Point72 Asia Singapore Pte. Ltd. Trims Stock Position in Yelp Inc. (NYSE:YELP)

Point72 Asia Singapore Pte. Ltd. trimmed its stake in Yelp Inc. (NYSE:YELP) by 5.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,639 shares of the local business review company’s stock after selling 395 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Yelp were worth $245,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Norges Bank purchased a new stake in Yelp in the fourth quarter worth about $20,718,000. Pacer Advisors Inc. raised its position in shares of Yelp by 4.3% in the 2nd quarter. Pacer Advisors Inc. now owns 2,695,536 shares of the local business review company’s stock worth $99,600,000 after acquiring an additional 111,936 shares in the last quarter. Edgestream Partners L.P. lifted its stake in shares of Yelp by 159.4% in the 2nd quarter. Edgestream Partners L.P. now owns 169,786 shares of the local business review company’s stock valued at $6,274,000 after purchasing an additional 104,330 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Yelp during the first quarter valued at approximately $3,861,000. Finally, Great Lakes Advisors LLC grew its stake in Yelp by 39.2% in the second quarter. Great Lakes Advisors LLC now owns 308,459 shares of the local business review company’s stock worth $11,398,000 after purchasing an additional 86,836 shares during the period. Institutional investors own 90.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. StockNews.com lowered Yelp from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Bank of America began coverage on shares of Yelp in a research note on Monday, September 16th. They set an “underperform” rating and a $30.00 target price for the company. Wolfe Research assumed coverage on shares of Yelp in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Morgan Stanley increased their price target on shares of Yelp from $32.00 to $34.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Yelp from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Yelp has a consensus rating of “Hold” and an average price target of $37.20.

Insider Transactions at Yelp

In related news, CTO Sam Eaton sold 10,776 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $35.00, for a total value of $377,160.00. Following the transaction, the chief technology officer now directly owns 145,171 shares of the company’s stock, valued at approximately $5,080,985. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, COO Joseph R. Nachman sold 7,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $33.25, for a total transaction of $232,750.00. Following the completion of the transaction, the chief operating officer now owns 281,842 shares in the company, valued at $9,371,246.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Sam Eaton sold 10,776 shares of Yelp stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $35.00, for a total value of $377,160.00. Following the completion of the sale, the chief technology officer now directly owns 145,171 shares in the company, valued at $5,080,985. The disclosure for this sale can be found here. Insiders sold a total of 24,776 shares of company stock valued at $863,590 over the last 90 days. Company insiders own 7.40% of the company’s stock.

Yelp Stock Performance

NYSE YELP opened at $33.85 on Friday. The business’s fifty day moving average is $34.55 and its 200 day moving average is $36.80. The company has a market capitalization of $2.26 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 0.82 and a beta of 1.33. Yelp Inc. has a fifty-two week low of $32.56 and a fifty-two week high of $48.99.

Yelp (NYSE:YELP) last issued its quarterly earnings results on Thursday, August 8th. The local business review company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.27. Yelp had a net margin of 10.01% and a return on equity of 18.71%. The business had revenue of $357.00 million for the quarter, compared to the consensus estimate of $352.98 million. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, sell-side analysts forecast that Yelp Inc. will post 1.65 EPS for the current year.

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 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.