Nuveen LLC Takes Position in Yelp Inc. $YELP

Key Points

• Nuveen LLC has invested approximately $13.81 million in Yelp Inc., acquiring 372,977 shares, representing about 0.57% of the company's stock.
• Multiple institutional investors have increased their stakes in Yelp, with Allspring Global Investments boosting their holdings by 272.5% during the first quarter.
• Yelp recently reported earnings of $0.67 per share for the last quarter, exceeding analysts' expectations of $0.48, alongside a revenue of $370.39 million.

Nuveen LLC acquired a new stake in shares of Yelp Inc. (NYSE:YELP - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 372,977 shares of the local business review company's stock, valued at approximately $13,811,000. Nuveen LLC owned about 0.57% of Yelp at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its holdings in Yelp by 307.4% during the first 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 during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Yelp during the first quarter worth about $52,000. McIlrath & Eck LLC bought a new stake in Yelp in the fourth quarter worth about $63,000. Fifth Third Bancorp raised its position in Yelp by 57.7% in the first quarter. Fifth Third Bancorp now owns 1,725 shares of the local business review company's stock worth $64,000 after acquiring an additional 631 shares during the period. Finally, Signaturefd LLC raised its position in Yelp by 47.3% in the first quarter. Signaturefd LLC now owns 1,936 shares of the local business review company's stock worth $72,000 after acquiring an additional 622 shares during the period. 90.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the stock. Bank of America lowered their price objective on shares of Yelp from $31.00 to $30.00 and set an "underperform" rating on the stock in a research report on Friday, August 8th. Wall Street Zen lowered shares of Yelp from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Four equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $34.00.

Yelp Stock Performance

Yelp stock traded up $0.13 during midday trading on Wednesday, reaching $31.56. 671,053 shares of the stock were exchanged, compared to its average volume of 1,046,302. The company's fifty day moving average is $33.63 and its 200-day moving average is $35.33. The firm has a market cap of $1.99 billion, a PE ratio of 14.28, a PEG ratio of 0.80 and a beta of 0.97. Yelp Inc. has a 52 week low of $29.96 and a 52 week high of $41.72.

Yelp (NYSE:YELP - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The local business review company reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.19. The firm had revenue of $370.39 million for the quarter, compared to analyst estimates of $365.71 million. Yelp had a net margin of 10.28% and a return on equity of 20.17%. The business's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.54 EPS. Yelp has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Yelp Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Activity

In other Yelp news, Director Dan Jedda sold 2,794 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $35.68, for a total transaction of $99,689.92. Following the completion of the sale, the director owned 18,564 shares of the company's stock, valued at $662,363.52. This represents a 13.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Craig Saldanha sold 1,000 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $32.33, for a total transaction of $32,330.00. Following the completion of the sale, the insider directly owned 204,900 shares of the company's stock, valued at approximately $6,624,417. This represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,755 shares of company stock worth $1,285,051. 8.00% of the stock is currently owned by corporate insiders.

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.