Insider Selling: Yelp Inc. (NYSE:YELP) COO Sells 6,500 Shares of Stock
Yelp Inc. (NYSE:YELP) COO Joseph R. Nachman sold 6,500 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $41.05, for a total value of $266,825.00. Following the completion of the sale, the chief operating officer now owns 124,615 shares in the company, valued at approximately $5,115,445.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Yelp Inc. (YELP) traded up 1.19% on Monday, reaching $42.53. The company’s stock had a trading volume of 2,422,269 shares. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of 269.18 and a beta of 1.48. Yelp Inc. has a 12 month low of $26.93 and a 12 month high of $43.41. The stock has a 50 day moving average of $33.41 and a 200-day moving average of $33.28.
Yelp (NYSE:YELP) last posted its quarterly earnings results on Thursday, August 3rd. The local business review company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.12. Yelp had a net margin of 1.67% and a return on equity of 1.60%. The business had revenue of $209.90 million during the quarter, compared to analyst estimates of $204.89 million. During the same period in the prior year, the business posted $0.16 earnings per share. The company’s revenue was up 21.0% on a year-over-year basis. On average, analysts anticipate that Yelp Inc. will post $0.07 EPS for the current year.
Yelp announced that its board has initiated a stock repurchase plan on Thursday, August 3rd that allows the company to buyback $200.00 million in shares. This buyback authorization allows the local business review company to repurchase up to 7.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
A number of hedge funds have recently bought and sold shares of YELP. Vanguard Group Inc. raised its stake in Yelp by 4.1% in the second quarter. Vanguard Group Inc. now owns 5,935,362 shares of the local business review company’s stock valued at $178,180,000 after buying an additional 231,754 shares during the last quarter. BlackRock Inc. raised its stake in Yelp by 84.9% in the second quarter. BlackRock Inc. now owns 5,232,684 shares of the local business review company’s stock valued at $157,084,000 after buying an additional 2,403,240 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its stake in Yelp by 38.7% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 3,116,090 shares of the local business review company’s stock valued at $93,545,000 after buying an additional 868,890 shares during the last quarter. Point72 Asset Management L.P. raised its stake in Yelp by 1,088.8% in the first quarter. Point72 Asset Management L.P. now owns 2,661,644 shares of the local business review company’s stock valued at $87,169,000 after buying an additional 2,437,744 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in Yelp by 658.2% in the second quarter. Fisher Asset Management LLC now owns 2,459,293 shares of the local business review company’s stock valued at $73,828,000 after buying an additional 2,134,942 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.
Several analysts have issued reports on YELP shares. Vetr upgraded Yelp from a “hold” rating to a “buy” rating and set a $36.94 price objective on the stock in a research note on Wednesday, May 3rd. Goldman Sachs Group, Inc. (The) upgraded Yelp from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $42.00 to $34.00 in a research note on Wednesday, May 10th. They noted that the move was a valuation call. Cantor Fitzgerald restated a “buy” rating and issued a $46.00 price objective on shares of Yelp in a research note on Friday, May 5th. Roth Capital set a $21.00 price objective on Yelp and gave the company a “sell” rating in a research note on Monday, July 31st. Finally, Robert W. Baird restated a “neutral” rating on shares of Yelp in a research note on Monday, July 3rd. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and eighteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $37.95.
Yelp Inc (Yelp) connects people with local businesses by bringing ‘word of mouth’ online and providing a platform for businesses and consumers to engage and transact. The Company offers local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences with other consumers by posting reviews, tips, photos and videos, and to engage directly with businesses, through reviews, its Request-A-Quote and Message the Business features, and by completing transactions on the Yelp Platform.
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