Booking Holdings Inc. (NASDAQ:BKNG) CEO and President Glenn D. Fogel has sold a portion of his company stock, according to a recent filing. The transactions, which took place on May 15, 2024, resulted in the sale of shares totaling over $2.8 million.
The sales were conducted at varying prices, with individual shares being sold in a range between $3755.63 and $3792.1. This series of transactions comes as part of a prearranged 10b5-1(c) trading plan, which was adopted on March 10, 2022. Such plans allow company insiders to sell a predetermined number of shares at a predetermined time.
The CEO's sales were spread across multiple transactions, with prices for some specific sales being reported as weighted averages. For instance, a batch of shares was sold at an average price of $3770.095, with a price range of $3770.02 to $3770.17. Another set of shares was sold at an average price of $3779.15, within a range of $3778.98 to $3779.34.
After these transactions, Fogel's remaining ownership in Booking Holdings stands at 26,221 shares. The company has not provided any additional comments on the sales.
Investors often monitor insider transactions as they can provide insights into executives' perspectives on the company's current valuation and future prospects. However, sales under a 10b5-1 plan are typically viewed differently, as they are scheduled in advance and not necessarily indicative of the insider's view on the company's future performance.
Booking Holdings, with its headquarters in Norwalk, Connecticut, operates in the online travel and related services industry, and is known for websites such as Priceline.com, Booking.com, and Kayak.
InvestingPro Insights
In light of the recent insider transactions by Booking Holdings Inc.'s CEO, Glenn D. Fogel, investors might be keen to understand the broader financial context of the company. According to InvestingPro data, Booking Holdings boasts a strong market position with a market capitalization of $127.63 billion. The company's gross profit margin for the last twelve months as of Q1 2024 stands at an impressive 84.65%, reflecting its efficiency in maintaining profitability.
One of the InvestingPro Tips highlights that management has been aggressively buying back shares, which can be a signal of confidence in the company's value and future prospects. Furthermore, analysts have taken a positive stance on the company's profitability, predicting that Booking Holdings will be profitable this year, as well as noting that it has been profitable over the last twelve months.
However, it's worth noting that 18 analysts have revised their earnings downwards for the upcoming period, which may be a point of consideration for investors. On the upside, the company is trading at a low P/E ratio relative to near-term earnings growth, with the current P/E ratio standing at 27.48, and an adjusted P/E ratio of 26.09 for the last twelve months as of Q1 2024.
For those interested in a deeper dive into the financial health and forecasts for Booking Holdings, InvestingPro offers additional insights. There are six more InvestingPro Tips available, which could provide further clarity on the company's financial outlook. To access these tips and more detailed analytics, visit https://www.investing.com/pro/BKNG and remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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