7,147 Shares in Yelp Inc. (YELP) Acquired by ProShare Advisors LLC
ProShare Advisors LLC purchased a new position in shares of Yelp Inc. (NYSE:YELP) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 7,147 shares of the local business review company’s stock, valued at approximately $215,000.
A number of other large investors have also modified their holdings of the business. Strs Ohio bought a new stake in shares of Yelp in the 2nd quarter valued at about $108,000. FNY Partners Fund LP raised its holdings in shares of Yelp by 18,650.0% in the 1st quarter. FNY Partners Fund LP now owns 3,750 shares of the local business review company’s stock valued at $122,000 after purchasing an additional 3,730 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Yelp by 98.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,091 shares of the local business review company’s stock valued at $123,000 after purchasing an additional 2,033 shares during the period. FNY Managed Accounts LLC bought a new stake in shares of Yelp in the 1st quarter valued at about $163,000. Finally, Teacher Retirement System of Texas raised its holdings in shares of Yelp by 11.8% in the 1st quarter. Teacher Retirement System of Texas now owns 6,167 shares of the local business review company’s stock valued at $202,000 after purchasing an additional 653 shares during the period. 90.85% of the stock is currently owned by hedge funds and other institutional investors.
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In other news, CFO Charles Baker sold 3,921 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $41.45, for a total value of $162,525.45. Following the completion of the sale, the chief financial officer now directly owns 112,941 shares in the company, valued at approximately $4,681,404.45. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Geoffrey L. Donaker sold 42,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $40.00, for a total transaction of $1,680,000.00. Following the completion of the sale, the director now owns 47,590 shares of the company’s stock, valued at $1,903,600. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 232,610 shares of company stock valued at $9,758,430. Company insiders own 10.10% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Barclays PLC reaffirmed an “equal weight” rating and issued a $36.00 target price (up from $28.00) on shares of Yelp in a report on Friday, August 4th. B. Riley reaffirmed a “neutral” rating and issued a $36.00 target price on shares of Yelp in a report on Friday, August 4th. Royal Bank Of Canada upped their target price on shares of Yelp from $27.00 to $36.00 and gave the company a “sector perform” rating in a report on Friday, August 4th. Zacks Investment Research raised shares of Yelp from a “sell” rating to a “hold” rating and set a $48.00 target price on the stock in a report on Tuesday, August 8th. Finally, Jefferies Group LLC upped their target price on shares of Yelp from $37.00 to $43.00 and gave the company a “buy” rating in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, twenty have issued a hold rating and eighteen have issued a buy rating to the stock. Yelp has an average rating of “Hold” and a consensus price target of $40.58.
Yelp Inc. (NYSE YELP) opened at 43.65 on Friday. The stock’s 50 day moving average is $43.67 and its 200 day moving average is $35.57. The company has a market cap of $3.57 billion, a P/E ratio of 276.27 and a beta of 1.34. Yelp Inc. has a 1-year low of $26.93 and a 1-year high of $46.76.
Yelp (NYSE:YELP) last released its quarterly earnings results on Thursday, August 3rd. The local business review company reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.12. Yelp had a net margin of 1.67% and a return on equity of 1.60%. The business had revenue of $209.90 million during the quarter, compared to analysts’ expectations of $204.89 million. During the same quarter in the previous year, the company earned $0.16 EPS. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. Equities analysts anticipate that Yelp Inc. will post $0.07 earnings per share for the current fiscal year.
Yelp announced that its Board of Directors has authorized a share buyback program on Thursday, August 3rd that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the local business review company to purchase up to 7.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
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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