Yelp Inc. (YELP) COO Sells $248,820.00 in Stock
Yelp Inc. (NYSE:YELP) COO Joseph R. Nachman sold 6,500 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $38.28, for a total value of $248,820.00. Following the completion of the sale, the chief operating officer now directly owns 131,115 shares of the company’s stock, valued at approximately $5,019,082.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Yelp Inc. (YELP) traded down 0.10% during trading on Tuesday, reaching $41.69. The company had a trading volume of 3,758,766 shares. The stock has a 50 day moving average of $31.40 and a 200-day moving average of $33.39. The company has a market capitalization of $3.36 billion, a P/E ratio of 563.38 and a beta of 1.48. Yelp Inc. has a 12 month low of $26.93 and a 12 month high of $43.41.
Yelp (NYSE:YELP) last released its quarterly earnings results on Thursday, August 3rd. The local business review company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.12. The company had revenue of $209.90 million during the quarter, compared to the consensus estimate of $204.89 million. Yelp had a return on equity of 1.64% and a net margin of 1.67%. The firm’s revenue was up 21.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.16 EPS. Equities research analysts expect that Yelp Inc. will post $0.06 EPS for the current fiscal year.
Yelp announced that its board has initiated a stock repurchase program on Thursday, August 3rd that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the local business review company to buy up to 7.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.
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A number of brokerages have recently weighed in on YELP. Zacks Investment Research upgraded Yelp from a “sell” rating to a “hold” rating in a research report on Tuesday. Stifel Nicolaus set a $35.00 price target on Yelp and gave the company a “hold” rating in a research report on Friday. Piper Jaffray Companies restated a “hold” rating and issued a $37.00 price target on shares of Yelp in a research report on Friday. Vetr cut Yelp from a “buy” rating to a “hold” rating and set a $36.94 price target for the company. in a research report on Thursday, April 27th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $46.00 price target on shares of Yelp in a research report on Friday, May 5th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eighteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $37.25.
Several hedge funds have recently added to or reduced their stakes in YELP. Vanguard Group Inc. increased its stake in Yelp by 11.2% in the first quarter. Vanguard Group Inc. now owns 5,703,608 shares of the local business review company’s stock valued at $186,793,000 after buying an additional 574,004 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its stake in Yelp by 38.7% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 3,116,090 shares of the local business review company’s stock valued at $93,545,000 after buying an additional 868,890 shares during the period. BlackRock Inc. increased its stake in Yelp by 3,803.3% in the first quarter. BlackRock Inc. now owns 2,829,444 shares of the local business review company’s stock valued at $92,666,000 after buying an additional 2,756,955 shares during the period. Point72 Asset Management L.P. increased its stake in Yelp by 1,088.8% in the first quarter. Point72 Asset Management L.P. now owns 2,661,644 shares of the local business review company’s stock valued at $87,169,000 after buying an additional 2,437,744 shares during the period. Finally, Fisher Asset Management LLC increased its stake in Yelp by 658.2% in the second quarter. Fisher Asset Management LLC now owns 2,459,293 shares of the local business review company’s stock valued at $73,828,000 after buying an additional 2,134,942 shares during the period. Institutional investors own 94.79% of the company’s stock.
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 offers local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences with other consumers by posting reviews, tips, photos and videos, and to engage directly with businesses, through reviews, its Request-A-Quote and Message the Business features, and by completing transactions on the Yelp Platform.
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