Handelsbanken Fonder AB boosted its stake in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 16.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,760 shares of the business services provider’s stock after buying an additional 3,200 shares during the period. Handelsbanken Fonder AB’s holdings in The Priceline Group were worth $42,573,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Hartford Financial Management Inc. bought a new position in shares of The Priceline Group during the first quarter worth approximately $106,000. Webster Bank N. A. increased its position in shares of The Priceline Group by 24.0% in the first quarter. Webster Bank N. A. now owns 62 shares of the business services provider’s stock worth $110,000 after buying an additional 12 shares during the last quarter. Assetmark Inc. increased its position in shares of The Priceline Group by 12.5% in the first quarter. Assetmark Inc. now owns 63 shares of the business services provider’s stock worth $112,000 after buying an additional 7 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new position in shares of The Priceline Group during the first quarter worth approximately $123,000. Finally, Proficio Capital Partners LLC boosted its stake in The Priceline Group by 29.6% in the first quarter. Proficio Capital Partners LLC now owns 70 shares of the business services provider’s stock valued at $129,000 after buying an additional 16 shares during the period. Institutional investors and hedge funds own 95.22% of the company’s stock.
Shares of The Priceline Group Inc. (PCLN) traded down 0.16% during trading on Friday, reaching $1810.00. 486,075 shares of the company’s stock were exchanged. The company has a market capitalization of $88.80 billion, a PE ratio of 38.44 and a beta of 1.42. The company has a 50 day moving average price of $1,946.27 and a 200-day moving average price of $1,818.99. The Priceline Group Inc. has a 52-week low of $1,402.67 and a 52-week high of $2,067.99.
The Priceline Group (NASDAQ:PCLN) last announced its quarterly earnings results on Tuesday, August 8th. The business services provider reported $15.14 EPS for the quarter, beating analysts’ consensus estimates of $14.25 by $0.89. The firm had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $2.99 billion. The Priceline Group had a net margin of 20.51% and a return on equity of 33.10%. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter last year, the company posted $13.93 earnings per share. On average, equities analysts forecast that The Priceline Group Inc. will post $74.77 earnings per share for the current year.
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Several equities research analysts have issued reports on PCLN shares. BidaskClub raised The Priceline Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Goldman Sachs Group, Inc. (The) lifted their price objective on The Priceline Group from $1,750.00 to $1,850.00 and gave the company a “neutral” rating in a research note on Wednesday, May 10th. J P Morgan Chase & Co lifted their price objective on The Priceline Group from $1,940.00 to $2,125.00 and gave the company an “overweight” rating in a research note on Wednesday, May 10th. Morgan Stanley boosted their target price on The Priceline Group from $1,950.00 to $2,100.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 18th. Finally, Deutsche Bank AG boosted their target price on The Priceline Group from $1,725.00 to $2,000.00 and gave the stock a “hold” rating in a research note on Monday, May 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The Priceline Group has a consensus rating of “Buy” and a consensus target price of $1,924.32.
In other news, CEO Gillian Tans sold 122 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $1,814.00, for a total transaction of $221,308.00. Following the completion of the sale, the chief executive officer now owns 6,044 shares in the company, valued at approximately $10,963,816. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jan L. Docter sold 2,500 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $1,875.90, for a total transaction of $4,689,750.00. Following the sale, the director now owns 320 shares of the company’s stock, valued at approximately $600,288. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,367 shares of company stock valued at $8,166,685. Corporate insiders own 0.42% of the company’s stock.
About The Priceline Group
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.
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