TRIP
LONGINSIDER SELL13D FILEDTRIPADVISOR INC
Research: Finviz ↗·Perplexity ↗
🗄 Viewing archived Q1 2026 data — frozen, no longer refreshed.
News Summary
NegativeTripAdvisor faces significant near-term headwinds with Q2 earnings missing consensus by ~$72M in revenue and Q2-Q3 guidance pointing to continued 7-10% revenue declines, driven by a 21% Hotels segment collapse and AI/SEO pressures eroding organic traffic. However, the $700M TheFork sale to American Express provides substantial capital flexibility and validates the Experiences pivot, while board refreshment under Starboard signals potential operational improvements ahead.
Red flags
- •Q2 revenue missed consensus by ~$72M (~14% shortfall); EPS missed by $0.02
- •Revenue declined 7% YoY in Q2; Hotels segment revenue fell 21% YoY
- •Q3 guidance projects consolidated revenue decline of 7-10% YoY
- •GAAP net income from continuing operations fell 38% YoY
- •Operating cash flow declined 31% YoY; free cash flow declined 29% YoY
- •AI Overviews now appear on 48% of search queries (vs. 31% a year prior), reducing click-through rates by 30-50%; management projects <10% of Experiences gross bookings from organic search by end-2026
- •SEO headwinds estimated at ~5 percentage points of Experiences growth drag
- •Hotels and Other segment expected to decline 20-23% in Q3
Funds Buying (3)
| Fund | Manager | Shares Held | ∆ Shares | Position Value | % of Fund | QoQ | Status |
|---|---|---|---|---|---|---|---|
| Starboard Value | Jeff Smith | 10.8M | +1.1M | $115M | 2.5% | +12% | Existing |
| Greenlight Capital | David Einhorn | 1.6M | +1.6M | $17M | 0.5% | — | NEW |
| Maverick Capital | Lee Ainslie | 68K | +68K | $1M | <0.1% | — | NEW |
Shares Held and Position Value reflect total quarter-end holdings. ∆ Shares is the change from the prior quarter. % of Fund is the position's share of the fund's reported equity portfolio — it drives the size weighting in the conviction score.
Portfolio Context
Where TRIP ranks in each buying fund's book, and the positions immediately around it. What a holding sits next to often says more about the thesis than the position size does.
position #16 of this fund's book
- 13FLUOR CORP$135M
- 14CLEARWATER ANALYTICS HLDGS I$129M
- 15HEALTHCARE RLTY TR$116M
- 16TRIPADVISOR INC$115M
- 17BECTON DICKINSON & CO$100M
- 18GPGI INC$86M
- 19NEWS CORP NEW$74M
position #36 of this fund's book
- 33STUBHUB HLDGS INC$26M
- 34VIATRIS INC$25M
- 35THE CIGNA GROUP$24M
- 36TRIPADVISOR INC$17M
- 37GALAPAGOS NV$14M
- 38WEATHERFORD INTL PLC$14M
- 39ZIM INTEGRATED SHIPPING SERV$9M
Values are quarter-end position sizes. Shown only for funds where TRIP ranks inside their 40 largest equity positions — below that, neighbouring names carry no signal. Adjacency is an inference about a fund's reasoning, not a disclosure of it.
Insider Activity
Fund 13D/13G Filings (4)
Tracked funds' beneficial-ownership filings on this stock — disclosed within days of a position change, fresher than the quarterly 13F. Since Filing compares the stock to SPY from the filing date (shown for filings within the last 90 days).
| Fund | Form | ∆ Shares | % of Class | Since Filing | Filed | Src |
|---|---|---|---|---|---|---|
| Starboard Value | SC 13D/A | −5.7M | 4.4% | — | 2026-04-03 | ↗ |
| Starboard Value | SC 13D/A | — | 9.4% | — | 2026-03-23 | ↗ |
| Starboard Value | SC 13D/A | +0 | 9.4% | — | 2026-03-06 | ↗ |
| Starboard Value | SC 13D/A | — | 9.4% | — | 2026-02-17 | ↗ |
Beneficial Ownership (13D/13G)
| Filer | Form | Shares | % of Class | Filed | Src |
|---|---|---|---|---|---|
| Starboard Value LP | SC 13D/A | 10.8M | 9.4% | 2026-03-06 | ↗ |
| Starboard Value LP | SC 13D/A | 10.8M | 9.4% | 2026-02-17 | ↗ |
SC 13D = active intent to influence control (10-day filing deadline after crossing 5%). SC 13G = passive accumulation, no intent to influence control.