Redmond Asset Management LLC Reduces Stakes in Booking Holdings Inc.

Redmond Asset Management LLC recently announced a reduction in its investment in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 7.8% during the fourth quarter, as revealed in their most recent filing with the SEC. After selling 52 shares in this period, the firm now holds a total of 617 shares of Booking. The value of these holdings is approximately $3,066,000, according to the latest SEC documentation.

Institutional Investors Adjust Holdings

In addition to Redmond Asset Management, several other institutional investors have made changes to their positions in Booking Holdings. For instance, AEGON ASSET MANAGEMENT UK Plc purchased a new stake in the company during the fourth quarter, valued at $25,000. Similarly, New Wave Wealth Advisors LLC also acquired a new stake in Booking, also worth $25,000.

Valley National Advisers Inc. significantly increased its holdings by 600.0% in the fourth quarter, resulting in them owning 7 shares valued at $36,000 after acquiring an additional 6 shares. Addison Advisors LLC boosted its stake by 80.0% in the third quarter, bringing its total to 9 shares valued at $38,000 after adding 4 shares. Additionally, Carmichael Hill & Associates Inc. raised its holdings in Booking by 66.7% during the same quarter, now owning 10 shares worth $42,000 following an acquisition of 4 shares. Overall, about 92.42% of Booking's stock is held by institutional investors.

Analysts’ Perspectives on Booking

Booking Holdings Inc. has recently attracted attention from various analysts. Robert W. Baird initiated coverage on Booking, assigning an “outperform” rating with a target price of $5,850.00. Piper Sandler affirmed a “neutral” rating, updating its price target to $5,120.00 from a previous target of $4,900.00. Citigroup increased its price target from $5,500.00 to $5,800.00 and also issued a “buy” rating. Truist Financial raised their target from $4,100.00 to $4,700.00, maintaining a “hold” rating.

The Royal Bank of Canada also raised their price objective from $5,250.00 to $5,900.00, labeling it as an “outperform” stock. In total, nine analysts have rated Booking with a hold rating, while twenty-one have given a buy rating and two have suggested a strong buy. According to MarketBeat.com data, the stock enjoys an average rating of "Moderate Buy" with a consensus target price of $5,370.43.

Current Status of Booking Stock

As for the financial performance of Booking, as of Friday, January 12, the stock opened at $4,989.22. The 52-week range for Booking Holdings is between a low of $3,180.00 and a high of $5,337.24. The market capitalization of the company stands at $165.14 billion, with a P/E ratio of 28.83 and a price-to-earnings-growth ratio of 1.74. Recent stock trends show a 50-day simple moving average of $4,903.34 and a 200-day simple moving average of $4,551.96.

About Booking Holdings

Booking Holdings Inc. operates as a leading provider of online reservation and related services in the travel and restaurant sector. Through its various online platforms, including Booking.com, priceline.com, and agoda.com, the company connects consumers with a plethora of travel services globally. It offers travelers various accommodation options, spanning hotels, bed and breakfasts, hostels, apartments, vacation rentals, and more.

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