAQ:BKNG) last released its earnings results on Tuesday, October 28th. The business services provider reported $99.50 earnings per share for the quarter, beating the consensus estimate of $95.56 by $3.94. The company had revenue of $9.01 billion during the quarter, compared to the consensus estimate of $8.71 billion. Booking had a negative return on equity of 134.86% and a net margin of 19.37%.Booking’s revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company posted $83.39 EPS. Research analysts predict that Booking Holdings Inc. will post 209.92 EPS for the current fiscal year.

Booking Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be issued a $9.60 dividend. The ex-dividend date is Friday, December 5th. This represents a $38.40 dividend on an annualized basis and a dividend yield of 0.7%. Booking’s payout ratio is 24.96%.

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.