CX Institutional Buys New Stake in Yelp Inc. (NYSE:YELP)

CX Institutional bought a new stake in shares of Yelp Inc. (NYSE:YELP - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 72,614 shares of the local business review company's stock, valued at approximately $2,689,000. CX Institutional owned 0.11% of Yelp at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Asset Management One Co. Ltd. raised its stake 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 acquiring an additional 263 shares in the last quarter. Allworth Financial LP raised its stake in shares of 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 in the last quarter. State of Wyoming raised its stake in shares of Yelp by 3.5% during the fourth quarter. State of Wyoming now owns 9,030 shares of the local business review company's stock valued at $349,000 after acquiring an additional 307 shares in the last quarter. Summit Investment Advisors Inc. raised its stake in shares of Yelp by 5.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,767 shares of the local business review company's stock valued at $262,000 after acquiring an additional 341 shares in the last quarter. Finally, Martingale Asset Management L P raised its stake in shares of Yelp by 0.8% during the fourth quarter. Martingale Asset Management L P now owns 60,697 shares of the local business review company's stock valued at $2,349,000 after acquiring an additional 457 shares in the last quarter. Hedge funds and other institutional investors own 90.11% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Morgan Stanley decreased their price target 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. Wall Street Zen raised shares of Yelp from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 6th. Finally, JPMorgan Chase & Co. decreased their price target 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 investment 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 stock. According to MarketBeat, Yelp presently has a consensus rating of "Hold" and an average target price of $34.00.

Insider Activity

In other news, insider Craig Saldanha sold 1,000 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $36.34, for a total transaction of $36,340.00. Following the sale, the insider now directly owns 223,512 shares of the company's stock, valued at $8,122,426.08. The trade was a 0.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Sam Eaton sold 12,904 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $38.18, for a total transaction of $492,674.72. Following the sale, the chief technology officer now directly 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. Insiders have sold 45,551 shares of company stock valued at $1,692,686 over the last ninety days. 7.40% of the stock is currently owned by insiders.

Yelp Stock Down 1.2%

YELP stock traded down $0.44 during trading on Friday, hitting $35.38. 767,111 shares of the company's stock traded hands, compared to its average volume of 751,794. The firm has a market capitalization of $2.26 billion, a P/E ratio of 18.43, a PEG ratio of 0.76 and a beta of 1.02. The business has a fifty day simple moving average of $36.37 and a two-hundred day simple moving average of $37.37. 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 quarterly earnings results on Thursday, May 8th. The local business review company reported $0.36 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $353.48 million. During the same period in the previous year, the company earned $0.20 earnings per share. The business's revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities research analysts predict that Yelp Inc. will post 2.22 EPS for the current fiscal year.

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.