Bank of America Corp DE Sells 47,819 Shares of Yelp Inc. (NYSE:YELP)

Bank of America Corp DE reduced its stake in Yelp Inc. (NYSE:YELP - Free Report) by 17.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 225,353 shares of the local business review company's stock after selling 47,819 shares during the quarter. Bank of America Corp DE owned approximately 0.34% of Yelp worth $8,721,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Allworth Financial LP raised its holdings in Yelp by 82.5% during the fourth quarter. Allworth Financial LP now owns 637 shares of the local business review company's stock valued at $25,000 after acquiring an additional 288 shares during the period. Avion Wealth lifted its holdings in Yelp by 1,963.6% in the 4th quarter. Avion Wealth now owns 908 shares of the local business review company's stock worth $35,000 after purchasing an additional 864 shares in the last quarter. Fifth Third Bancorp grew its holdings in Yelp by 76.5% during the 4th quarter. Fifth Third Bancorp now owns 1,094 shares of the local business review company's stock valued at $42,000 after buying an additional 474 shares in the last quarter. Asset Management One Co. Ltd. raised its position in shares of Yelp by 16.9% during the fourth 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 lifted its holdings in shares of Yelp by 445.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the local business review company's stock worth $80,000 after buying an additional 1,683 shares in the last quarter. 90.11% of the stock is owned by institutional investors.

Yelp Stock Up 0.7%

YELP traded up $0.28 on Wednesday, hitting $38.74. The company had a trading volume of 259,529 shares, compared to its average volume of 735,609. The company has a market cap of $2.47 billion, a PE ratio of 20.21, a PEG ratio of 0.76 and a beta of 0.99. Yelp Inc. has a 12-month low of $32.29 and a 12-month high of $41.72. The business's fifty day simple moving average is $36.22 and its 200 day simple moving average is $37.33.

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

Insider Buying and Selling

In other Yelp news, insider Carmen Amara sold 6,886 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $38.19, for a total value of $262,976.34. Following the completion of the sale, the insider now owns 92,253 shares of the company's stock, valued at $3,523,142.07. This trade represents a 6.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David A. Schwarzbach sold 10,000 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $34.31, for a total transaction of $343,100.00. Following the completion of the sale, the chief financial officer now directly owns 239,112 shares of the company's stock, valued at approximately $8,203,932.72. The trade was a 4.01% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 57,828 shares of company stock worth $2,118,690. Corporate insiders own 8.00% of the company's stock.

Wall Street Analyst Weigh In

YELP has been the topic of a number of research reports. Morgan Stanley reduced 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. JPMorgan Chase & Co. reduced their target price on Yelp from $36.00 to $35.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Two research 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 MarketBeat, the company has a consensus rating of "Hold" and an average price target of $34.00.

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.