SEATTLE—Lance A. Soliday, Senior Vice President and Chief Accounting Officer at Expedia (NASDAQ:EXPE) Group, Inc. (NASDAQ:EXPE), recently sold a portion of his company shares. According to a recent SEC filing, Soliday sold 727 shares of Expedia common stock on November 22, 2024. The shares were sold at an average price of $185.955 each, totaling approximately $135,189.
Following this transaction, Soliday retains ownership of 11,187 shares of Expedia stock. The sale was conducted as a direct ownership transaction, according to the filing.
In other recent news, Expedia Group Inc. posted a 3% increase in revenue to $4.1 billion and a 7% rise in gross bookings to $27.5 billion in Q3 2024, despite facing macroeconomic challenges. The company's adjusted EBITDA for the quarter was $1.25 billion, a 2.8% increase from the previous year, attributed to effective cost management. Expedia has provided an optimistic Q4 outlook, expecting GB growth of 6-8% year-over-year and has revised its 2024 guidance, now expecting GBs to rise by 5% year-over-year.
Analyst firm DA Davidson adjusted its outlook on Expedia, raising the price target to $190 from the previous $135 while maintaining a Neutral rating. Mizuho (NYSE:MFG) Securities also adjusted its outlook, increasing the price target from $135.00 to $165.00, maintaining a Neutral rating.
In terms of management, CFO Julie Whalen stepped down, with Ramana Thumu stepping in as Chief Technology Officer. These are recent developments indicating Expedia Group's resilience amid macroeconomic turbulence and confidence in its strategic execution and ongoing demand.
InvestingPro Insights
As Lance A. Soliday reduces his stake in Expedia Group, Inc. (NASDAQ:EXPE), investors may find additional context in recent financial metrics and expert insights. According to InvestingPro data, Expedia's market capitalization stands at $23.89 billion, reflecting its significant presence in the online travel industry.
The company's stock has shown impressive momentum, with InvestingPro reporting a 66.88% price return over the past six months. This strong performance aligns with an InvestingPro Tip noting that the stock is trading near its 52-week high, currently at 97.84% of that peak.
Despite the recent insider sale, Expedia's financial health appears robust. The company boasts a gross profit margin of 89.19% for the last twelve months as of Q3 2023, which an InvestingPro Tip describes as "impressive." This high margin suggests Expedia maintains strong pricing power in its market segment.
For investors considering Expedia's valuation, the company's P/E ratio stands at 23.18, with an adjusted P/E of 20.89 for the last twelve months. An InvestingPro Tip indicates that Expedia is "trading at a low P/E ratio relative to near-term earnings growth," potentially signaling an attractive entry point for value-oriented investors.
These insights are just a sample of the 16 additional tips available on InvestingPro, offering a more comprehensive analysis of Expedia's financial position and market outlook.
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