Joseph R. Nachman Sells 6,000 Shares of Yelp Inc. (NYSE:YELP) Stock

Yelp Inc. (NYSE:YELP) COO Joseph R. Nachman sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $38.83, for a total transaction of $232,980.00. Following the sale, the chief operating officer now directly owns 312,502 shares of the company’s stock, valued at approximately $12,134,452.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Yelp Trading Up 2.3 %

Shares of NYSE:YELP opened at $39.12 on Thursday. The stock has a market capitalization of $2.67 billion, a P/E ratio of 28.98 and a beta of 1.49. The business has a 50-day moving average price of $40.67 and a two-hundred day moving average price of $42.87. Yelp Inc. has a 1-year low of $26.53 and a 1-year high of $48.99.

Yelp (NYSE:YELP) last announced its quarterly earnings data on Thursday, February 15th. The local business review company reported $0.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.37. The firm had revenue of $342.38 million for the quarter, compared to analysts’ expectations of $341.83 million. Yelp had a net margin of 7.42% and a return on equity of 14.06%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the firm earned $0.28 earnings per share. As a group, equities analysts predict that Yelp Inc. will post 1.4 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. StockNews.com upgraded Yelp from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 24th. Raymond James assumed coverage on Yelp in a report on Wednesday. They set a “market perform” rating on the stock. Finally, Craig Hallum cut their price target on Yelp from $60.00 to $55.00 and set a “buy” rating for the company in a report on Friday, December 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Yelp has a consensus rating of “Hold” and a consensus price target of $41.75.

Institutional Investors Weigh In On Yelp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. C M Bidwell & Associates Ltd. acquired a new position in shares of Yelp during the 4th quarter worth about $27,000. Ronald Blue Trust Inc. boosted its stake in Yelp by 96.6% during the 3rd quarter. Ronald Blue Trust Inc. now owns 755 shares of the local business review company’s stock worth $31,000 after acquiring an additional 371 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in Yelp during the fourth quarter valued at approximately $43,000. Dark Forest Capital Management LP increased its stake in Yelp by 83.6% in the first quarter. Dark Forest Capital Management LP now owns 1,166 shares of the local business review company’s stock valued at $36,000 after purchasing an additional 531 shares in the last quarter. Finally, Belpointe Asset Management LLC raised its holdings in Yelp by 221.1% in the first quarter. Belpointe Asset Management LLC now owns 1,204 shares of the local business review company’s stock worth $37,000 after purchasing an additional 829 shares during the period. Institutional investors own 90.11% of the company’s stock.

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 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.