Yelp Inc. $YELP Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in Yelp Inc. by 3.1%, owning 729,488 shares after selling 23,254 shares during the first quarter.
• Yelp recently reported earnings of $0.67 per share, surpassing estimates by $0.19, with revenue of $370.39 million for the quarter, reflecting a 3.7% increase year-over-year.
• Institutional investors and hedge funds own approximately 90.11% of Yelp's stock, with recent increases in positions from firms like LSV Asset Management and Ameriprise Financial.

Northern Trust Corp reduced its stake in Yelp Inc. (NYSE:YELP - Free Report) by 3.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 729,488 shares of the local business review company's stock after selling 23,254 shares during the period. Northern Trust Corp owned 1.12% of Yelp worth $27,013,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. LSV Asset Management raised its holdings in Yelp by 122.8% in the first quarter. LSV Asset Management now owns 1,902,318 shares of the local business review company's stock worth $70,443,000 after buying an additional 1,048,451 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Yelp by 375.2% in the 4th quarter. Ameriprise Financial Inc. now owns 1,331,835 shares of the local business review company's stock valued at $51,542,000 after acquiring an additional 1,051,588 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in Yelp by 1.5% in the 4th quarter. Nuveen Asset Management LLC now owns 650,433 shares of the local business review company's stock valued at $25,172,000 after acquiring an additional 9,810 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Yelp by 2.6% in the 1st quarter. Allianz Asset Management GmbH now owns 555,797 shares of the local business review company's stock worth $20,581,000 after buying an additional 13,943 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Yelp by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 374,536 shares of the local business review company's stock worth $13,869,000 after purchasing an additional 8,239 shares during the period. Institutional investors own 90.11% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Yelp from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Bank of America decreased their target price on shares of Yelp from $31.00 to $30.00 and set an "underperform" rating for the company in a research report on Friday, August 8th. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $34.00.

Yelp Trading Up 0.7%

Shares of Yelp stock traded up $0.21 during trading hours on Thursday, reaching $31.73. The stock had a trading volume of 256,270 shares, compared to its average volume of 817,112. Yelp Inc. has a twelve month low of $29.96 and a twelve month high of $41.72. The stock's 50 day moving average is $33.36 and its 200 day moving average is $35.05. The firm has a market capitalization of $2.00 billion, a PE ratio of 14.36, a PEG ratio of 0.80 and a beta of 1.03.

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

Insider Activity

In related 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 value of $99,689.92. Following the transaction, the director directly owned 18,564 shares of the company's stock, valued at $662,363.52. This trade represents a 13.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Craig Saldanha sold 1,000 shares of the stock in a transaction on Monday, August 25th. The shares were sold at an average price of $32.33, for a total transaction of $32,330.00. Following the completion of the transaction, the insider directly owned 204,900 shares in the company, valued at $6,624,417. This trade represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,294 shares of company stock valued at $1,267,985 over the last three months. 7.40% of the stock is currently 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.