New York State Teachers Retirement System Sells 1,218 Shares of The Priceline Group Inc. (PCLN)

New York State Teachers Retirement System reduced its holdings in The Priceline Group Inc. (NASDAQ:PCLN) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 83,324 shares of the business services provider’s stock after selling 1,218 shares during the period. New York State Teachers Retirement System owned about 0.17% of The Priceline Group worth $152,551,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Well Done LLC boosted its holdings in shares of The Priceline Group by 1.2% in the 2nd quarter. Well Done LLC now owns 175 shares of the business services provider’s stock valued at $327,000 after acquiring an additional 2 shares during the last quarter. Pinnacle Associates Ltd. boosted its holdings in shares of The Priceline Group by 0.5% in the 2nd quarter. Pinnacle Associates Ltd. now owns 617 shares of the business services provider’s stock valued at $1,154,000 after acquiring an additional 3 shares during the last quarter. LS Investment Advisors LLC boosted its holdings in shares of The Priceline Group by 0.4% in the 2nd quarter. LS Investment Advisors LLC now owns 906 shares of the business services provider’s stock valued at $1,695,000 after acquiring an additional 4 shares during the last quarter. First National Bank of Hutchinson boosted its holdings in shares of The Priceline Group by 1.0% in the 2nd quarter. First National Bank of Hutchinson now owns 425 shares of the business services provider’s stock valued at $857,000 after acquiring an additional 4 shares during the last quarter. Finally, Hedeker Wealth LLC boosted its holdings in shares of The Priceline Group by 1.0% in the 1st quarter. Hedeker Wealth LLC now owns 511 shares of the business services provider’s stock valued at $909,000 after acquiring an additional 5 shares during the last quarter. 94.38% of the stock is currently owned by institutional investors and hedge funds.

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In related news, CEO Gillian Tans sold 123 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $1,880.38, for a total value of $231,286.74. Following the sale, the chief executive officer now directly owns 5,799 shares in the company, valued at approximately $10,904,323.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jan L. Docter sold 2,500 shares of the business’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 completion of the sale, the director now owns 320 shares in the company, valued at $600,288. The disclosure for this sale can be found here. Insiders sold a total of 2,867 shares of company stock worth $5,382,925 over the last quarter. Insiders own 0.24% of the company’s stock.

Shares of The Priceline Group Inc. (NASDAQ:PCLN) traded up 0.15% during midday trading on Wednesday, hitting $1914.75. 191,881 shares of the stock were exchanged. The Priceline Group Inc. has a 12-month low of $1,422.19 and a 12-month high of $2,067.99. The firm has a market cap of $93.94 billion, a PE ratio of 40.67 and a beta of 1.47. The firm has a 50-day moving average price of $1,889.07 and a 200 day moving average price of $1,879.39.

The Priceline Group (NASDAQ:PCLN) last released its quarterly earnings data on Tuesday, August 8th. The business services provider reported $15.14 EPS for the quarter, topping the consensus estimate of $14.25 by $0.89. The Priceline Group had a net margin of 20.51% and a return on equity of 33.10%. The business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period in the previous year, the firm earned $13.93 EPS. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. Analysts predict that The Priceline Group Inc. will post $74.99 earnings per share for the current fiscal year.

PCLN has been the topic of several recent research reports. Zacks Investment Research downgraded shares of The Priceline Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Morgan Stanley upped their price objective on shares of The Priceline Group from $1,950.00 to $2,100.00 and gave the company an “overweight” rating in a report on Tuesday, July 18th. Piper Jaffray Companies reissued an “overweight” rating and set a $110.00 price target (down from $2,150.00) on shares of The Priceline Group in a report on Friday, July 28th. Credit Suisse Group set a $2,150.00 price target on shares of The Priceline Group and gave the stock a “buy” rating in a report on Tuesday, August 1st. Finally, Jefferies Group LLC reissued a “buy” rating and set a $2,250.00 price target on shares of The Priceline Group in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $1,960.17.

The Priceline Group Profile

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.

Institutional Ownership by Quarter for The Priceline Group (NASDAQ:PCLN)

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