Allspring Global Investments Holdings LLC Reduces Stock Position in Tripadvisor, Inc. (NASDAQ:TRIP)

Allspring Global Investments Holdings LLC cut its holdings in shares of Tripadvisor, Inc. (NASDAQ:TRIP) by 6.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,585 shares of the travel company’s stock after selling 2,371 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Tripadvisor were worth $487,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Acadian Asset Management LLC grew its stake in shares of Tripadvisor by 589.5% in the first quarter. Acadian Asset Management LLC now owns 34,946 shares of the travel company’s stock worth $970,000 after purchasing an additional 29,878 shares in the last quarter. Tidal Investments LLC bought a new position in shares of Tripadvisor in the first quarter worth $4,638,000. Boston Partners bought a new position in shares of Tripadvisor in the first quarter worth $131,887,000. DekaBank Deutsche Girozentrale grew its stake in shares of Tripadvisor by 9,356.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 195,467 shares of the travel company’s stock worth $5,477,000 after purchasing an additional 193,400 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Tripadvisor by 406.7% in the second quarter. Assenagon Asset Management S.A. now owns 736,625 shares of the travel company’s stock worth $13,119,000 after purchasing an additional 591,251 shares in the last quarter. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

Tripadvisor Trading Up 0.6 %

Shares of NASDAQ TRIP opened at $16.13 on Friday. Tripadvisor, Inc. has a 1 year low of $12.93 and a 1 year high of $28.76. The stock has a market cap of $2.24 billion, a P/E ratio of 107.53, a price-to-earnings-growth ratio of 10.62 and a beta of 1.39. The firm has a 50-day moving average of $14.60 and a 200 day moving average of $17.30. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.68 and a quick ratio of 1.68.

Tripadvisor (NASDAQ:TRIP) last announced its quarterly earnings results on Tuesday, August 6th. The travel company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Tripadvisor had a net margin of 1.32% and a return on equity of 11.81%. The firm had revenue of $497.00 million during the quarter, compared to analyst estimates of $504.76 million. During the same period in the previous year, the business posted $0.21 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. As a group, sell-side analysts expect that Tripadvisor, Inc. will post 0.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TRIP. Citigroup decreased their price target on Tripadvisor from $20.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. B. Riley lowered Tripadvisor from a “buy” rating to a “neutral” rating and decreased their price target for the company from $26.00 to $19.00 in a research report on Wednesday, August 7th. UBS Group decreased their price target on Tripadvisor from $20.00 to $18.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. BTIG Research decreased their price target on Tripadvisor from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, TD Cowen decreased their price target on Tripadvisor from $25.00 to $15.00 and set a “hold” rating for the company in a research report on Thursday, August 22nd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $18.33.

Tripadvisor 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.