Yelp Inc. (NYSE:YELP) COO Sells $253,680.00 in Stock

Yelp Inc. (NYSE:YELPGet Free Report) COO Joseph R. Nachman sold 7,000 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $36.24, for a total value of $253,680.00. Following the transaction, the chief operating officer now directly owns 288,842 shares in the company, valued at $10,467,634.08. The sale was disclosed in a filing with the SEC, which is available through this link.

Yelp Stock Performance

Shares of YELP traded down $0.47 during midday trading on Tuesday, hitting $35.91. 501,334 shares of the stock were exchanged, compared to its average volume of 726,703. Yelp Inc. has a 52-week low of $35.31 and a 52-week high of $48.99. The stock has a fifty day simple moving average of $37.19 and a 200 day simple moving average of $40.05. The firm has a market cap of $2.42 billion, a P/E ratio of 23.17 and a beta of 1.33.

Yelp (NYSE:YELPGet Free Report) last released its earnings results on Thursday, May 9th. The local business review company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.16. Yelp had a return on equity of 15.69% and a net margin of 8.44%. The firm had revenue of $332.75 million during the quarter, compared to analyst estimates of $333.66 million. As a group, equities research analysts forecast that Yelp Inc. will post 1.39 EPS for the current fiscal year.

Institutional Trading of Yelp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Gladius Capital Management LP raised its stake in Yelp by 10.8% in the fourth quarter. Gladius Capital Management LP now owns 2,835 shares of the local business review company’s stock valued at $134,000 after buying an additional 276 shares in the last quarter. Heron Bay Capital Management increased its position in shares of Yelp by 2.0% during the fourth quarter. Heron Bay Capital Management now owns 14,506 shares of the local business review company’s stock worth $687,000 after purchasing an additional 280 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Yelp by 0.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,231 shares of the local business review company’s stock worth $3,398,000 after purchasing an additional 288 shares in the last quarter. Meritage Portfolio Management increased its position in shares of Yelp by 2.2% during the fourth quarter. Meritage Portfolio Management now owns 14,121 shares of the local business review company’s stock worth $668,000 after purchasing an additional 308 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Yelp by 38.7% during the fourth quarter. Parallel Advisors LLC now owns 1,497 shares of the local business review company’s stock worth $71,000 after purchasing an additional 418 shares in the last quarter. 90.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on the company. Robert W. Baird dropped their price target on Yelp from $44.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, May 10th. Craig Hallum reduced their target price on Yelp from $55.00 to $48.00 and set a “buy” rating for the company in a report on Friday, May 10th. Finally, Raymond James assumed coverage on Yelp in a report on Wednesday, March 27th. They set a “market perform” rating for the company. Two research analysts have rated the stock with a sell rating, four 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $40.67.

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Yelp Company Profile

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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 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.

Further Reading

Insider Buying and Selling by Quarter for Yelp (NYSE:YELP)

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