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

Bank of America Corp DE trimmed its stake in shares of Yelp Inc. (NYSE:YELP - Free Report) by 17.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (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 about 0.34% of Yelp worth $8,721,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Allworth Financial LP raised its stake in Yelp by 82.5% during the fourth quarter. Allworth Financial LP now owns 637 shares of the local business review company's stock worth $25,000 after acquiring an additional 288 shares in the last quarter. Avion Wealth increased its position in Yelp by 1,963.6% during the 4th quarter. Avion Wealth now owns 908 shares of the local business review company's stock valued at $35,000 after purchasing an additional 864 shares during the period. Fifth Third Bancorp increased its position 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 purchasing an additional 474 shares during the period. Asset Management One Co. Ltd. increased its position in Yelp by 16.9% during 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 purchasing an additional 263 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in shares of Yelp by 445.2% during the 4th 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 during the period. 90.11% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Carmen Amara sold 1,500 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $33.16, for a total value of $49,740.00. Following the transaction, the insider now owns 107,207 shares in the company, valued at $3,554,984.12. The trade was a 1.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO David A. Schwarzbach sold 10,000 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $38.20, for a total transaction of $382,000.00. Following the completion of the transaction, the chief financial officer now owns 219,654 shares in the company, valued at approximately $8,390,782.80. The trade was a 4.35% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,828 shares of company stock worth $2,118,690. Corporate insiders own 8.00% of the company's stock.

Yelp Stock Down 0.2%

Shares of YELP stock traded down $0.09 during mid-day trading on Thursday, reaching $38.67. 752,464 shares of the company's stock traded hands, compared to its average volume of 737,743. Yelp Inc. has a 12 month low of $32.29 and a 12 month high of $41.72. The company has a market cap of $2.47 billion, a P/E ratio of 20.14, a P/E/G ratio of 0.76 and a beta of 0.99. The company's 50-day moving average price is $36.32 and its 200-day moving average price is $37.35.

Yelp (NYSE:YELP - Get Free Report) last announced 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. 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 business posted $0.20 EPS. The company's quarterly revenue was up 7.7% on a year-over-year basis. Equities analysts predict that Yelp Inc. will post 2.22 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Morgan Stanley cut their target price on 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 price objective on shares of Yelp from $36.00 to $35.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $34.00.

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.