Allspring Global Investments Holdings LLC Reduces Position in Yelp Inc. $YELP

Allspring Global Investments Holdings LLC lessened its stake in shares of Yelp Inc. (NYSE:YELP) by 52.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,960 shares of the local business review company’s stock after selling 29,635 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Yelp were worth $924,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Hancock Whitney Corp lifted its stake in Yelp by 7.4% during the 1st quarter. Hancock Whitney Corp now owns 6,986 shares of the local business review company’s stock valued at $259,000 after acquiring an additional 480 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Yelp by 0.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 76,376 shares of the local business review company’s stock valued at $2,828,000 after acquiring an additional 506 shares during the period. Signaturefd LLC lifted its stake in Yelp by 47.3% during the 1st quarter. Signaturefd LLC now owns 1,936 shares of the local business review company’s stock valued at $72,000 after acquiring an additional 622 shares during the period. Meritage Portfolio Management lifted its stake in Yelp by 4.3% during the 2nd quarter. Meritage Portfolio Management now owns 16,387 shares of the local business review company’s stock valued at $562,000 after acquiring an additional 672 shares during the period. Finally, Pinnacle Holdings LLC lifted its stake in Yelp by 2.1% during the 1st quarter. Pinnacle Holdings LLC now owns 34,649 shares of the local business review company’s stock valued at $1,283,000 after acquiring an additional 698 shares during the period. Hedge funds and other institutional investors own 90.11% of the company’s stock.

Yelp Stock Performance

NYSE:YELP opened at $33.35 on Thursday. The company has a fifty day moving average of $31.78 and a two-hundred day moving average of $34.12. The stock has a market capitalization of $2.10 billion, a PE ratio of 15.09, a P/E/G ratio of 0.84 and a beta of 0.98. Yelp Inc. has a fifty-two week low of $29.96 and a fifty-two week high of $41.72.

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

Insiders Place Their Bets

In other Yelp news, insider Carmen Amara sold 1,500 shares of the company’s stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $31.37, for a total transaction of $47,055.00. Following the completion of the transaction, the insider directly owned 84,066 shares in the company, valued at approximately $2,637,150.42. This represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Craig Saldanha sold 1,200 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $30.93, for a total transaction of $37,116.00. Following the completion of the transaction, the insider directly owned 202,500 shares in the company, valued at approximately $6,263,325. This represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,400 shares of company stock worth $1,164,900. Company insiders own 8.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on YELP shares. Zacks Research upgraded shares of Yelp from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Yelp in a research note on Tuesday, October 14th. Bank of America decreased their target price on shares of 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 cut shares of Yelp from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, The Goldman Sachs Group set a $33.00 target price on shares of Yelp in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Yelp currently has an average rating of “Hold” and a consensus target price of $35.00.

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.