The Priceline Group Inc. (PCLN) Stake Boosted by DnB Asset Management AS

DnB Asset Management AS boosted its position in The Priceline Group Inc. (NASDAQ:PCLN) by 48.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,089 shares of the business services provider’s stock after buying an additional 7,558 shares during the period. DnB Asset Management AS’s holdings in The Priceline Group were worth $43,188,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake 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 worth $5,704,234,000 after buying an additional 93,992 shares during the period. FMR LLC increased its stake in shares of The Priceline Group by 3.8% in the first quarter. FMR LLC now owns 1,840,149 shares of the business services provider’s stock worth $3,275,411,000 after buying an additional 67,569 shares during the period. Jennison Associates LLC increased its stake in shares of The Priceline Group by 3.0% in the first quarter. Jennison Associates LLC now owns 810,260 shares of the business services provider’s stock worth $1,442,238,000 after buying an additional 23,694 shares during the period. Edgewood Management LLC increased its stake in shares of The Priceline Group by 3.4% in the first quarter. Edgewood Management LLC now owns 568,388 shares of the business services provider’s stock worth $1,011,714,000 after buying an additional 18,746 shares during the period. Finally, Janus Capital Management LLC increased its stake in shares of The Priceline Group by 1.0% in the first quarter. Janus Capital Management LLC now owns 560,060 shares of the business services provider’s stock worth $996,885,000 after buying an additional 5,434 shares during the period. Institutional investors and hedge funds own 95.22% of the company’s stock.

Shares of The Priceline Group Inc. (NASDAQ:PCLN) opened at 1810.00 on Friday. The firm has a market cap of $88.80 billion, a P/E ratio of 38.44 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 $1,946.27 and its 200 day moving average price is $1,818.99.

The Priceline Group (NASDAQ:PCLN) last issued its earnings results on Tuesday, August 8th. The business services provider reported $15.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $14.25 by $0.89. The Priceline Group had a return on equity of 33.10% and a net margin of 20.51%. The firm had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter last year, the business earned $13.93 earnings per share. The company’s revenue was up 18.3% compared to the same quarter last year. On average, equities analysts expect that The Priceline Group Inc. will post $74.77 earnings per share for the current fiscal year.

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PCLN has been the subject of a number of recent research reports. Morgan Stanley lifted their price target on shares of The Priceline Group from $1,950.00 to $2,100.00 and gave the stock an “overweight” rating in a 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 from $2,250.00) on shares of The Priceline Group in a research report on Thursday, August 10th. Vetr raised shares of The Priceline Group from a “hold” rating to a “buy” rating and set a $1,875.00 target price on the stock in a research report on Wednesday, May 17th. Finally, J P Morgan Chase & Co raised their target price on shares of 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 research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $1,924.32.

In other The Priceline Group news, 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 transaction, the director now owns 320 shares in the company, valued at $600,288. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Gillian Tans sold 122 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $1,814.00, for a total value of $221,308.00. Following the transaction, the chief executive officer now owns 6,044 shares in the company, valued at approximately $10,963,816. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,367 shares of company stock worth $8,166,685. Company insiders own 0.42% of the company’s stock.

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.

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

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