Allspring Global Investments Holdings LLC trimmed its holdings in Tripadvisor, Inc. (NASDAQ:TRIP – Free Report) by 42.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,136 shares of the travel company’s stock after selling 50,385 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Tripadvisor were worth $1,124,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dark Forest Capital Management LP boosted its holdings in shares of Tripadvisor by 1,227.3% in the first quarter. Dark Forest Capital Management LP now owns 1,699 shares of the travel company’s stock valued at $34,000 after acquiring an additional 1,571 shares during the period. Harvest Fund Management Co. Ltd lifted its holdings in Tripadvisor by 1,581.0% in the first quarter. Harvest Fund Management Co. Ltd now owns 4,068 shares of the travel company’s stock valued at $81,000 after acquiring an additional 3,826 shares during the period. Quintet Private Bank Europe S.A. acquired a new stake in Tripadvisor in the first quarter valued at $99,000. Quent Capital LLC raised its stake in shares of Tripadvisor by 15,625.0% during the 2nd quarter. Quent Capital LLC now owns 5,032 shares of the travel company’s stock worth $83,000 after buying an additional 5,000 shares during the last quarter. Finally, Advisory Services Network LLC raised its stake in shares of Tripadvisor by 665.7% during the 1st quarter. Advisory Services Network LLC now owns 7,833 shares of the travel company’s stock worth $156,000 after buying an additional 6,810 shares during the last quarter. 74.17% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms recently commented on TRIP. Truist Financial dropped their price objective on Tripadvisor from $18.00 to $17.00 and set a “hold” rating for the company in a research report on Friday, September 15th. Wells Fargo & Company upped their target price on Tripadvisor from $17.00 to $20.00 and gave the company an “equal weight” rating in a research report on Friday, August 4th. Barclays dropped their price target on Tripadvisor from $15.00 to $14.00 and set an “underweight” rating on the stock in a research report on Friday, August 4th. Wedbush restated a “neutral” rating and set a $20.00 price objective (up from $17.00) on shares of Tripadvisor in a research note on Tuesday. Finally, StockNews.com downgraded Tripadvisor from a “buy” rating to a “hold” rating in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tripadvisor currently has a consensus rating of “Hold” and an average price target of $20.94.
Tripadvisor Stock Performance
NASDAQ TRIP opened at $17.88 on Wednesday. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of -89.40 and a beta of 1.43. Tripadvisor, Inc. has a twelve month low of $14.15 and a twelve month high of $27.30. The stock has a fifty day simple moving average of $15.67 and a 200 day simple moving average of $16.19. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 1.14.
TripAdvisor, Inc operates as an online travel company, primarily engages in the provision of travel guidance products and services worldwide. The company operates in three segments: Tripadvisor Core, Viator, and TheFork. The Tripadvisor Core segment offers travel guidance platforms for travelers to discover, generate, and share authentic user-generated content in the form of ratings and reviews for destinations, points-of-interest, experiences, accommodations, restaurants, and cruises.
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