Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $2.27 Million Holdings in Yelp Inc. (NYSE:YELP)

Posted by Defense World Staff on Aug 18th, 2023

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its stake in Yelp Inc. (NYSE:YELP – Free Report) by 1.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,802 shares of the local business review company’s stock after selling 795 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.11% of Yelp worth $2,266,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC bought a new stake in shares of Yelp in the first quarter worth $25,000. IFP Advisors Inc raised its position in shares of Yelp by 127.6% in the fourth quarter. IFP Advisors Inc now owns 867 shares of the local business review company’s stock valued at $37,000 after purchasing an additional 486 shares during the period. U.S. Capital Wealth Advisors LLC bought a new position in shares of Yelp in the fourth quarter valued at about $27,000. Gladius Capital Management LP bought a new position in shares of Yelp in the fourth quarter valued at about $53,000. Finally, Ronald Blue Trust Inc. raised its position in shares of Yelp by 49.6% in the first quarter. Ronald Blue Trust Inc. now owns 2,369 shares of the local business review company’s stock valued at $65,000 after purchasing an additional 785 shares during the period. Institutional investors and hedge funds own 88.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on YELP shares. TheStreet upgraded shares of Yelp from a “c+” rating to a “b” rating in a research note on Thursday, August 3rd. Credit Suisse Group upped their price target on shares of Yelp from $43.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, August 7th. Jefferies Financial Group increased their price objective on shares of Yelp from $32.00 to $39.00 and gave the stock a “hold” rating in a research note on Tuesday, July 25th. Craig Hallum initiated coverage on shares of Yelp in a research note on Friday, July 28th. They set a “buy” rating and a $54.00 price objective on the stock. Finally, Morgan Stanley increased their price objective on shares of Yelp from $30.00 to $32.00 and gave the stock an “underweight” rating in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Yelp presently has a consensus rating of “Hold” and an average target price of $39.56.

Get Our Latest Report on YELP

Yelp Trading Down 1.9 %

YELP stock opened at $41.27 on Friday. The stock has a market capitalization of $2.84 billion, a P/E ratio of 68.78 and a beta of 1.49. Yelp Inc. has a 12 month low of $25.30 and a 12 month high of $47.59. The firm has a 50-day moving average price of $39.65 and a 200-day moving average price of $33.89.

Yelp (NYSE:YELP – Get Free Report) last issued its quarterly earnings data on Thursday, August 3rd. The local business review company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.06. Yelp had a net margin of 3.38% and a return on equity of 6.46%. The business had revenue of $337.13 million during the quarter, compared to analyst estimates of $325.96 million. As a group, equities analysts predict that Yelp Inc. will post 1.02 EPS for the current fiscal year.

Insider Activity

In other news, CTO Sam Eaton sold 18,850 shares of Yelp stock in a transaction on Monday, July 31st. The shares were sold at an average price of $45.51, for a total value of $857,863.50. Following the completion of the sale, the chief technology officer now owns 216,165 shares in the company, valued at approximately $9,837,669.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO David A. Schwarzbach sold 2,750 shares of Yelp stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $43.28, for a total value of $119,020.00. Following the completion of the sale, the chief financial officer now owns 230,185 shares in the company, valued at approximately $9,962,406.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Sam Eaton sold 18,850 shares of Yelp stock in a transaction on Monday, July 31st. The shares were sold at an average price of $45.51, for a total transaction of $857,863.50. Following the completion of the sale, the chief technology officer now owns 216,165 shares of the company’s stock, valued at approximately $9,837,669.15. The disclosure for this sale can be found here. Insiders sold 107,735 shares of company stock worth $4,554,979 in the last quarter. 7.20% of the stock is owned by corporate insiders.

About Yelp

(Free Report)

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.