California Public Employees Retirement System lowered its stake in shares of Yelp Inc. (NYSE:YELP) by 2.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 129,800 shares of the local business review company’s stock after selling 3,900 shares during the period. California Public Employees Retirement System owned approximately 0.17% of Yelp worth $3,941,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the stock. Emerald Acquisition Ltd. bought a new position in shares of Yelp during the second quarter valued at approximately $112,000. IBM Retirement Fund bought a new position in shares of Yelp during the second quarter valued at approximately $209,000. Concourse Capital Management LLC bought a new position in shares of Yelp during the second quarter valued at approximately $278,000. Bank of Montreal Can bought a new position in shares of Yelp during the second quarter valued at approximately $283,000. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Yelp during the first quarter valued at approximately $364,000. 74.90% of the stock is owned by institutional investors and hedge funds.

Yelp Inc. (NYSE:YELP) traded down 0.16% on Thursday, reaching $38.46. 1,074,507 shares of the company’s stock traded hands. Yelp Inc. has a 52 week low of $14.53 and a 52 week high of $39.96. The firm has a 50-day moving average price of $37.05 and a 200-day moving average price of $27.94. The stock’s market capitalization is $2.97 billion.

Yelp (NYSE:YELP) last announced its earnings results on Tuesday, August 9th. The local business review company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.08. Yelp had a negative return on equity of 6.14% and a negative net margin of 7.20%. The firm had revenue of $173.40 million for the quarter, compared to analyst estimates of $169.82 million. During the same quarter last year, the firm posted $0.12 EPS. The business’s revenue was up 29.5% on a year-over-year basis. On average, analysts predict that Yelp Inc. will post ($0.19) earnings per share for the current year.

YELP has been the subject of several research reports. Vetr lowered shares of Yelp from a “strong-buy” rating to a “buy” rating and set a $33.32 price objective for the company. in a report on Monday, July 4th. MKM Partners upgraded shares of Yelp from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Thursday, June 30th. Jefferies Group reiterated a “buy” rating and issued a $28.00 price target on shares of Yelp in a research note on Monday, June 27th. Needham & Company LLC reiterated a “buy” rating and issued a $34.00 price target (up from $28.00) on shares of Yelp in a research note on Thursday, June 23rd. Finally, Deutsche Bank AG upgraded shares of Yelp from a “hold” rating to a “buy” rating and increased their price target for the stock from $26.00 to $33.00 in a research note on Monday, June 20th. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $34.98.

In related news, SVP Michael Stoppelman sold 2,781 shares of the stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $37.45, for a total value of $104,148.45. Following the completion of the transaction, the senior vice president now directly owns 131,948 shares of the company’s stock, valued at approximately $4,941,452.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Geoffrey L. Donaker sold 6,000 shares of the stock in a transaction on Wednesday, June 29th. The shares were sold at an average price of $28.32, for a total value of $169,920.00. Following the completion of the transaction, the chief operating officer now directly owns 6,000 shares of the company’s stock, valued at $169,920. The disclosure for this sale can be found here. Insiders own 11.08% of the company’s stock.

Yelp Company Profile

Yelp Inc (Yelp) connects people with local businesses by bringing word of mouth online and providing a platform for businesses and consumers to engage and transact. The Company provides local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences, through reviews, tips, photos and videos, and engages directly with businesses, through reviews, phone calls and its Message the Business feature.

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