Principal Financial Group Inc. increased its position in shares of Yelp Inc. (NYSE:YELP - Free Report) by 2.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 374,536 shares of the local business review company's stock after buying an additional 8,239 shares during the quarter. Principal Financial Group Inc. owned 0.58% of Yelp worth $13,869,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the stock. State of Wyoming boosted its holdings in shares of Yelp by 3.5% in the 4th quarter. State of Wyoming now owns 9,030 shares of the local business review company's stock worth $349,000 after acquiring an additional 307 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in shares of Yelp by 5.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,767 shares of the local business review company's stock worth $262,000 after acquiring an additional 341 shares in the last quarter. Martingale Asset Management L P boosted its holdings in shares of Yelp by 0.8% in the 4th quarter. Martingale Asset Management L P now owns 60,697 shares of the local business review company's stock worth $2,349,000 after acquiring an additional 457 shares in the last quarter. Hillsdale Investment Management Inc. boosted its holdings in shares of Yelp by 0.5% in the 4th quarter. Hillsdale Investment Management Inc. now owns 124,016 shares of the local business review company's stock worth $4,799,000 after acquiring an additional 600 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of Yelp by 57.7% in the 1st 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 in the last quarter. 90.11% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, insider Craig Saldanha sold 1,000 shares of the business's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $34.34, for a total value of $34,340.00. Following the completion of the transaction, the insider owned 213,720 shares of the company's stock, valued at $7,339,144.80. The trade was a 0.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 completion of the transaction, the chief technology officer directly owned 145,064 shares of the company's stock, valued at $5,538,543.52. This trade represents a 8.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,345 shares of company stock worth $1,804,076 over the last ninety days. Insiders own 7.40% of the company's stock.
Analyst Ratings Changes
Several brokerages have recently commented on YELP. JPMorgan Chase & Co. reduced their target price on Yelp from $36.00 to $35.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley dropped their price objective on shares of Yelp from $35.00 to $30.00 and set an "underweight" rating for the company in a research report on Thursday, April 17th. Finally, Wall Street Zen cut shares of Yelp from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 21st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Yelp currently has a consensus rating of "Hold" and a consensus price target of $34.00.
Get Our Latest Stock Report on Yelp
Yelp Stock Up 0.8%
YELP stock traded up $0.28 during trading on Wednesday, hitting $34.56. The company had a trading volume of 856,125 shares, compared to its average volume of 768,331. The firm has a 50-day moving average price of $36.45 and a 200-day moving average price of $36.70. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 0.81 and a beta of 0.98. Yelp Inc. has a 12 month low of $32.29 and a 12 month high of $41.72.
Yelp (NYSE:YELP - Get Free Report) last issued its earnings results on Thursday, May 8th. The local business review company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.31 by $0.05. The company had revenue of $358.53 million during the quarter, compared to analysts' expectations of $353.48 million. Yelp had a net margin of 9.95% and a return on equity of 19.42%. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS. Equities analysts expect that Yelp Inc. will post 2.22 EPS for the current year.
Yelp Profile
(
Free Report)
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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