77,090 Shares in Yelp Inc. (NYSE:YELP) Bought by Edgestream Partners L.P.

Edgestream Partners L.P. purchased a new position in Yelp Inc. (NYSE:YELP - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 77,090 shares of the local business review company's stock, valued at approximately $2,855,000. Edgestream Partners L.P. owned 0.12% of Yelp at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. CWM LLC lifted its stake in shares of Yelp by 406.6% in the 1st quarter. CWM LLC now owns 23,322 shares of the local business review company's stock worth $864,000 after acquiring an additional 18,718 shares during the period. Xponance Inc. acquired a new stake in shares of Yelp in the 1st quarter worth approximately $259,000. Fonville Wealth Management LLC acquired a new stake in shares of Yelp in the 1st quarter worth approximately $368,000. Kesler Norman & Wride LLC acquired a new stake in shares of Yelp in the 1st quarter worth approximately $956,000. Finally, Banque Pictet & Cie SA bought a new stake in shares of Yelp in the 1st quarter worth approximately $492,000. 90.11% of the stock is owned by institutional investors and hedge funds.

Yelp Stock Up 0.2%

Shares of YELP stock traded up $0.06 during trading hours on Thursday, reaching $34.65. 873,579 shares of the stock traded hands, compared to its average volume of 768,992. Yelp Inc. has a 1-year low of $32.29 and a 1-year high of $41.72. The business has a fifty day moving average price of $36.41 and a 200 day moving average price of $36.66. The firm has a market capitalization of $2.21 billion, a PE ratio of 16.66, a PEG ratio of 0.82 and a beta of 0.98.

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, beating analysts' consensus estimates of $0.31 by $0.05. Yelp had a net margin of 9.95% and a return on equity of 19.42%. The business had revenue of $358.53 million for the quarter, compared to analyst estimates of $353.48 million. During the same quarter in the previous year, the business earned $0.20 earnings per share. The firm's revenue was up 7.7% compared to the same quarter last year. Research analysts expect 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 a number of research reports. Wall Street Zen downgraded shares of Yelp from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 21st. JPMorgan Chase & Co. dropped their target price on shares of Yelp from $36.00 to $35.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Finally, Morgan Stanley dropped their target price 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, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $34.00.

Insider Transactions at Yelp

In other Yelp news, Director Dan Jedda sold 2,794 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $35.68, for a total value of $99,689.92. Following the transaction, the director owned 18,564 shares in the company, valued at approximately $662,363.52. This represents a 13.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig Saldanha sold 1,000 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $34.34, for a total transaction of $34,340.00. Following the completion of the sale, the insider directly owned 213,720 shares of the company's stock, valued at $7,339,144.80. This represents a 0.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,345 shares of company stock worth $2,150,876. 8.00% of the stock is owned by company insiders.

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.