Yelp Inc. (NYSE:YELP) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its position in shares of Yelp Inc. (NYSE:YELP - Free Report) by 272.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 56,595 shares of the local business review company's stock after acquiring an additional 41,400 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.09% of Yelp worth $2,160,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of YELP. Ameriprise Financial Inc. lifted its position in Yelp by 375.2% in the fourth quarter. Ameriprise Financial Inc. now owns 1,331,835 shares of the local business review company's stock worth $51,542,000 after buying an additional 1,051,588 shares during the last quarter. LSV Asset Management lifted its position in Yelp by 163.4% in the fourth quarter. LSV Asset Management now owns 853,867 shares of the local business review company's stock worth $33,045,000 after buying an additional 529,667 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Yelp by 16.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,845,575 shares of the local business review company's stock worth $71,424,000 after buying an additional 255,775 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Yelp by 70.7% during the fourth quarter. JPMorgan Chase & Co. now owns 601,632 shares of the local business review company's stock worth $23,283,000 after purchasing an additional 249,231 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Yelp during the fourth quarter worth $7,455,000. 90.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Yelp news, insider Craig Saldanha sold 1,000 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $34.34, for a total value of $34,340.00. Following the completion of the transaction, the insider directly owned 213,720 shares of the company's stock, valued at approximately $7,339,144.80. The trade was a 0.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Sam Eaton sold 12,904 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $38.18, for a total value of $492,674.72. Following the completion of the transaction, the chief technology officer directly owned 145,064 shares of the company's stock, valued at $5,538,543.52. The trade was a 8.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,345 shares of company stock valued at $2,147,176 in the last three months. 8.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wall Street Zen lowered Yelp from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 21st. Morgan Stanley cut their target price on Yelp from $35.00 to $30.00 and set an "underweight" rating on the stock in a research note on Thursday, April 17th. Finally, JPMorgan Chase & Co. cut their target price on Yelp from $36.00 to $35.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Yelp currently has an average rating of "Hold" and an average price target of $34.00.

Yelp Trading Up 1.8%

Shares of YELP stock traded up $0.62 during trading hours on Thursday, reaching $35.20. 216,982 shares of the company's stock were exchanged, compared to its average volume of 766,178. The stock's fifty day moving average price is $36.50 and its two-hundred day moving average price is $36.84. The stock has a market cap of $2.25 billion, a PE ratio of 16.93, a PEG ratio of 0.82 and a beta of 0.98. Yelp Inc. has a 1 year low of $32.29 and a 1 year high of $41.72.

Yelp (NYSE:YELP - Get Free Report) last issued its earnings results on Thursday, May 8th. The local business review company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.05. The firm had revenue of $358.53 million for the quarter, compared to analyst estimates of $353.48 million. Yelp had a return on equity of 19.42% and a net margin of 9.95%. Yelp's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.20 earnings per share. On average, equities analysts expect that Yelp Inc. will post 2.22 EPS for the current fiscal year.

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.