Pictet Asset Management Holding SA Has $21.83 Million Position in MakeMyTrip Limited $MMYT

Pictet Asset Management Holding SA lessened its holdings in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 16.9% during the first quarter, Holdings Channel.com reports. The firm owned 585,369 shares of the technology company’s stock after selling 119,084 shares during the quarter. Pictet Asset Management Holding SA’s holdings in MakeMyTrip were worth $21,828,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MMYT. Leonteq Securities AG acquired a new stake in shares of MakeMyTrip in the fourth quarter valued at about $29,000. Parallel Advisors LLC boosted its holdings in MakeMyTrip by 244.8% in the third quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock valued at $37,000 after acquiring an additional 284 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in MakeMyTrip in the fourth quarter valued at approximately $46,000. Stone House Investment Management LLC increased its position in MakeMyTrip by 50.0% during the 4th quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock valued at $49,000 after purchasing an additional 200 shares during the period. Finally, Rakuten Securities Inc. increased its position in MakeMyTrip by 893.9% during the 4th quarter. Rakuten Securities Inc. now owns 656 shares of the technology company’s stock valued at $54,000 after purchasing an additional 590 shares during the period. Institutional investors own 51.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MMYT shares. The Goldman Sachs Group set a $84.00 price target on shares of MakeMyTrip in a research report on Saturday. Citigroup reissued a “buy” rating on shares of MakeMyTrip in a research note on Tuesday, May 19th. Wall Street Zen upgraded shares of MakeMyTrip from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Finally, Zacks Research cut shares of MakeMyTrip from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.33.

MakeMyTrip Stock Performance

Shares of MMYT stock opened at $58.19 on Thursday. MakeMyTrip Limited has a fifty-two week low of $32.67 and a fifty-two week high of $104.99. The stock has a 50 day simple moving average of $46.18 and a two-hundred day simple moving average of $55.20. The company has a market cap of $6.47 billion, a P/E ratio of 232.76 and a beta of 0.98.

MakeMyTrip Profile

MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company’s offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.

Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India’s leading travel technology firms.