Investors Sell The Priceline Group Inc. (PCLN) on Strength Following Insider Selling

Traders sold shares of The Priceline Group Inc. (NASDAQ:PCLN) on strength during trading on Tuesday after an insider sold shares in the company. $244.59 million flowed into the stock on the tick-up and $278.77 million flowed out of the stock on the tick-down, for a money net flow of $34.18 million out of the stock. Of all equities tracked, The Priceline Group had the 0th highest net out-flow for the day. The Priceline Group traded up $30.78 for the day and closed at $1,976.24Specifically, Director Jan L. Docter sold 1,500 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $1,857.67, for a total transaction of $2,786,505.00. Following the completion of the transaction, the director now directly owns 346 shares in the company, valued at $642,753.82. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Gillian Tans sold 122 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 5,922 shares of the company’s stock, valued at $11,544,761.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,744 shares of company stock valued at $3,245,648. Company insiders own 0.42% of the company’s stock.

Several research analysts have recently commented on the company. UBS AG restated a “buy” rating and set a $2,100.00 price target (up from $1,870.00) on shares of The Priceline Group in a research report on Thursday, May 11th. Royal Bank Of Canada lifted their target price on The Priceline Group from $2,000.00 to $2,050.00 and gave the company an “outperform” rating in a report on Wednesday. Jefferies Group LLC reiterated a “buy” rating and issued a $2,250.00 target price on shares of The Priceline Group in a report on Friday, August 4th. Macquarie lifted their target price on The Priceline Group from $2,000.00 to $2,200.00 and gave the company a “positive” rating in a report on Wednesday. Finally, Barclays PLC reiterated an “overweight” rating on shares of The Priceline Group in a report on Wednesday. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. The Priceline Group has a consensus rating of “Buy” and an average price target of $1,909.30.

The company has a market cap of $90.96 billion, a PE ratio of 39.38 and a beta of 1.42. The stock’s 50-day moving average is $1,950.91 and its 200 day moving average is $1,809.82.

The Priceline Group (NASDAQ:PCLN) last released its quarterly earnings results on Tuesday, August 8th. The business services provider reported $15.14 EPS for the quarter, beating the Zacks’ consensus estimate of $14.25 by $0.89. The firm had revenue of $3.02 billion for the quarter, compared to analyst estimates 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 period in the previous year, the business earned $13.93 earnings per share. On average, equities analysts expect that The Priceline Group Inc. will post $74.80 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in PCLN. Boston Advisors LLC purchased a new position in The Priceline Group during the first quarter worth approximately $35,601,000. Bank of The West increased its position in shares of The Priceline Group by 18.6% in the first quarter. Bank of The West now owns 942 shares of the business services provider’s stock worth $1,677,000 after buying an additional 148 shares in the last quarter. DnB Asset Management AS increased its position in shares of The Priceline Group by 3.3% in the first quarter. DnB Asset Management AS now owns 15,531 shares of the business services provider’s stock worth $27,645,000 after buying an additional 500 shares in the last quarter. Beese Fulmer Investment Management Inc. increased its position in shares of The Priceline Group by 26.0% in the first quarter. Beese Fulmer Investment Management Inc. now owns 1,247 shares of the business services provider’s stock worth $2,220,000 after buying an additional 257 shares in the last quarter. Finally, Carderock Capital Management Inc. increased its position in shares of The Priceline Group by 163.3% in the first quarter. Carderock Capital Management Inc. now owns 1,659 shares of the business services provider’s stock worth $2,952,000 after buying an additional 1,029 shares in the last quarter. Hedge funds and other institutional investors own 95.01% of the company’s stock.

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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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