Yelp Inc (YELP) Shares Sold by Stonerise Capital Management LLC
Stonerise Capital Management LLC trimmed its stake in Yelp Inc (NYSE:YELP) by 22.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 139,700 shares of the local business review company’s stock after selling 40,000 shares during the quarter. Yelp makes up 8.0% of Stonerise Capital Management LLC’s holdings, making the stock its 6th largest holding. Stonerise Capital Management LLC’s holdings in Yelp were worth $5,862,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Oppenheimer Asset Management Inc. grew its holdings in shares of Yelp by 28,585.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 4,016 shares of the local business review company’s stock worth $174,000 after acquiring an additional 4,002 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Yelp by 46.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,240 shares of the local business review company’s stock worth $178,000 after acquiring an additional 1,337 shares during the last quarter. Commerzbank Aktiengesellschaft FI acquired a new position in shares of Yelp in the 3rd quarter worth $204,000. Turner Investments LLC acquired a new position in shares of Yelp in the 3rd quarter worth $217,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Yelp in the 3rd quarter worth $222,000. Institutional investors and hedge funds own 90.37% of the company’s stock.
In other Yelp news, Director Geoffrey L. Donaker sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $45.39, for a total transaction of $272,340.00. Following the transaction, the director now directly owns 9,590 shares in the company, valued at $435,290.10. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jeremy Stoppelman sold 13,000 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $42.32, for a total value of $550,160.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 242,500 shares of company stock worth $10,371,440. Corporate insiders own 10.10% of the company’s stock.
Several brokerages have recently commented on YELP. Zacks Investment Research cut Yelp from a “hold” rating to a “sell” rating in a research report on Saturday, February 10th. KeyCorp set a $54.00 target price on Yelp and gave the stock a “buy” rating in a research report on Thursday, February 8th. Bank of America decreased their target price on Yelp from $55.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. Morgan Stanley decreased their target price on Yelp from $43.00 to $40.00 and set an “equal weight” rating for the company in a research report on Thursday, February 8th. Finally, Credit Suisse Group decreased their target price on Yelp from $51.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eighteen have given a buy rating to the company’s stock. Yelp presently has an average rating of “Hold” and a consensus target price of $43.66.
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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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