Dara Khosrowshahi, a director at Expedia (NASDAQ:EXPE) Group, Inc. (NASDAQ:EXPE), recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Khosrowshahi disposed of a total of 10,000 shares on December 2, 2024. The sale comes as Expedia's stock trades near its 52-week high of $190.40, having delivered an impressive 62.2% return over the past six months. InvestingPro data shows the company maintains a GREAT Financial Health Score of 3.1. The transactions, conducted under a pre-arranged trading plan, resulted in proceeds of approximately $1.85 million.
The shares were sold at prices ranging from $183.53 to $186.57 per share. Following these transactions, Khosrowshahi now directly owns 178,505 shares of Expedia Group. Additionally, he holds 21,910 shares indirectly through a children's trust, for which he disclaims beneficial ownership.
These sales were made under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell stocks, helping to avoid concerns about insider trading.
In other recent news, Expedia Group Inc. reported a 3% increase in revenue, reaching $4.1 billion in Q3 2024, along with a 7% rise in gross bookings to $27.5 billion, despite macroeconomic challenges. The company's disciplined cost management resulted in a 3% decrease in overhead expenses and a 6% reduction in cost of sales. Additionally, Expedia's EBITDA rose to $1.25 billion, marking a 3% increase from the previous year, with a margin of 30.8%.
Furthermore, DA Davidson and Mizuho (NYSE:MFG) Securities have adjusted their outlooks on Expedia. DA Davidson raised its price target to $190 from the previous $135, maintaining a Neutral rating on the stock, while Mizuho Securities increased its price target from $135.00 to $165.00, also maintaining a Neutral rating. Both firms' revisions reflect Expedia's recent performance and strategic execution.
In terms of leadership changes, CFO Julie Whalen stepped down, with Ramana Thumu stepping in as Chief Technology Officer. Expedia also raised its full-year guidance, indicating confidence in its strategic execution and ongoing demand. These recent developments highlight Expedia Group's resilience amid macroeconomic turbulence and its focus on operational efficiencies and long-term growth opportunities.
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