Dan Jedda Sells 2,794 Shares of Yelp Inc. (NYSE:YELP) Stock

Yelp Inc. (NYSE:YELP - Get Free Report) Director Dan Jedda sold 2,794 shares of Yelp stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $35.68, for a total transaction of $99,689.92. Following the completion of the sale, the director now owns 18,564 shares in the company, valued at approximately $662,363.52. This trade represents a 13.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Yelp Trading Up 0.6%

NYSE YELP traded up $0.21 on Monday, reaching $35.62. 965,365 shares of the company were exchanged, compared to its average volume of 752,649. The business's fifty day moving average price is $36.37 and its 200 day moving average price is $37.37. The stock has a market capitalization of $2.27 billion, a P/E ratio of 18.55, a price-to-earnings-growth ratio of 0.76 and a beta of 1.02. Yelp Inc. has a fifty-two week low of $32.29 and a fifty-two week high of $41.72.

Yelp (NYSE:YELP - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The local business review company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.05. Yelp had a net margin of 9.41% and a return on equity of 18.07%. The firm had revenue of $358.53 million for the quarter, compared to analysts' expectations of $353.48 million. During the same quarter in the previous year, the company posted $0.20 EPS. The company's revenue was up 7.7% compared to the same quarter last year. Equities research analysts forecast that Yelp Inc. will post 2.22 earnings per share for the current year.

Analyst Ratings Changes

YELP has been the subject of several research reports. JPMorgan Chase & Co. cut their price objective on Yelp from $36.00 to $35.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Wall Street Zen raised Yelp from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 6th. Finally, Morgan Stanley dropped their target price on shares of Yelp from $35.00 to $30.00 and set an "underweight" rating for the company in a report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $34.00.

Hedge Funds Weigh In On Yelp

Several institutional investors and hedge funds have recently bought and sold shares of the company. Allworth Financial LP raised its position in shares of Yelp by 82.5% during the 4th quarter. Allworth Financial LP now owns 637 shares of the local business review company's stock valued at $25,000 after buying an additional 288 shares during the period. Farther Finance Advisors LLC increased its stake in 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 worth $42,000 after acquiring an additional 827 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Yelp in the first quarter valued at $52,000. Strs Ohio acquired a new position in shares of Yelp in the 1st quarter valued at $56,000. Finally, McIlrath & Eck LLC purchased a new position in shares of Yelp during the 4th quarter worth $63,000. 90.11% of the stock is currently owned by institutional investors and hedge funds.

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.

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