Millennium Management LLC Has $3.21 Million Holdings in Yelp Inc. (NYSE:YELP)

Millennium Management LLC lessened its holdings in Yelp Inc. (NYSE:YELP - Free Report) by 21.8% 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 83,032 shares of the local business review company's stock after selling 23,205 shares during the quarter. Millennium Management LLC owned approximately 0.13% of Yelp worth $3,213,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in YELP. Allworth Financial LP lifted its stake in Yelp by 82.5% in the fourth quarter. Allworth Financial LP now owns 637 shares of the local business review company's stock valued at $25,000 after buying an additional 288 shares during the last quarter. Avion Wealth raised its stake in shares of Yelp by 1,963.6% during the fourth 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 in the last quarter. Fifth Third Bancorp raised its stake in shares of Yelp by 76.5% during the fourth 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 in the last quarter. 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 purchasing an additional 263 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Yelp by 445.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the local business review company's stock valued at $80,000 after purchasing an additional 1,683 shares in the last quarter. Institutional investors and hedge funds own 90.11% of the company's stock.

Insider Buying and Selling at Yelp

In other Yelp news, CFO David A. Schwarzbach sold 10,000 shares of the company's stock in a transaction that occurred on 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 sale, the chief financial officer now owns 219,654 shares of the company's stock, valued at $8,390,782.80. This represents a 4.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Sam Eaton sold 12,904 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $38.18, for a total value of $492,674.72. Following the sale, the chief technology officer now directly owns 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 57,828 shares of company stock valued at $2,118,690 in the last 90 days. 8.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on YELP. JPMorgan Chase & Co. cut their price objective on shares of Yelp from $36.00 to $35.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley cut their price objective on shares of Yelp from $35.00 to $30.00 and set an "underweight" rating on the stock in a research note on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Yelp presently has a consensus rating of "Hold" and a consensus price target of $34.00.

Yelp Price Performance

NYSE YELP traded down $1.01 on Monday, hitting $37.17. 1,020,500 shares of the company were exchanged, compared to its average volume of 740,769. The company's 50 day moving average price is $36.33 and its 200-day moving average price is $37.35. The firm has a market capitalization of $2.37 billion, a P/E ratio of 19.36, a price-to-earnings-growth ratio of 0.76 and a beta of 0.99. 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 released 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. Yelp had a return on equity of 18.07% and a net margin of 9.41%. The company 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 business's revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities analysts expect that Yelp Inc. will post 2.22 EPS for the current year.

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.