Zurcher Kantonalbank Zurich Cantonalbank Has $571,000 Holdings in Yelp Inc. (NYSE:YELP)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Yelp Inc. (NYSE:YELP) by 6.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,424 shares of the local business review company’s stock after acquiring an additional 894 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Yelp were worth $571,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in YELP. Skandinaviska Enskilda Banken AB publ bought a new stake in Yelp in the 1st quarter worth about $1,348,000. Cetera Investment Advisers grew its position in Yelp by 25.5% in the 1st quarter. Cetera Investment Advisers now owns 7,410 shares of the local business review company’s stock worth $274,000 after purchasing an additional 1,504 shares in the last quarter. Royce & Associates LP grew its position in Yelp by 7.8% in the 1st quarter. Royce & Associates LP now owns 57,642 shares of the local business review company’s stock worth $2,134,000 after purchasing an additional 4,192 shares in the last quarter. Readystate Asset Management LP bought a new stake in Yelp in the 1st quarter worth about $3,285,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in Yelp in the 1st quarter worth about $52,000. Institutional investors and hedge funds own 90.11% of the company’s stock.

Insider Activity at Yelp

In related news, insider Carmen Amara sold 6,886 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $38.19, for a total transaction of $262,976.34. Following the sale, the insider directly owned 92,253 shares in the company, valued at approximately $3,523,142.07. This represents a 6.95% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO David A. Schwarzbach sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $34.68, for a total transaction of $346,800.00. Following the sale, the chief financial officer owned 199,654 shares in the company, valued at $6,924,000.72. The trade was a 4.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,345 shares of company stock worth $2,151,656 in the last ninety days. Insiders own 8.00% of the company’s stock.

Yelp Stock Up 1.8%

Yelp stock opened at $34.15 on Thursday. Yelp Inc. has a twelve month low of $32.28 and a twelve month high of $41.72. The firm has a 50 day moving average price of $35.18 and a 200-day moving average price of $36.20. The company has a market capitalization of $2.18 billion, a P/E ratio of 16.42, a P/E/G ratio of 0.79 and a beta of 0.97.

Yelp (NYSE:YELP) last released its earnings results on Thursday, May 8th. The local business review company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. The firm had revenue of $358.53 million during the quarter, compared to the consensus estimate of $353.48 million. Yelp had a net margin of 9.95% and a return on equity of 19.42%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.20 EPS. Equities analysts expect that Yelp Inc. will post 2.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Yelp from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. Wall Street Zen raised shares of Yelp from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 18th. Finally, Morgan Stanley reduced their price objective on shares of Yelp from $35.00 to $30.00 and set an “underweight” rating for the company in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Yelp currently has a consensus rating of “Hold” and a consensus price target of $34.00.

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 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.