Insider Selling: Yelp Inc. (NYSE:YELP) COO Sells 6,000 Shares of Stock

Yelp Inc. (NYSE:YELPGet Rating) COO Joseph R. Nachman sold 6,000 shares of the business’s stock in a transaction on Thursday, April 21st. The shares were sold at an average price of $34.81, for a total transaction of $208,860.00. Following the sale, the chief operating officer now owns 342,102 shares of the company’s stock, valued at approximately $11,908,570.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of YELP traded down $1.25 during midday trading on Friday, hitting $32.61. 631,375 shares of the stock traded hands, compared to its average volume of 666,053. Yelp Inc. has a 1-year low of $30.19 and a 1-year high of $43.28. The firm has a market capitalization of $2.32 billion, a PE ratio of 65.22 and a beta of 1.75. The business’s 50 day moving average price is $34.10 and its two-hundred day moving average price is $35.63.

Yelp (NYSE:YELPGet Rating) last announced its quarterly earnings results on Thursday, February 10th. The local business review company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.15. Yelp had a net margin of 3.84% and a return on equity of 5.02%. The company had revenue of $273.40 million during the quarter, compared to the consensus estimate of $272.10 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. As a group, equities analysts forecast that Yelp Inc. will post 1.06 earnings per share for the current fiscal year.

Several analysts have weighed in on YELP shares. Zacks Investment Research upgraded shares of Yelp from a “hold” rating to a “strong-buy” rating and set a $39.00 target price for the company in a research note on Thursday, April 14th. StockNews.com began coverage on shares of Yelp in a research note on Thursday, March 31st. They set a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $39.57.

Hedge funds have recently bought and sold shares of the stock. Morgan Stanley raised its position in Yelp by 1,703.4% in the second quarter. Morgan Stanley now owns 1,130,357 shares of the local business review company’s stock worth $45,170,000 after acquiring an additional 1,067,679 shares in the last quarter. New York State Teachers Retirement System raised its position in Yelp by 51.5% in the third quarter. New York State Teachers Retirement System now owns 33,815 shares of the local business review company’s stock worth $1,259,000 after acquiring an additional 11,501 shares in the last quarter. State of New Jersey Common Pension Fund D raised its position in Yelp by 10.7% in the third quarter. State of New Jersey Common Pension Fund D now owns 72,470 shares of the local business review company’s stock worth $2,699,000 after acquiring an additional 7,023 shares in the last quarter. SG Americas Securities LLC raised its position in Yelp by 512.8% in the third quarter. SG Americas Securities LLC now owns 45,246 shares of the local business review company’s stock worth $1,685,000 after acquiring an additional 37,862 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Yelp by 60.5% in the third quarter. Victory Capital Management Inc. now owns 16,952 shares of the local business review company’s stock worth $631,000 after acquiring an additional 6,387 shares in the last quarter. 88.10% of the stock is owned by institutional investors and hedge funds.

Yelp Company Profile (Get Rating)

Yelp Inc operates a platform that connects consumers with local businesses in the United States and internationally. The company's platform covers various local business 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.

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