State Street Corp Purchases 23,719 Shares of Yelp Inc. (NYSE:YELP)

State Street Corp raised its position in shares of Yelp Inc. (NYSE:YELP) by 0.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,553,227 shares of the local business review company’s stock after acquiring an additional 23,719 shares during the quarter. State Street Corp’s holdings in Yelp were worth $89,567,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Fifth Third Bancorp lifted its position in shares of Yelp by 262.8% during the second quarter. Fifth Third Bancorp now owns 664 shares of the local business review company’s stock worth $25,000 after acquiring an additional 481 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Yelp during the second quarter worth $25,000. GAMMA Investing LLC lifted its position in shares of Yelp by 115.9% during the third quarter. GAMMA Investing LLC now owns 976 shares of the local business review company’s stock worth $34,000 after acquiring an additional 524 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Yelp by 54.5% during the third quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the local business review company’s stock worth $40,000 after acquiring an additional 405 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of Yelp by 98.5% during the third quarter. Signaturefd LLC now owns 1,175 shares of the local business review company’s stock worth $41,000 after acquiring an additional 583 shares in the last quarter. Hedge funds and other institutional investors own 90.11% of the company’s stock.

Insider Buying and Selling at Yelp

In other news, CTO Sam Eaton sold 10,744 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $35.12, for a total transaction of $377,329.28. Following the transaction, the chief technology officer now directly owns 122,480 shares of the company’s stock, valued at approximately $4,301,497.60. This trade represents a 8.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Carmen Amara sold 12,854 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $38.17, for a total value of $490,637.18. Following the transaction, the insider now directly owns 88,813 shares in the company, valued at $3,389,992.21. This trade represents a 12.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,865 shares of company stock worth $1,537,218 over the last 90 days. Corporate insiders own 7.40% of the company’s stock.

Wall Street Analysts Forecast Growth

YELP has been the topic of several recent research reports. Evercore ISI upgraded Yelp to a “hold” rating in a research report on Monday, November 11th. Robert W. Baird lowered their price objective on Yelp from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. The Goldman Sachs Group downgraded Yelp from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $46.00 to $38.00 in a research report on Monday, October 14th. StockNews.com upgraded Yelp from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, Bank of America assumed coverage on Yelp in a research report on Monday, September 16th. They issued an “underperform” rating and a $30.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $37.00.

Yelp Stock Up 0.3 %

NYSE YELP opened at $39.83 on Tuesday. The stock’s 50-day simple moving average is $36.28 and its two-hundred day simple moving average is $35.62. Yelp Inc. has a twelve month low of $32.56 and a twelve month high of $48.99. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 0.71 and a beta of 1.35.

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.