Insider Selling: Yelp Inc. (NYSE:YELP) CFO Sells 10,000 Shares of Stock

Yelp Inc. (NYSE:YELP) CFO David A. Schwarzbach sold 10,000 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $38.29, for a total value of $382,900.00. Following the completion of the sale, the chief financial officer now owns 211,988 shares of the company’s stock, valued at approximately $8,117,020.52. This represents a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Yelp Price Performance

Yelp stock opened at $38.55 on Tuesday. Yelp Inc. has a 12 month low of $32.56 and a 12 month high of $48.99. The company has a fifty day moving average price of $35.19 and a two-hundred day moving average price of $35.42. The company has a market cap of $2.54 billion, a PE ratio of 23.08, a P/E/G ratio of 0.68 and a beta of 1.35.

Analysts Set New Price Targets

A number of research firms have recently issued reports on YELP. JPMorgan Chase & Co. lowered their target price on Yelp from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Bank of America assumed coverage on shares of Yelp in a research note on Monday, September 16th. They set an “underperform” rating and a $30.00 price objective on the stock. The Goldman Sachs Group downgraded shares of Yelp from a “buy” rating to a “neutral” rating and decreased their target price for the company from $46.00 to $38.00 in a research note on Monday, October 14th. Robert W. Baird reduced their target price on Yelp from $39.00 to $37.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Finally, StockNews.com upgraded shares of Yelp from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Yelp presently has a consensus rating of “Hold” and an average target price of $37.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of YELP. Quest Partners LLC lifted its holdings in Yelp by 132.7% in the second quarter. Quest Partners LLC now owns 27,094 shares of the local business review company’s stock worth $1,001,000 after acquiring an additional 15,451 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Yelp by 1.8% in the 3rd quarter. Pacer Advisors Inc. now owns 2,743,899 shares of the local business review company’s stock worth $96,256,000 after purchasing an additional 48,363 shares during the last quarter. Algert Global LLC boosted its position in Yelp by 7.5% during the 3rd quarter. Algert Global LLC now owns 204,077 shares of the local business review company’s stock valued at $7,159,000 after purchasing an additional 14,213 shares during the period. FORA Capital LLC bought a new position in Yelp during the 3rd quarter worth $732,000. Finally, Ceera Investments LLC increased its position in Yelp by 10.0% in the third quarter. Ceera Investments LLC now owns 191,017 shares of the local business review company’s stock worth $6,701,000 after buying an additional 17,420 shares during the period. 90.11% of the stock is owned by institutional investors and hedge funds.

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.