Nippon Life Global Investors Americas Inc. raised its stake in The Priceline Group Inc. (NASDAQ:PCLN) by 8.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,170 shares of the business services provider’s stock after buying an additional 310 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in The Priceline Group were worth $7,423,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. BKD Wealth Advisors LLC raised its position in shares of The Priceline Group by 1.3% in the first quarter. BKD Wealth Advisors LLC now owns 151 shares of the business services provider’s stock valued at $269,000 after buying an additional 2 shares during the last quarter. Wrapmanager Inc. raised its position in shares of The Priceline Group by 1.1% in the first quarter. Wrapmanager Inc. now owns 268 shares of the business services provider’s stock valued at $477,000 after buying an additional 3 shares during the last quarter. Puplava Financial Services Inc. raised its stake in The Priceline Group by 2.7% in the first quarter. Puplava Financial Services Inc. now owns 192 shares of the business services provider’s stock worth $342,000 after buying an additional 5 shares in the last quarter. CAPROCK Group Inc. raised its stake in The Priceline Group by 2.5% in the first quarter. CAPROCK Group Inc. now owns 207 shares of the business services provider’s stock worth $368,000 after buying an additional 5 shares in the last quarter. Finally, First Manhattan Co. raised its stake in The Priceline Group by 5.3% in the first quarter. First Manhattan Co. now owns 100 shares of the business services provider’s stock worth $147,000 after buying an additional 5 shares in the last quarter. Institutional investors own 95.20% of the company’s stock.
The Priceline Group Inc. (NASDAQ:PCLN) opened at 1999.22 on Friday. The Priceline Group Inc. has a one year low of $1,305.09 and a one year high of $2,008.65. The firm’s 50-day moving average is $1,887.84 and its 200 day moving average is $1,759.68. The stock has a market cap of $98.25 billion, a P/E ratio of 45.13 and a beta of 1.41.
The Priceline Group (NASDAQ:PCLN) last issued its quarterly earnings results on Tuesday, May 9th. The business services provider reported $9.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $8.83 by $1.05. The Priceline Group had a net margin of 20.12% and a return on equity of 33.94%. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter in the prior year, the company earned $10.54 EPS. The Priceline Group’s quarterly revenue was up 12.6% on a year-over-year basis. On average, analysts anticipate that The Priceline Group Inc. will post $73.93 EPS for the current fiscal year.
A number of analysts have weighed in on the stock. UBS AG restated a “buy” rating and set a $2,100.00 price objective (up from $1,870.00) on shares of The Priceline Group in a research note on Thursday, May 11th. Morgan Stanley raised 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 research note on Tuesday. Credit Suisse Group set a $1,935.00 price objective on shares of The Priceline Group and gave the company a “buy” rating in a research note on Saturday, April 8th. Vetr upgraded shares of The Priceline Group from a “sell” rating to a “hold” rating and set a $1,759.00 price objective for the company in a research note on Monday, April 3rd. Finally, Needham & Company LLC restated a “buy” rating on shares of The Priceline Group in a research note on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. The Priceline Group has an average rating of “Buy” and a consensus price target of $1,944.62.
In other The Priceline Group news, Director Jan L. Docter sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $1,857.67, for a total value of $2,786,505.00. Following the sale, the director now owns 346 shares in the company, valued at approximately $642,753.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Gillian Tans sold 122 shares of the company’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $1,949.47, for a total value of $237,835.34. Following the completion of the sale, the chief executive officer now owns 5,922 shares in the company, valued at approximately $11,544,761.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,744 shares of company stock worth $3,245,648. 0.42% of the stock is owned by corporate insiders.
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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