Tripadvisor, Inc. (NASDAQ:TRIP) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its holdings in Tripadvisor, Inc. (NASDAQ:TRIP) by 4.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 535,008 shares of the travel company’s stock after selling 22,918 shares during the quarter. Principal Financial Group Inc.’s holdings in Tripadvisor were worth $9,528,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Tripadvisor by 28.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,487 shares of the travel company’s stock valued at $472,000 after buying an additional 5,802 shares during the period. Van Lanschot Kempen Investment Management N.V. grew its position in Tripadvisor by 4.9% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 2,292,087 shares of the travel company’s stock valued at $40,822,000 after buying an additional 107,154 shares during the period. Louisiana State Employees Retirement System grew its position in Tripadvisor by 2.2% during the second quarter. Louisiana State Employees Retirement System now owns 54,700 shares of the travel company’s stock valued at $974,000 after buying an additional 1,200 shares during the period. Fifth Third Bancorp grew its position in Tripadvisor by 104.1% during the second quarter. Fifth Third Bancorp now owns 1,659 shares of the travel company’s stock valued at $30,000 after buying an additional 846 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in Tripadvisor during the second quarter valued at $2,669,000. Institutional investors and hedge funds own 98.99% of the company’s stock.

Tripadvisor Stock Performance

NASDAQ:TRIP opened at $13.77 on Friday. The company’s 50-day moving average price is $15.97 and its 200-day moving average price is $20.73. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 1.04. The company has a market cap of $1.92 billion, a P/E ratio of 91.80, a P/E/G ratio of 1.81 and a beta of 1.39. Tripadvisor, Inc. has a twelve month low of $13.30 and a twelve month high of $28.76.

Tripadvisor (NASDAQ:TRIP) last posted its quarterly earnings results on Tuesday, August 6th. The travel company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.02. The firm had revenue of $497.00 million for the quarter, compared to the consensus estimate of $504.76 million. Tripadvisor had a net margin of 1.32% and a return on equity of 11.81%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the firm posted $0.21 earnings per share. On average, sell-side analysts forecast that Tripadvisor, Inc. will post 0.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TRIP. JPMorgan Chase & Co. dropped their price target on shares of Tripadvisor from $17.00 to $14.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th. TD Cowen dropped their price target on shares of Tripadvisor from $25.00 to $15.00 and set a “hold” rating on the stock in a research report on Thursday, August 22nd. Truist Financial dropped their price target on shares of Tripadvisor from $21.00 to $17.00 and set a “hold” rating on the stock in a research report on Wednesday. Wedbush reaffirmed a “neutral” rating and set a $21.00 price objective on shares of Tripadvisor in a report on Wednesday, August 7th. Finally, B. Riley downgraded shares of Tripadvisor from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $26.00 to $19.00 in a report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Tripadvisor presently has an average rating of “Hold” and a consensus price target of $19.13.

Tripadvisor Company Profile

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: Brand Tripadvisor, Viator, and TheFork. The Brand Tripadvisor 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.