Credit Suisse AG Sells 14,018 Shares of Yelp Inc. (NYSE:YELP)

Credit Suisse AG decreased its stake in Yelp Inc. (NYSE:YELP) by 11.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,342 shares of the local business review company’s stock after selling 14,018 shares during the period. Credit Suisse AG owned about 0.16% of Yelp worth $3,480,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in shares of Yelp by 33.5% during the first quarter. PNC Financial Services Group Inc. now owns 4,944 shares of the local business review company’s stock valued at $169,000 after acquiring an additional 1,241 shares during the last quarter. MetLife Investment Management LLC raised its stake in shares of Yelp by 41.2% during the first quarter. MetLife Investment Management LLC now owns 81,542 shares of the local business review company’s stock valued at $2,781,000 after acquiring an additional 23,806 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Yelp by 4.2% during the first quarter. Rhumbline Advisers now owns 196,631 shares of the local business review company’s stock valued at $6,707,000 after acquiring an additional 8,007 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Yelp by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,154 shares of the local business review company’s stock valued at $858,000 after acquiring an additional 2,398 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its stake in shares of Yelp by 9.2% during the first quarter. Great West Life Assurance Co. Can now owns 39,573 shares of the local business review company’s stock valued at $1,389,000 after acquiring an additional 3,344 shares during the last quarter. Institutional investors own 90.11% of the company’s stock.

Yelp Stock Down 0.0 %

Shares of NYSE YELP opened at $42.85 on Friday. The firm’s 50-day moving average price is $40.74 and its 200-day moving average price is $34.54. The company has a market cap of $2.94 billion, a PE ratio of 71.42 and a beta of 1.49. Yelp Inc. has a 52-week low of $25.30 and a 52-week high of $47.59.

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

Insider Buying and Selling at Yelp

In other news, CFO David A. Schwarzbach sold 2,750 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $43.28, for a total transaction of $119,020.00. Following the completion of the transaction, the chief financial officer now directly owns 230,185 shares in the company, valued at approximately $9,962,406.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Yelp news, COO Joseph R. Nachman sold 6,000 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $42.00, for a total value of $252,000.00. Following the completion of the sale, the chief operating officer now owns 291,232 shares of the company’s stock, valued at $12,231,744. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO David A. Schwarzbach sold 2,750 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $43.28, for a total value of $119,020.00. Following the completion of the sale, the chief financial officer now directly owns 230,185 shares of the company’s stock, valued at approximately $9,962,406.80. The disclosure for this sale can be found here. Insiders sold a total of 97,068 shares of company stock valued at $4,259,875 in the last three months. 7.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on YELP. Morgan Stanley lifted their target price on shares of Yelp from $30.00 to $32.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 15th. Jefferies Financial Group lifted their target price on shares of Yelp from $32.00 to $39.00 and gave the stock a “hold” rating in a research note on Tuesday, July 25th. Craig Hallum began coverage on shares of Yelp in a research note on Friday, July 28th. They issued a “buy” rating and a $54.00 price target for the company. Barclays increased their price objective on shares of Yelp from $26.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, August 7th. Finally, TheStreet upgraded Yelp from a “c+” rating to a “b” rating in a report on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Yelp presently has an average rating of “Hold” and an average price target of $39.56.

Yelp 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.