Yelp (NYSE:YELP – Get Rating) had its price target lowered by equities researchers at Wells Fargo & Company from $40.00 to $35.00 in a research report issued on Monday, The Fly reports. Wells Fargo & Company‘s price objective suggests a potential upside of 13.49% from the stock’s current price.
Other research analysts have also issued research reports about the company. StockNews.com upgraded Yelp from a “buy” rating to a “strong-buy” rating in a research report on Friday. Zacks Investment Research upgraded Yelp from a “hold” rating to a “strong-buy” rating and set a $39.00 price target for the company in a research report on Thursday, April 14th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $38.43.
NYSE:YELP opened at $30.84 on Monday. Yelp has a 12-month low of $30.19 and a 12-month high of $43.28. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 54.11 and a beta of 1.66. The firm’s 50 day moving average is $33.71.
In other news, COO Joseph R. Nachman sold 6,000 shares of the business’s stock in a transaction on Thursday, April 21st. The stock was sold at an average price of $34.81, for a total value 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Joseph R. Nachman sold 20,500 shares of the business’s stock in a transaction on Friday, April 1st. The stock was sold at an average price of $34.24, for a total value of $701,920.00. Following the sale, the chief operating officer now directly owns 348,102 shares in the company, valued at $11,919,012.48. The disclosure for this sale can be found here. Insiders sold a total of 46,679 shares of company stock worth $1,604,162 in the last three months. Company insiders own 9.50% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Yelp by 1.7% during the fourth quarter. BlackRock Inc. now owns 8,059,568 shares of the local business review company’s stock worth $292,080,000 after purchasing an additional 131,593 shares during the period. Acadian Asset Management LLC raised its position in Yelp by 37.0% during the fourth quarter. Acadian Asset Management LLC now owns 1,650,838 shares of the local business review company’s stock valued at $59,806,000 after buying an additional 445,602 shares during the period. Macquarie Group Ltd. raised its position in Yelp by 1.0% during the third quarter. Macquarie Group Ltd. now owns 1,588,236 shares of the local business review company’s stock valued at $59,146,000 after buying an additional 16,394 shares during the period. Tenzing Global Management LLC raised its position in Yelp by 31.3% during the third quarter. Tenzing Global Management LLC now owns 1,575,000 shares of the local business review company’s stock valued at $58,653,000 after buying an additional 375,000 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Yelp by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,555,703 shares of the local business review company’s stock valued at $56,379,000 after buying an additional 26,627 shares during the period. 88.33% of the stock is currently owned by institutional investors.
About Yelp (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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