Raymond James Financial Inc. Has $2.95 Million Position in Yelp Inc. $YELP

Raymond James Financial Inc. lowered its stake in shares of Yelp Inc. (NYSE:YELP) by 3.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,603 shares of the local business review company’s stock after selling 2,811 shares during the quarter. Raymond James Financial Inc. owned about 0.12% of Yelp worth $2,948,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of YELP. Farther Finance Advisors LLC boosted its holdings in shares of Yelp by 307.4% during the 1st quarter. Farther Finance Advisors LLC now owns 1,096 shares of the local business review company’s stock valued at $42,000 after acquiring an additional 827 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Yelp in the 1st quarter worth about $52,000. McIlrath & Eck LLC bought a new position in shares of Yelp in the 4th quarter worth about $63,000. Fifth Third Bancorp raised its position in shares of Yelp by 57.7% in the 1st quarter. Fifth Third Bancorp now owns 1,725 shares of the local business review company’s stock worth $64,000 after acquiring an additional 631 shares in the last quarter. Finally, Signaturefd LLC grew its stake in shares of Yelp by 47.3% in the 1st quarter. Signaturefd LLC now owns 1,936 shares of the local business review company’s stock valued at $72,000 after buying an additional 622 shares during the period. Institutional investors and hedge funds own 90.11% of the company’s stock.

Yelp Stock Up 0.8%

Yelp stock opened at $31.97 on Monday. Yelp Inc. has a 52 week low of $29.96 and a 52 week high of $41.72. The company’s 50 day moving average price is $33.26 and its two-hundred day moving average price is $34.94. The stock has a market cap of $2.02 billion, a P/E ratio of 14.46, a P/E/G ratio of 0.80 and a beta of 1.03.

Yelp (NYSE:YELP) last posted its earnings results on Thursday, August 7th. The local business review company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.48 by $0.19. Yelp had a net margin of 10.28% and a return on equity of 20.17%. The firm had revenue of $370.39 million for the quarter, compared to analysts’ expectations of $365.71 million. During the same quarter last year, the firm earned $0.54 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. Yelp has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Yelp Inc. will post 2.22 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on YELP. Bank of America reduced 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. Wall Street Zen downgraded Yelp from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 9th. Four analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $34.00.

Insider Activity at Yelp

In related news, Director Dan Jedda sold 2,794 shares of Yelp stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $35.68, for a total value of $99,689.92. Following the sale, the director owned 18,564 shares of the company’s stock, valued at approximately $662,363.52. The trade was a 13.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David A. Schwarzbach sold 10,000 shares of Yelp stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $31.43, for a total transaction of $314,300.00. Following the completion of the sale, the chief financial officer directly owned 180,196 shares in the company, valued at $5,663,560.28. This trade represents a 5.26% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,494 shares of company stock worth $1,305,389. Company insiders own 7.40% of the company’s stock.

About Yelp

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.