MakeMyTrip Limited (NASDAQ:MMYT) Shares Sold by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG cut its holdings in MakeMyTrip Limited (NASDAQ:MMYT) by 43.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,886 shares of the technology company’s stock after selling 6,001 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in MakeMyTrip were worth $733,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Baillie Gifford & Co. raised its position in shares of MakeMyTrip by 85.7% in the 2nd quarter. Baillie Gifford & Co. now owns 4,072,452 shares of the technology company’s stock valued at $342,493,000 after purchasing an additional 1,879,726 shares during the last quarter. William Blair Investment Management LLC increased its stake in MakeMyTrip by 54.5% during the 2nd quarter. William Blair Investment Management LLC now owns 1,099,062 shares of the technology company’s stock valued at $92,431,000 after purchasing an additional 387,695 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of MakeMyTrip by 129.2% in the second quarter. Marshall Wace LLP now owns 956,172 shares of the technology company’s stock worth $80,414,000 after buying an additional 539,067 shares during the last quarter. Sei Investments Co. lifted its stake in shares of MakeMyTrip by 39.7% during the second quarter. Sei Investments Co. now owns 458,962 shares of the technology company’s stock worth $38,599,000 after buying an additional 130,424 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in shares of MakeMyTrip by 143.2% during the first quarter. Janus Henderson Group PLC now owns 458,534 shares of the technology company’s stock valued at $32,574,000 after buying an additional 269,988 shares during the last quarter. Institutional investors and hedge funds own 51.89% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MMYT. Citigroup raised their target price on MakeMyTrip from $93.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. StockNews.com raised MakeMyTrip from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Bank of America increased their price target on shares of MakeMyTrip from $100.00 to $112.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th.

MakeMyTrip Stock Performance

NASDAQ MMYT opened at $102.99 on Wednesday. MakeMyTrip Limited has a fifty-two week low of $36.81 and a fifty-two week high of $110.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.77 and a current ratio of 2.78. The firm has a market capitalization of $11.31 billion, a P/E ratio of 61.67, a PEG ratio of 5.65 and a beta of 1.28. The stock has a 50-day simple moving average of $98.85 and a two-hundred day simple moving average of $86.71.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.23. The company had revenue of $254.52 million during the quarter, compared to the consensus estimate of $231.85 million. MakeMyTrip had a return on equity of 11.04% and a net margin of 26.11%. On average, equities analysts forecast that MakeMyTrip Limited will post 1.27 earnings per share for the current year.

MakeMyTrip Profile

MakeMyTrip Limited, an online travel company, sells travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Colombia, Vietnam, and Indonesia. The company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing.