Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its stake in Yelp Inc. (NYSE:YELP – Free Report) by 1.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,802 shares of the local business review company’s stock after selling 795 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.11% of Yelp worth $2,266,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. Millennium Management LLC grew its position in Yelp by 12,790.7% during the fourth quarter. Millennium Management LLC now owns 1,269,731 shares of the local business review company’s stock valued at $34,714,000 after acquiring an additional 1,259,881 shares during the last quarter. Norges Bank bought a new position in Yelp during the fourth quarter valued at approximately $19,208,000. Vanguard Group Inc. grew its position in Yelp by 7.8% during the first quarter. Vanguard Group Inc. now owns 8,257,853 shares of the local business review company’s stock valued at $281,675,000 after acquiring an additional 596,879 shares during the last quarter. Pacer Advisors Inc. grew its position in Yelp by 81.0% during the fourth quarter. Pacer Advisors Inc. now owns 510,298 shares of the local business review company’s stock valued at $13,952,000 after acquiring an additional 228,442 shares during the last quarter. Finally, Morgan Stanley grew its position in Yelp by 34.9% during the fourth quarter. Morgan Stanley now owns 739,310 shares of the local business review company’s stock valued at $20,213,000 after acquiring an additional 191,452 shares during the last quarter. 88.46% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Yelp
In other Yelp news, CEO Jeremy Stoppelman sold 10,000 shares of the firm’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $45.00, for a total transaction of $450,000.00. Following the completion of the transaction, the chief executive officer now owns 2,183,310 shares of the company’s stock, valued at $98,248,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CTO Sam Eaton sold 10,181 shares of the firm’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $32.31, for a total transaction of $328,948.11. Following the completion of the transaction, the chief technology officer now directly owns 216,165 shares in the company, valued at $6,984,291.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeremy Stoppelman sold 10,000 shares of the firm’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $45.00, for a total value of $450,000.00. Following the transaction, the chief executive officer now owns 2,183,310 shares of the company’s stock, valued at $98,248,950. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 107,735 shares of company stock valued at $4,554,979. 7.20% of the stock is currently owned by company insiders.
Yelp Stock Down 1.9 %
Yelp (NYSE:YELP – Get Free Report) last announced its quarterly earnings data on Thursday, August 3rd. The local business review company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.15 by $0.06. The business had revenue of $337.13 million during the quarter, compared to analyst estimates of $325.96 million. Yelp had a return on equity of 6.46% and a net margin of 3.38%. Equities research analysts anticipate that Yelp Inc. will post 1.02 earnings per share for the current year.
Wall Street Analyst Weigh In
YELP has been the topic of a number of recent research reports. TheStreet upgraded shares of Yelp from a “c+” rating to a “b” rating in a research report on Thursday, August 3rd. Credit Suisse Group increased their price objective on Yelp from $43.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, August 7th. StockNews.com initiated coverage on Yelp in a research note on Thursday. They set a “strong-buy” rating for the company. Craig Hallum initiated coverage on Yelp in a research note on Friday, July 28th. They set a “buy” rating and a $54.00 price objective for the company. Finally, Barclays increased their price objective on Yelp from $26.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, August 7th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $39.56.
Read Our Latest Report on Yelp
Yelp Company Profile
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.
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