Dodge & Cox Sells 41,970 Shares of The Priceline Group Inc. (PCLN)

Dodge & Cox trimmed its stake in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 5.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 776,833 shares of the business services provider’s stock after selling 41,970 shares during the quarter. Dodge & Cox owned 1.58% of The Priceline Group worth $1,453,082,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in The Priceline Group by 2.5% during the second quarter. Vanguard Group Inc. now owns 3,284,464 shares of the business services provider’s stock valued at $6,143,655,000 after purchasing an additional 79,784 shares in the last quarter. FMR LLC boosted its holdings in The Priceline Group by 3.8% during the first quarter. FMR LLC now owns 1,840,149 shares of the business services provider’s stock valued at $3,275,411,000 after purchasing an additional 67,569 shares in the last quarter. Harbour Capital Advisors LLC boosted its holdings in The Priceline Group by 210,283.2% during the second quarter. Harbour Capital Advisors LLC now owns 978,282 shares of the business services provider’s stock valued at $523,000 after purchasing an additional 977,817 shares in the last quarter. Jennison Associates LLC boosted its holdings in The Priceline Group by 6.4% during the second quarter. Jennison Associates LLC now owns 862,773 shares of the business services provider’s stock valued at $1,613,834,000 after purchasing an additional 52,133 shares in the last quarter. Finally, Edgewood Management LLC boosted its holdings in The Priceline Group by 3.4% during the first quarter. Edgewood Management LLC now owns 568,388 shares of the business services provider’s stock valued at $1,011,714,000 after purchasing an additional 18,746 shares in the last quarter. 94.44% of the stock is currently owned by institutional investors.

Several research analysts have recently commented on the company. Credit Suisse Group reissued an “outperform” rating and issued a $2,070.00 target price (down from $2,150.00) on shares of The Priceline Group in a report on Wednesday, August 9th. Needham & Company LLC reissued a “buy” rating on shares of The Priceline Group in a report on Wednesday, June 21st. UBS AG reissued an “overweight” rating on shares of The Priceline Group in a report on Thursday, August 24th. Stifel Nicolaus reissued a “buy” rating and issued a $2,100.00 target price on shares of The Priceline Group in a report on Thursday, August 10th. Finally, Royal Bank Of Canada boosted their target price on The Priceline Group from $2,000.00 to $2,050.00 and gave the stock an “outperform” rating in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $1,924.32.

In related news, Director Jan L. Docter sold 2,500 shares of The Priceline Group stock in a transaction on 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 transaction, the director now owns 320 shares of the company’s stock, valued at $600,288. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gillian Tans sold 122 shares of The Priceline Group stock in a transaction on Friday, September 15th. The stock was sold at an average price of $1,845.97, for a total transaction of $225,208.34. Following the transaction, the chief executive officer now directly owns 5,677 shares of the company’s stock, valued at approximately $10,479,571.69. The disclosure for this sale can be found here. Insiders have sold 2,867 shares of company stock valued at $5,384,080 in the last three months. 0.42% of the stock is owned by insiders.

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The Priceline Group Inc. (NASDAQ:PCLN) traded up 0.09% during mid-day trading on Friday, hitting $1868.10. 61,657 shares of the company were exchanged. The company’s 50-day moving average is $1,873.07 and its 200 day moving average is $1,851.42. The company has a market capitalization of $91.65 billion, a P/E ratio of 39.68 and a beta of 1.47. The Priceline Group Inc. has a 12-month low of $1,422.19 and a 12-month high of $2,067.99.

The Priceline Group (NASDAQ:PCLN) last announced its earnings results on Tuesday, August 8th. The business services provider reported $15.14 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter last year, the firm earned $13.93 earnings per share. The Priceline Group’s quarterly revenue was up 18.3% on a year-over-year basis. Analysts expect that The Priceline Group Inc. will post $74.70 EPS for the current year.

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

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