PNC Financial Services Group Inc. Sells 457 Shares of Yelp Inc. (NYSE:YELP)

PNC Financial Services Group Inc. lowered its position in shares of Yelp Inc. (NYSE:YELP) by 5.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,951 shares of the local business review company’s stock after selling 457 shares during the period. PNC Financial Services Group Inc.’s holdings in Yelp were worth $294,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in YELP. Ameriprise Financial Inc. lifted its stake in Yelp by 375.2% during the fourth quarter. Ameriprise Financial Inc. now owns 1,331,835 shares of the local business review company’s stock worth $51,542,000 after purchasing an additional 1,051,588 shares during the last quarter. LSV Asset Management lifted its stake in shares of Yelp by 122.8% in the 1st quarter. LSV Asset Management now owns 1,902,318 shares of the local business review company’s stock valued at $70,443,000 after acquiring an additional 1,048,451 shares during the last quarter. Jupiter Asset Management Ltd. lifted its stake in shares of Yelp by 1,620.5% in the 1st quarter. Jupiter Asset Management Ltd. now owns 204,587 shares of the local business review company’s stock valued at $7,576,000 after acquiring an additional 192,696 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Yelp by 9.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,924,457 shares of the local business review company’s stock valued at $74,477,000 after acquiring an additional 164,149 shares during the last quarter. Finally, Moran Wealth Management LLC bought a new stake in shares of Yelp in the 1st quarter valued at about $5,134,000. Institutional investors own 90.11% of the company’s stock.

Insider Activity at Yelp

In related news, CTO Sam Eaton sold 12,904 shares of the business’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $38.18, for a total transaction of $492,674.72. Following the transaction, the chief technology officer owned 145,064 shares in the company, valued at $5,538,543.52. The trade was a 8.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO David A. Schwarzbach sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $34.68, for a total value of $346,800.00. Following the transaction, the chief financial officer owned 199,654 shares in the company, valued at $6,924,000.72. This trade represents a 4.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,345 shares of company stock worth $2,151,656 over the last 90 days. 8.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on YELP shares. JPMorgan Chase & Co. lowered their target price on Yelp from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. Wall Street Zen lowered Yelp from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, Bank of America lowered their target price on Yelp from $31.00 to $30.00 and set an “underperform” rating for the company in a research note on Friday, August 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $34.00.

Yelp Price Performance

Shares of NYSE:YELP opened at $30.95 on Friday. Yelp Inc. has a 1 year low of $29.96 and a 1 year high of $41.72. The company has a market cap of $1.98 billion, a PE ratio of 14.00, a P/E/G ratio of 0.79 and a beta of 0.97. The stock’s 50-day moving average is $34.35 and its 200 day moving average is $35.76.

Yelp (NYSE:YELP) last announced its quarterly earnings results on Thursday, August 7th. The local business review company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.19. Yelp had a return on equity of 20.17% and a net margin of 10.28%. The company had revenue of $370.39 million for the quarter, compared to the consensus estimate of $365.71 million. During the same quarter in the previous year, the business earned $0.54 EPS. Yelp’s revenue was up 3.7% compared to the same quarter last year. Analysts expect that Yelp Inc. will post 2.22 EPS for the current fiscal 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.