Yelp Inc. (NYSE:YELP) CEO Sells $520,000.00 in Stock
Yelp Inc. (NYSE:YELP) CEO Jeremy Stoppelman sold 13,000 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $40.00, for a total value of $520,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Yelp Inc. (NYSE YELP) opened at 41.69 on Wednesday. Yelp Inc. has a 12-month low of $26.93 and a 12-month high of $43.41. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 563.38 and a beta of 1.48. The company’s 50-day moving average price is $31.40 and its 200 day moving average price is $33.39.
Yelp (NYSE:YELP) last issued 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 Zacks’ consensus estimate of ($0.03) by $0.12. The firm had revenue of $209.90 million for the quarter, compared to analyst estimates of $204.89 million. Yelp had a return on equity of 1.64% and a net margin of 1.67%. The business’s revenue was up 21.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 earnings per share. On average, equities analysts predict that Yelp Inc. will post $0.06 earnings per share for the current year.
Yelp announced that its Board of Directors has initiated a share buyback program on Thursday, August 3rd that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the local business review company to purchase up to 7.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.
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A number of equities analysts have weighed in on YELP shares. Maxim Group reissued a “buy” rating and issued a $41.00 target price (down previously from $45.00) on shares of Yelp in a research report on Wednesday, May 10th. Cantor Fitzgerald reissued a “buy” rating and issued a $46.00 target price on shares of Yelp in a research report on Friday, May 5th. Vetr raised Yelp from a “hold” rating to a “buy” rating and set a $36.94 target price for the company in a research report on Wednesday, May 3rd. Goldman Sachs Group, Inc. (The) raised Yelp from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $42.00 to $34.00 in a research report on Wednesday, May 10th. They noted that the move was a valuation call. Finally, Needham & Company LLC reissued a “buy” rating and issued a $30.00 target price (down previously from $45.00) on shares of Yelp in a research report on Wednesday, May 10th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eighteen have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $37.61.
Several hedge funds have recently modified their holdings of YELP. Strs Ohio purchased a new stake in shares of Yelp during the second quarter worth about $108,000. FNY Partners Fund LP raised its stake in shares of Yelp by 18,650.0% in the first quarter. FNY Partners Fund LP now owns 3,750 shares of the local business review company’s stock worth $122,000 after buying an additional 3,730 shares in the last quarter. Neuburgh Advisers LLC purchased a new stake in shares of Yelp during the first quarter worth about $133,000. Russell Investments Group Ltd. raised its stake in shares of Yelp by 98.8% in the second quarter. Russell Investments Group Ltd. now owns 4,091 shares of the local business review company’s stock worth $123,000 after buying an additional 2,033 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. purchased a new stake in shares of Yelp during the first quarter worth about $159,000. 94.79% of the stock is currently owned by hedge funds and other institutional investors.
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 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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