Yelp Inc. (NYSE:YELP) Holdings Decreased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its holdings in shares of Yelp Inc. (NYSE:YELPFree Report) by 13.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 10,454 shares of the local business review company’s stock after selling 1,613 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Yelp were worth $435,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Ronald Blue Trust Inc. lifted its holdings in shares of Yelp by 96.6% in the third quarter. Ronald Blue Trust Inc. now owns 755 shares of the local business review company’s stock valued at $31,000 after buying an additional 371 shares during the period. Dark Forest Capital Management LP lifted its holdings in shares of Yelp by 83.6% in the first quarter. Dark Forest Capital Management LP now owns 1,166 shares of the local business review company’s stock valued at $36,000 after buying an additional 531 shares during the period. Belpointe Asset Management LLC lifted its holdings in shares of Yelp by 221.1% in the first quarter. Belpointe Asset Management LLC now owns 1,204 shares of the local business review company’s stock valued at $37,000 after buying an additional 829 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of Yelp by 172.2% in the second quarter. Quadrant Capital Group LLC now owns 1,481 shares of the local business review company’s stock valued at $54,000 after buying an additional 937 shares during the period. Finally, State of Wyoming acquired a new stake in shares of Yelp in the second quarter valued at $64,000. Institutional investors and hedge funds own 90.11% of the company’s stock.

Yelp Trading Up 2.2 %

NYSE:YELP opened at $38.44 on Friday. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 28.47 and a beta of 1.53. Yelp Inc. has a 1-year low of $26.53 and a 1-year high of $48.99. The business’s fifty day moving average price is $43.57 and its 200 day moving average price is $43.46.

Yelp (NYSE:YELPGet Free Report) last posted its quarterly earnings results on Thursday, February 15th. The local business review company reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37. The firm had revenue of $342.38 million for the quarter, compared to analyst estimates of $341.83 million. Yelp had a return on equity of 14.06% and a net margin of 7.42%. Yelp’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 earnings per share. Equities analysts forecast that Yelp Inc. will post 1.57 earnings per share for the current year.

Insider Activity at Yelp

In related news, COO Joseph R. Nachman sold 6,000 shares of the company’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $44.75, for a total transaction of $268,500.00. Following the transaction, the chief operating officer now directly owns 248,976 shares of the company’s stock, valued at $11,141,676. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Yelp news, COO Joseph R. Nachman sold 6,000 shares of the company’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $44.75, for a total value of $268,500.00. Following the transaction, the chief operating officer now directly owns 248,976 shares of the company’s stock, valued at approximately $11,141,676. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO David A. Schwarzbach sold 2,750 shares of the company’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $43.40, for a total value of $119,350.00. Following the completion of the transaction, the chief financial officer now directly owns 194,933 shares in the company, valued at $8,460,092.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,750 shares of company stock valued at $676,270. Company insiders own 7.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on YELP. StockNews.com upgraded Yelp from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 24th. Craig Hallum cut their target price on Yelp from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, December 8th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Yelp presently has an average rating of “Hold” and an average price target of $41.75.

Get Our Latest Analysis on Yelp

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 local business 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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Institutional Ownership by Quarter for Yelp (NYSE:YELP)

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