Vident Advisory LLC Acquires 104,340 Shares of Yelp Inc. $YELP

Key Points

• Vident Advisory LLC increased its stake in Yelp Inc. by 109.5%, acquiring an additional 104,340 shares, bringing its total holdings to 199,626 shares valued at approximately $7.39 million.
• Recent analyst ratings for Yelp have shown a downward trend, with Bank of America lowering its price target to $30.00 and several analysts assigning a "Reduce" average rating and target price of $34.00.
• Yelp reported a quarterly earnings per share (EPS) of $0.67, surpassing analyst expectations of $0.48, with revenue for the quarter totaling $370.39 million, reflecting a 3.7% increase year-over-year.

Vident Advisory LLC grew its holdings in Yelp Inc. (NYSE:YELP - Free Report) by 109.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 199,626 shares of the local business review company's stock after purchasing an additional 104,340 shares during the period. Vident Advisory LLC owned approximately 0.31% of Yelp worth $7,392,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. OMERS ADMINISTRATION Corp raised its position in shares of Yelp by 47.0% in the first quarter. OMERS ADMINISTRATION Corp now owns 47,630 shares of the local business review company's stock valued at $1,764,000 after purchasing an additional 15,230 shares during the period. Comerica Bank grew its stake in Yelp by 27.3% during the first quarter. Comerica Bank now owns 33,137 shares of the local business review company's stock valued at $1,227,000 after acquiring an additional 7,107 shares in the last quarter. Jump Financial LLC purchased a new position in Yelp during the first quarter valued at approximately $1,945,000. Ameriprise Financial Inc. grew its stake in Yelp by 5.4% during the first quarter. Ameriprise Financial Inc. now owns 1,403,461 shares of the local business review company's stock valued at $51,981,000 after acquiring an additional 71,626 shares in the last quarter. Finally, Martingale Asset Management L P grew its stake in Yelp by 3.9% during the first quarter. Martingale Asset Management L P now owns 63,091 shares of the local business review company's stock valued at $2,336,000 after acquiring an additional 2,394 shares in the last quarter. Institutional investors own 90.11% of the company's stock.

Analyst Ratings Changes

YELP has been the subject of several recent analyst reports. Bank of America reduced their price objective on shares of Yelp from $31.00 to $30.00 and set an "underperform" rating for the company in a research note on Friday, August 8th. Wall Street Zen cut shares of Yelp from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Yelp currently has an average rating of "Reduce" and an average target price of $34.00.

Yelp Price Performance

YELP stock opened at $31.61 on Friday. Yelp Inc. has a one year low of $29.96 and a one year high of $41.72. The stock has a market cap of $1.99 billion, a PE ratio of 14.30, a P/E/G ratio of 0.79 and a beta of 0.97. The firm has a 50 day simple moving average of $33.51 and a two-hundred day simple moving average of $35.21.

Yelp (NYSE:YELP - Get Free Report) last released 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. Yelp had a net margin of 10.28% and a return on equity of 20.17%. The business had revenue of $370.39 million during the quarter, compared to analysts' expectations of $365.71 million. During the same quarter in the previous year, the company earned $0.54 EPS. The business's quarterly revenue was up 3.7% compared to the same quarter last year. Yelp has set its FY 2025 guidance at EPS. On average, research analysts expect that Yelp Inc. will post 2.22 EPS for the current fiscal year.

Insider Activity at Yelp

In other Yelp news, CFO David A. Schwarzbach sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $31.43, for a total value of $314,300.00. Following the completion of the transaction, the chief financial officer owned 180,196 shares of the company's stock, valued at $5,663,560.28. The trade was a 5.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dan Jedda sold 2,794 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was 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 approximately $662,363.52. The trade was a 13.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,755 shares of company stock worth $1,285,051 in the last 90 days. 8.00% of the stock is currently owned by corporate insiders.

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.

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