Riverpark Capital Management LLC raised its position in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 15.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,234 shares of the business services provider’s stock after buying an additional 2,539 shares during the period. The Priceline Group makes up about 4.1% of Riverpark Capital Management LLC’s holdings, making the stock its 4th largest position. Riverpark Capital Management LLC’s holdings in The Priceline Group were worth $35,978,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Harbour Capital Advisors LLC raised its position in shares of The Priceline Group by 210,283.2% in the second quarter. Harbour Capital Advisors LLC now owns 978,282 shares of the business services provider’s stock valued at $523,000 after buying an additional 977,817 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of The Priceline Group during the first quarter valued at about $358,128,000. C WorldWide Group Holding A S purchased a new position in shares of The Priceline Group during the first quarter valued at about $189,324,000. Vanguard Group Inc. raised its position in shares of The Priceline Group by 3.0% in the first quarter. Vanguard Group Inc. now owns 3,204,680 shares of the business services provider’s stock valued at $5,704,234,000 after buying an additional 93,992 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in shares of The Priceline Group by 689.5% in the first quarter. Schroder Investment Management Group now owns 85,556 shares of the business services provider’s stock valued at $153,077,000 after buying an additional 74,719 shares in the last quarter. 95.22% of the stock is owned by institutional investors and hedge funds.
Shares of The Priceline Group Inc. (NASDAQ PCLN) opened at 1793.48 on Friday. The company has a market capitalization of $87.99 billion, a PE ratio of 38.09 and a beta of 1.42. The Priceline Group Inc. has a 12-month low of $1,402.67 and a 12-month high of $2,067.99. The firm’s 50-day moving average price is $1,936.36 and its 200-day moving average price is $1,827.19.
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 analysts’ consensus estimates of $14.25 by $0.89. The firm had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.99 billion. The Priceline Group had a net margin of 20.51% and a return on equity of 33.10%. The firm’s revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $13.93 earnings per share. On average, analysts expect that The Priceline Group Inc. will post $74.77 EPS for the current fiscal year.
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Several research analysts have recently issued reports on PCLN shares. Morgan Stanley increased 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 report on Tuesday, July 18th. Cowen and Company reissued an “outperform” rating and issued a $2,000.00 target price on shares of The Priceline Group in a research report on Tuesday, May 23rd. Jefferies Group LLC reissued a “buy” rating and issued a $2,300.00 target price (up previously from $2,250.00) on shares of The Priceline Group in a research report on Thursday, August 10th. Vetr raised The Priceline Group from a “hold” rating to a “buy” rating and set a $1,875.00 target price for the company in a research report on Wednesday, May 17th. Finally, J P Morgan Chase & Co increased their target price on The Priceline Group from $1,940.00 to $2,125.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $1,924.32.
In other The Priceline Group news, CEO Gillian Tans sold 122 shares of the company’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $1,949.47, for a total value of $237,835.34. Following the sale, the chief executive officer now owns 5,922 shares of the company’s stock, valued at $11,544,761.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jan L. Docter sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were 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 directly owns 320 shares in the company, valued at approximately $600,288. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,367 shares of company stock worth $8,166,685. 0.42% of the stock is owned by insiders.
The Priceline Group Company 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.
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