Potrero Capital Research LLC cut its holdings in shares of Yelp Inc (NYSE:YELP) by 66.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 68,859 shares of the local business review company’s stock after selling 134,126 shares during the quarter. Yelp comprises 1.3% of Potrero Capital Research LLC’s investment portfolio, making the stock its 25th largest holding. Potrero Capital Research LLC owned approximately 0.09% of Yelp worth $2,354,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of YELP. Dimensional Fund Advisors LP lifted its holdings in shares of Yelp by 28.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,022,480 shares of the local business review company’s stock worth $35,776,000 after buying an additional 224,363 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Yelp by 13.0% during the fourth quarter. Geode Capital Management LLC now owns 1,053,283 shares of the local business review company’s stock worth $36,854,000 after buying an additional 121,261 shares during the last quarter. California Public Employees Retirement System lifted its holdings in shares of Yelp by 5.1% during the first quarter. California Public Employees Retirement System now owns 133,349 shares of the local business review company’s stock worth $4,601,000 after buying an additional 6,488 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of Yelp by 3.3% during the first quarter. Great West Life Assurance Co. Can now owns 46,884 shares of the local business review company’s stock worth $1,616,000 after buying an additional 1,486 shares during the last quarter. Finally, Crystal Rock Capital Management acquired a new position in shares of Yelp during the first quarter worth approximately $1,564,000. Institutional investors own 92.69% of the company’s stock.
YELP has been the subject of a number of research analyst reports. Oppenheimer reiterated a “hold” rating on shares of Yelp in a report on Friday, August 9th. ValuEngine upgraded Yelp from a “sell” rating to a “hold” rating in a report on Thursday, June 27th. DA Davidson reiterated a “buy” rating on shares of Yelp in a report on Friday, August 9th. Morgan Stanley set a $32.00 price target on Yelp and gave the stock a “sell” rating in a report on Monday, July 15th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $44.00 price target (up from $42.00) on shares of Yelp in a report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company. Yelp currently has an average rating of “Hold” and a consensus price target of $38.54.
Yelp (NYSE:YELP) last issued its earnings results on Thursday, August 8th. The local business review company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. Yelp had a return on equity of 4.62% and a net margin of 6.26%. The business had revenue of $246.96 million during the quarter, compared to analyst estimates of $247.63 million. During the same period in the prior year, the company posted $0.12 earnings per share. Yelp’s revenue was up 5.1% on a year-over-year basis. Sell-side analysts forecast that Yelp Inc will post 0.68 earnings per share for the current fiscal year.
Yelp Inc operates a platform that connects consumers with local businesses in the United States, Canada, and internationally. The company's platform covers various local business categories, including restaurants, shopping, beauty and fitness, arts, entertainment and events, home and local services, health, nightlife, travel and hotel, auto, and others.
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