Assenagon Asset Management S.A. Has $2.48 Million Stock Holdings in Yelp Inc. (NYSE:YELP)

Assenagon Asset Management S.A. lessened its position in Yelp Inc. (NYSE:YELP - Free Report) by 86.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 66,830 shares of the local business review company's stock after selling 441,160 shares during the period. Assenagon Asset Management S.A. owned about 0.10% of Yelp worth $2,475,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in YELP. Allworth Financial LP increased its stake 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 worth $25,000 after purchasing an additional 288 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Yelp by 307.4% in the 1st quarter. Farther Finance Advisors LLC now owns 1,096 shares of the local business review company's stock valued at $42,000 after purchasing an additional 827 shares during the last quarter. McIlrath & Eck LLC acquired a new position in shares of Yelp in the fourth quarter valued at approximately $63,000. Asset Management One Co. Ltd. grew its position in shares of Yelp by 16.9% in the 4th quarter. Asset Management One Co. Ltd. now owns 1,815 shares of the local business review company's stock valued at $70,000 after buying an additional 263 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of Yelp by 445.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the local business review company's stock worth $80,000 after acquiring an additional 1,683 shares in the last quarter. Institutional investors and hedge funds own 90.11% of the company's stock.

Yelp Trading Up 0.6%

Shares of Yelp stock opened at $35.62 on Tuesday. The stock has a 50-day moving average price of $36.43 and a 200 day moving average price of $37.35. The company has a market cap of $2.27 billion, a P/E ratio of 18.55, a P/E/G ratio of 0.76 and a beta of 1.02. 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 released its 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 business had revenue of $358.53 million during the quarter, compared to analysts' expectations of $353.48 million. During the same quarter last year, the company earned $0.20 earnings per share. The firm's revenue was up 7.7% on a year-over-year basis. On average, equities analysts forecast that Yelp Inc. will post 2.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

YELP has been the topic of several analyst reports. JPMorgan Chase & Co. decreased their price target on Yelp from $36.00 to $35.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Wall Street Zen upgraded shares of Yelp from a "buy" rating to a "strong-buy" rating in a report on Friday, June 6th. Finally, Morgan Stanley cut their price target on shares of Yelp from $35.00 to $30.00 and set an "underweight" rating on the stock in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $34.00.

Insider Activity at Yelp

In other Yelp news, CFO David A. Schwarzbach sold 10,000 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $38.20, for a total value of $382,000.00. Following the transaction, the chief financial officer now directly owns 219,654 shares in the company, valued at $8,390,782.80. The trade was a 4.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Sam Eaton sold 12,904 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $38.18, for a total transaction of $492,674.72. Following the completion of the transaction, the chief technology officer now owns 145,064 shares in the company, valued at $5,538,543.52. This trade represents a 8.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,345 shares of company stock worth $2,149,176. 8.00% of the stock is owned by insiders.

About Yelp

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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