Insider Selling: Yelp (YELP) COO Sells 10,500 Shares of Stock

Yelp (NYSE:YELP) COO Joseph R. Nachman sold 10,500 shares of Yelp stock in a transaction dated Monday, May 21st. The stock was sold at an average price of $46.98, for a total value of $493,290.00. Following the completion of the sale, the chief operating officer now owns 121,861 shares in the company, valued at $5,725,029.78. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Shares of YELP stock traded up $0.31 during trading on Wednesday, hitting $44.47. 1,444,600 shares of the stock traded hands, compared to its average volume of 1,467,475. The firm has a market cap of $3.89 billion, a PE ratio of 635.29, a PEG ratio of 13.30 and a beta of 1.10. Yelp has a 52-week low of $27.22 and a 52-week high of $48.40.

Yelp (NYSE:YELP) last released its quarterly earnings results on Thursday, May 10th. The local business review company reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.05). The firm had revenue of $223.07 million for the quarter, compared to analysts’ expectations of $220.17 million. Yelp had a net margin of 17.80% and a return on equity of 0.47%. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 EPS. sell-side analysts forecast that Yelp will post 0.14 EPS for the current fiscal year.

Several equities research analysts recently issued reports on YELP shares. Zacks Investment Research cut Yelp from a “hold” rating to a “strong sell” rating in a report on Saturday, April 14th. Bank of America lifted their price objective on Yelp from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Morgan Stanley decreased their target price on shares of Yelp from $43.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 8th. ValuEngine lowered shares of Yelp from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Finally, Credit Suisse Group raised their target price on shares of Yelp from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, May 11th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirteen have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $46.01.

Several hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in Yelp by 3,318.1% in the first quarter. Victory Capital Management Inc. now owns 1,113,620 shares of the local business review company’s stock valued at $46,494,000 after purchasing an additional 1,081,040 shares during the period. Renaissance Technologies LLC raised its position in Yelp by 464.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,145,700 shares of the local business review company’s stock valued at $48,074,000 after purchasing an additional 942,600 shares during the period. William Blair Investment Management LLC raised its position in Yelp by 20.8% in the fourth quarter. William Blair Investment Management LLC now owns 3,167,281 shares of the local business review company’s stock valued at $132,899,000 after purchasing an additional 546,282 shares during the period. BlackRock Inc. raised its position in Yelp by 10.4% in the fourth quarter. BlackRock Inc. now owns 5,533,628 shares of the local business review company’s stock valued at $232,190,000 after purchasing an additional 521,218 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in Yelp in the first quarter valued at approximately $20,291,000. 87.89% of the stock is currently owned by hedge funds and other institutional investors.

Yelp Company Profile

Yelp Inc operates a platform that connects people 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.

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

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