Insider Selling: Yelp Inc. (YELP) Director Sells 6,000 Shares of Stock
Yelp Inc. (NYSE:YELP) Director Geoffrey L. Donaker sold 6,000 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $47.00, for a total value of $282,000.00. Following the completion of the sale, the director now directly owns 9,590 shares of the company’s stock, valued at approximately $450,730. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Yelp (NYSE:YELP) last announced its quarterly earnings data on Wednesday, November 1st. The local business review company reported $0.29 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.30. The firm had revenue of $222.40 million for the quarter, compared to analyst estimates of $220.75 million. Yelp had a return on equity of 1.60% and a net margin of 1.67%. The company’s revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.22 EPS.
Yelp declared that its Board of Directors has approved a stock repurchase plan on Thursday, August 3rd that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the local business review company to repurchase up to 7.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.
Several equities research analysts have recently commented on YELP shares. Jefferies Group LLC increased their price objective on Yelp from $37.00 to $43.00 and gave the company a “buy” rating in a report on Friday, August 4th. Needham & Company LLC reissued a “buy” rating and issued a $43.00 price objective (up previously from $30.00) on shares of Yelp in a report on Friday, August 4th. MKM Partners raised Yelp from a “neutral” rating to a “buy” rating and increased their price objective for the company from $27.00 to $31.31 in a report on Friday, August 4th. Credit Suisse Group set a $40.00 price objective on Yelp and gave the company a “buy” rating in a report on Friday, August 4th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $45.00 price objective (up previously from $36.00) on shares of Yelp in a report on Friday, August 4th. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $43.15.
Several institutional investors have recently made changes to their positions in YELP. Strs Ohio bought a new position in shares of Yelp during the 2nd quarter valued at about $108,000. Russell Investments Group Ltd. increased its position in shares of Yelp by 98.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,091 shares of the local business review company’s stock valued at $123,000 after purchasing an additional 2,033 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Yelp during the 2nd quarter valued at about $205,000. ProShare Advisors LLC bought a new position in shares of Yelp during the 2nd quarter valued at about $215,000. Finally, Prudential Financial Inc. bought a new position in shares of Yelp during the 2nd quarter valued at about $249,000. Hedge funds and other institutional investors own 89.28% of the company’s stock.
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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