Nuveen Asset Management LLC Boosts Stock Position in Yelp Inc. (NYSE:YELP)

Posted by Defense World Staff on Mar 2nd, 2023

Nuveen Asset Management LLC lifted its position in Yelp Inc. (NYSE:YELP – Get Rating) by 35.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 739,992 shares of the local business review company’s stock after purchasing an additional 193,702 shares during the quarter. Nuveen Asset Management LLC owned 1.04% of Yelp worth $25,093,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its holdings in Yelp by 33.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,944 shares of the local business review company’s stock valued at $169,000 after acquiring an additional 1,241 shares during the period. MetLife Investment Management LLC boosted its holdings in Yelp by 41.2% during the 1st quarter. MetLife Investment Management LLC now owns 81,542 shares of the local business review company’s stock valued at $2,781,000 after acquiring an additional 23,806 shares during the period. Rhumbline Advisers boosted its holdings in Yelp by 4.2% during the 1st quarter. Rhumbline Advisers now owns 196,631 shares of the local business review company’s stock valued at $6,707,000 after acquiring an additional 8,007 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Yelp by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,154 shares of the local business review company’s stock valued at $858,000 after acquiring an additional 2,398 shares during the period. Finally, Great West Life Assurance Co. Can boosted its holdings in Yelp by 9.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 39,573 shares of the local business review company’s stock valued at $1,389,000 after acquiring an additional 3,344 shares during the period. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Yelp

In other news, CTO Sam Eaton sold 12,153 shares of the firm’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $30.24, for a total value of $367,506.72. Following the transaction, the chief technology officer now directly owns 226,647 shares in the company, valued at approximately $6,853,805.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, COO Joseph R. Nachman sold 6,000 shares of the firm’s stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $25.77, for a total value of $154,620.00. Following the transaction, the chief operating officer now directly owns 265,053 shares of the company’s stock, valued at approximately $6,830,415.81. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Sam Eaton sold 12,153 shares of the firm’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $30.24, for a total value of $367,506.72. Following the completion of the transaction, the chief technology officer now directly owns 226,647 shares in the company, valued at $6,853,805.28. The disclosure for this sale can be found here. Insiders have sold a total of 390,605 shares of company stock worth $11,371,956 in the last ninety days. Insiders own 7.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on YELP shares. TheStreet lowered Yelp from a “b-” rating to a “c” rating in a research report on Thursday, December 8th. Wells Fargo & Company increased their target price on Yelp from $31.00 to $39.00 in a research report on Monday, February 13th. Morgan Stanley increased their target price on Yelp from $26.00 to $28.00 and gave the stock an “underweight” rating in a research report on Friday, February 10th. Credit Suisse Group upped their price target on Yelp from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, February 10th. Finally, The Goldman Sachs Group upped their price target on Yelp from $32.00 to $37.00 and gave the stock a “neutral” rating in a research note on Friday, February 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Yelp has a consensus rating of “Hold” and a consensus price target of $36.00.

Yelp Trading Down 0.6 %

Shares of YELP opened at $29.84 on Thursday. The business’s fifty day simple moving average is $29.68 and its two-hundred day simple moving average is $31.92. Yelp Inc. has a 12 month low of $25.30 and a 12 month high of $39.26. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 58.51 and a beta of 1.45.

Yelp (NYSE:YELP – Get Rating) last released its quarterly earnings results on Thursday, February 9th. The local business review company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.03). The firm had revenue of $309.10 million during the quarter, compared to analysts’ expectations of $306.34 million. Yelp had a return on equity of 5.09% and a net margin of 3.05%. The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the business earned $0.30 earnings per share. As a group, research analysts forecast that Yelp Inc. will post 0.98 EPS for the current year.

About Yelp

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Yelp, Inc operates a platform that connects consumers with local businesses in the United States and internationally. The company’s platform covers various local business categories, including restaurants, shopping, beauty and fitness, health, and other categories, as well as home, local, auto, professional, pets, events, real estate, and financial services.