Geode Capital Management LLC increased its stake in shares of Yelp Inc. (NYSE:YELP – Free Report) by 3.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,759,229 shares of the local business review company’s stock after buying an additional 64,381 shares during the quarter. Geode Capital Management LLC owned about 2.63% of Yelp worth $61,724,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC raised its holdings in shares of Yelp by 54.5% during the 3rd 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 during the period. Fifth Third Bancorp raised its stake in 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 purchasing an additional 481 shares during the period. GAMMA Investing LLC boosted its holdings in Yelp by 115.9% in the 3rd quarter. GAMMA Investing LLC now owns 976 shares of the local business review company’s stock valued at $34,000 after purchasing an additional 524 shares during the last quarter. Signaturefd LLC grew its stake in shares of Yelp by 98.5% in the 3rd quarter. Signaturefd LLC now owns 1,175 shares of the local business review company’s stock valued at $41,000 after buying an additional 583 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Yelp during the 2nd quarter valued at approximately $25,000. Institutional investors and hedge funds own 90.11% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on YELP shares. Evercore ISI upgraded Yelp to a “hold” rating in a research report on Monday, November 11th. Robert W. Baird cut their price objective on Yelp from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. The Goldman Sachs Group lowered shares of Yelp from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $46.00 to $38.00 in a report on Monday, October 14th. StockNews.com upgraded shares of 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 shares of Yelp in a 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 issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Yelp currently has a consensus rating of “Hold” and an average price target of $37.00.
Insider Activity
In related news, insider Craig Saldanha sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $38.05, for a total value of $38,050.00. Following the sale, the insider now owns 184,558 shares of the company’s stock, valued at $7,022,431.90. This trade represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Carmen Amara sold 12,854 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $38.17, for a total transaction of $490,637.18. Following the transaction, the insider now owns 88,813 shares of the company’s stock, valued at $3,389,992.21. This trade represents a 12.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,865 shares of company stock worth $1,934,418. Corporate insiders own 7.40% of the company’s stock.
Yelp Stock Down 0.6 %
Yelp stock opened at $38.08 on Friday. Yelp Inc. has a 52-week low of $32.56 and a 52-week high of $48.99. The firm has a market cap of $2.51 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 0.71 and a beta of 1.35. The company’s 50 day moving average is $36.63 and its two-hundred day moving average is $35.68.
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.
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