Yelp Inc. (NYSE:YELP) COO Joseph R. Nachman Sells 6,000 Shares of Stock

Yelp Inc. (NYSE:YELP) COO Joseph R. Nachman sold 6,000 shares of the stock in a transaction on Friday, August 25th. The shares were sold at an average price of $42.00, for a total transaction of $252,000.00. Following the transaction, the chief operating officer now directly owns 291,232 shares in the company, valued at approximately $12,231,744. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Yelp Stock Down 0.2 %

Shares of YELP stock opened at $42.37 on Wednesday. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 70.62 and a beta of 1.49. The business’s fifty day moving average is $40.47 and its 200 day moving average is $34.41. Yelp Inc. has a twelve month low of $25.30 and a twelve month high of $47.59.

Yelp (NYSE:YELP) last released its earnings results on Thursday, August 3rd. The local business review company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.06. The firm had revenue of $337.13 million for the quarter, compared to the consensus estimate of $325.96 million. Yelp had a net margin of 3.38% and a return on equity of 6.46%. Equities research analysts expect that Yelp Inc. will post 1.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Yelp

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Exchange Traded Concepts LLC purchased a new stake in shares of Yelp in the 1st quarter worth approximately $25,000. IFP Advisors Inc boosted its holdings in Yelp by 127.6% in the fourth quarter. IFP Advisors Inc now owns 867 shares of the local business review company’s stock worth $37,000 after acquiring an additional 486 shares in the last quarter. U.S. Capital Wealth Advisors LLC bought a new position in shares of Yelp during the fourth quarter valued at $27,000. Dark Forest Capital Management LP raised its position in shares of Yelp by 83.6% in the 1st quarter. Dark Forest Capital Management LP now owns 1,166 shares of the local business review company’s stock worth $36,000 after purchasing an additional 531 shares during the last quarter. Finally, Belpointe Asset Management LLC boosted its stake in Yelp by 221.1% in the 1st quarter. Belpointe Asset Management LLC now owns 1,204 shares of the local business review company’s stock worth $37,000 after purchasing an additional 829 shares in the last quarter. Institutional investors own 90.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Craig Hallum started coverage on shares of Yelp in a research report on Friday, July 28th. They issued a “buy” rating and a $54.00 price objective on the stock. Credit Suisse Group upped their price target on Yelp from $43.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, August 7th. Morgan Stanley lifted their price objective on Yelp from $30.00 to $32.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 15th. KeyCorp downgraded Yelp from a “sector weight” rating to an “underweight” rating and set a $34.00 target price for the company. in a report on Monday, July 17th. Finally, Jefferies Financial Group lifted their price target on shares of Yelp from $32.00 to $39.00 and gave the company a “hold” rating in a report on Tuesday, July 25th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Yelp currently has a consensus rating of “Hold” and an average target price of $39.56.

Yelp Company Profile

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.