Yelp Inc. (NYSE:YELP - Get Free Report) CTO Alexander Coleman Levy sold 3,829 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $23.40, for a total value of $89,598.60. Following the completion of the sale, the chief technology officer directly owned 54,124 shares of the company's stock, valued at approximately $1,266,501.60. This trade represents a 6.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Yelp Stock Up 1.7%
YELP stock opened at $23.86 on Tuesday. The firm has a market capitalization of $1.29 billion, a PE ratio of 11.41, a P/E/G ratio of 2.14 and a beta of 0.46. The stock's 50 day moving average is $25.01 and its 200-day moving average is $24.54. Yelp Inc. has a twelve month low of $19.60 and a twelve month high of $34.49. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.16.
Yelp (NYSE:YELP - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The local business review company reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.21. Yelp had a net margin of 8.59% and a return on equity of 19.52%. The firm had revenue of $375.52 million for the quarter, compared to the consensus estimate of $366.89 million. During the same period in the previous year, the firm earned $0.67 EPS. The business's revenue for the quarter was up 1.4% compared to the same quarter last year. Sell-side analysts expect that Yelp Inc. will post 1.84 EPS for the current fiscal year.
Hedge Funds Weigh In On Yelp
Several institutional investors have recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC increased its holdings in Yelp by 100.0% during the third quarter. CIBC Private Wealth Group LLC now owns 892 shares of the local business review company's stock worth $28,000 after buying an additional 446 shares during the last quarter. Fifth Third Bancorp boosted its stake in Yelp by 70.4% in the fourth quarter. Fifth Third Bancorp now owns 1,159 shares of the local business review company's stock valued at $35,000 after acquiring an additional 479 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Yelp by 71.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,158 shares of the local business review company's stock valued at $35,000 after acquiring an additional 482 shares during the period. Hantz Financial Services Inc. grew its position in shares of Yelp by 181.3% during the 4th quarter. Hantz Financial Services Inc. now owns 1,297 shares of the local business review company's stock valued at $39,000 after acquiring an additional 836 shares during the period. Finally, Strs Ohio purchased a new stake in shares of Yelp during the 1st quarter worth approximately $56,000. Institutional investors own 90.11% of the company's stock.
Analysts Set New Price Targets
Several research analysts recently weighed in on YELP shares. Morgan Stanley cut their price target on shares of Yelp from $28.00 to $24.00 and set an "underweight" rating on the stock in a report on Friday, May 15th. Zacks Research raised shares of Yelp from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 14th. Robert W. Baird set a $28.00 target price on Yelp in a research note on Friday, May 8th. Evercore set a $30.00 target price on Yelp in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. increased their price target on Yelp from $22.00 to $26.00 and gave the company a "neutral" rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Yelp currently has a consensus rating of "Reduce" and a consensus target price of $27.57.
Check Out Our Latest Stock Report on Yelp
About Yelp
(
Get Free Report)
Yelp is a digital platform that connects consumers with local businesses through user-generated reviews, ratings and multimedia content. The company's flagship offerings include the Yelp website and mobile applications for iOS and Android, where users can search for and discover restaurants, shops, service providers and other points of interest. In addition to crowd-sourced reviews and photographs, Yelp provides business profile pages featuring hours, contact information, menus and direct messaging capabilities.
Yelp generates revenue primarily through advertising services sold to small and medium-sized enterprises.
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