Truist Financial Corp Buys 706 Shares of Yelp Inc. $YELP

Truist Financial Corp increased its holdings in Yelp Inc. (NYSE:YELP) by 2.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,776 shares of the local business review company’s stock after acquiring an additional 706 shares during the quarter. Truist Financial Corp’s holdings in Yelp were worth $918,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its position in shares of Yelp by 307.4% during the first quarter. Farther Finance Advisors LLC now owns 1,096 shares of the local business review company’s stock valued at $42,000 after buying an additional 827 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Yelp during the first quarter valued at about $52,000. Strs Ohio purchased a new stake in shares of Yelp during the first quarter valued at about $56,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Yelp during the first quarter valued at about $62,000. Finally, Fifth Third Bancorp lifted its position in shares of Yelp by 57.7% during the first quarter. Fifth Third Bancorp now owns 1,725 shares of the local business review company’s stock valued at $64,000 after buying an additional 631 shares during the last quarter. 90.11% of the stock is owned by hedge funds and other institutional investors.

Yelp Stock Performance

Yelp stock opened at $33.94 on Tuesday. The company’s fifty day moving average price is $31.67 and its 200 day moving average price is $34.28. Yelp Inc. has a 1 year low of $29.96 and a 1 year high of $41.72. The stock has a market capitalization of $2.14 billion, a P/E ratio of 15.36, a P/E/G ratio of 0.76 and a beta of 0.98.

Yelp (NYSE:YELP) last announced its quarterly earnings data on Thursday, August 7th. The local business review company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.19. The company had revenue of $370.39 million for the quarter, compared to analyst estimates of $365.71 million. Yelp had a return on equity of 20.17% and a net margin of 10.28%.The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 EPS. Yelp has set its FY 2025 guidance at EPS. Sell-side analysts predict that Yelp Inc. will post 2.22 EPS for the current year.

Analyst Ratings Changes

YELP has been the subject of several analyst reports. Evercore ISI set a $45.00 price target on shares of Yelp and gave the company an “outperform” rating in a research report on Monday. Bank of America decreased their price objective on shares of Yelp from $31.00 to $30.00 and set an “underperform” rating for the company in a research report on Friday, August 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Yelp in a research report on Saturday, September 27th. Finally, Wall Street Zen lowered shares of Yelp from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $35.40.

Insider Transactions at Yelp

In other Yelp news, insider Carmen Amara sold 1,500 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $32.33, for a total transaction of $48,495.00. Following the sale, the insider directly owned 85,566 shares in the company, valued at $2,766,348.78. This represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David A. Schwarzbach sold 10,000 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $31.24, for a total transaction of $312,400.00. Following the sale, the chief financial officer owned 170,196 shares in the company, valued at $5,316,923.04. This trade represents a 5.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,400 shares of company stock worth $1,211,130 in the last quarter. Company insiders own 7.40% of the company’s stock.

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.