Yelp Inc (NYSE:YELP) COO Joseph R. Nachman sold 14,500 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $41.84, for a total transaction of $606,680.00. Following the completion of the sale, the chief operating officer now owns 127,855 shares in the company, valued at approximately $5,349,453.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Yelp Inc (NYSE:YELP) traded up $0.62 during trading on Friday, hitting $44.23. 739,884 shares of the stock were exchanged, compared to its average volume of 1,730,466. Yelp Inc has a 1 year low of $26.93 and a 1 year high of $48.40. The company has a market cap of $3,593.24, a P/E ratio of 25.49, a P/E/G ratio of 6.68 and a beta of 1.14.
Several institutional investors have recently added to or reduced their stakes in YELP. FMR LLC bought a new position in shares of Yelp during the 2nd quarter valued at approximately $2,402,000. Voya Investment Management LLC grew its position in shares of Yelp by 37.7% during the 2nd quarter. Voya Investment Management LLC now owns 35,864 shares of the local business review company’s stock valued at $1,077,000 after acquiring an additional 9,814 shares during the period. State Street Corp grew its position in shares of Yelp by 64.2% during the 2nd quarter. State Street Corp now owns 1,477,939 shares of the local business review company’s stock valued at $44,365,000 after acquiring an additional 577,743 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Yelp by 2,704.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 59,922 shares of the local business review company’s stock valued at $1,798,000 after acquiring an additional 57,785 shares during the period. Finally, California State Teachers Retirement System grew its position in shares of Yelp by 1.0% during the 2nd quarter. California State Teachers Retirement System now owns 137,621 shares of the local business review company’s stock valued at $4,131,000 after acquiring an additional 1,427 shares during the period. 90.37% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently weighed in on YELP shares. Zacks Investment Research lowered shares of Yelp from a “buy” rating to a “hold” rating in a report on Thursday, November 23rd. Piper Jaffray Companies restated an “underweight” rating and issued a $37.00 target price (down previously from $38.00) on shares of Yelp in a report on Thursday, December 7th. Bank of America upped their target price on shares of Yelp from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Evercore ISI started coverage on shares of Yelp in a report on Tuesday, December 5th. They issued an “in-line” rating and a $46.00 target price on the stock. Finally, Robert W. Baird upped their target price on shares of Yelp from $37.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eighteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $43.66.
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Yelp Company Profile
Yelp Inc (Yelp) connects people with local businesses by bringing ‘word of mouth’ online and providing a platform for businesses and consumers to engage and transact. The Company offers local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences with other consumers by posting reviews, tips, photos and videos, and to engage directly with businesses, through reviews, its Request-A-Quote and Message the Business features, and by completing transactions on the Yelp Platform.
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