Banque Pictet & Cie SA Acquires New Position in Yelp Inc. (NYSE:YELP)

Banque Pictet & Cie SA acquired a new stake in Yelp Inc. (NYSE:YELP - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,282 shares of the local business review company's stock, valued at approximately $492,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in shares of Yelp by 307.4% during the 1st quarter. Farther Finance Advisors LLC now owns 1,096 shares of the local business review company's stock worth $42,000 after purchasing an additional 827 shares in the last quarter. McIlrath & Eck LLC purchased a new position in shares of Yelp during the 4th quarter worth approximately $63,000. Fifth Third Bancorp increased its stake in shares of Yelp by 57.7% during the 1st quarter. Fifth Third Bancorp now owns 1,725 shares of the local business review company's stock worth $64,000 after purchasing an additional 631 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Yelp by 78.3% during the 1st quarter. Parallel Advisors LLC now owns 2,585 shares of the local business review company's stock worth $96,000 after purchasing an additional 1,135 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of Yelp during the 1st quarter worth approximately $203,000. Institutional investors and hedge funds own 90.11% of the company's stock.

Analyst Ratings Changes

YELP has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped 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. Wall Street Zen cut shares of Yelp from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 21st. Finally, Morgan Stanley lowered their target price on shares of Yelp from $35.00 to $30.00 and set an "underweight" rating for the company in a research note 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 given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $34.00.

Insider Transactions at Yelp

In other news, insider Craig Saldanha sold 1,000 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $34.34, for a total value of $34,340.00. Following the completion of the sale, the insider 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Sam Eaton sold 12,904 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $38.18, for a total transaction of $492,674.72. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 58,345 shares of company stock worth $2,147,176 over the last three months. Insiders own 8.00% of the company's stock.

Yelp Stock Performance

Shares of NYSE:YELP traded down $0.97 during midday trading on Friday, hitting $34.14. 562,890 shares of the company's stock traded hands, compared to its average volume of 767,456. The company has a market cap of $2.18 billion, a PE ratio of 16.41, a P/E/G ratio of 0.83 and a beta of 0.98. The firm's fifty day moving average price is $36.50 and its two-hundred day moving average price is $36.82. Yelp Inc. has a twelve month low of $32.29 and a twelve month high of $41.72.

Yelp (NYSE:YELP - Get Free Report) last posted 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. The business had revenue of $358.53 million for the quarter, compared to analyst estimates of $353.48 million. Yelp had a net margin of 9.95% and a return on equity of 19.42%. The business's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.20 EPS. As a group, equities research analysts anticipate that Yelp Inc. will post 2.22 EPS for the current fiscal year.

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.