Yelp Inc. (NYSE:YELP) COO Joseph R. Nachman Sells 7,000 Shares

Yelp Inc. (NYSE:YELP) COO Joseph R. Nachman sold 7,000 shares of Yelp stock in a transaction on Friday, October 4th. The stock was sold at an average price of $34.02, for a total transaction of $238,140.00. Following the transaction, the chief operating officer now owns 255,558 shares in the company, valued at $8,694,083.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Yelp Stock Performance

Shares of NYSE YELP opened at $34.28 on Wednesday. The company has a market cap of $2.31 billion, a P/E ratio of 21.83, a P/E/G ratio of 0.81 and a beta of 1.33. The firm’s fifty day moving average is $34.19 and its two-hundred day moving average is $36.57. Yelp Inc. has a 52-week low of $32.56 and a 52-week high of $48.99.

Yelp (NYSE:YELP) last announced its quarterly earnings results on Thursday, August 8th. The local business review company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. The company had revenue of $357.00 million for the quarter, compared to the consensus estimate of $352.98 million. Yelp had a net margin of 10.01% and a return on equity of 18.71%. Yelp’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 EPS. As a group, analysts forecast that Yelp Inc. will post 1.65 EPS for the current fiscal year.

Institutional Trading of Yelp

Large investors have recently made changes to their positions in the business. C M Bidwell & Associates Ltd. bought a new stake in shares of Yelp in the 4th quarter worth about $27,000. Fidelis Capital Partners LLC bought a new stake in shares of Yelp in the 1st quarter worth about $25,000. Fifth Third Bancorp increased its holdings in shares of Yelp by 262.8% in the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the local business review company’s stock worth $25,000 after buying an additional 481 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Yelp in the 2nd quarter worth about $25,000. Finally, GAMMA Investing LLC increased its holdings in shares of Yelp by 115.9% in the 3rd quarter. GAMMA Investing LLC now owns 976 shares of the local business review company’s stock worth $34,000 after buying an additional 524 shares during the last quarter. 90.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

YELP has been the topic of a number of analyst reports. Bank of America initiated coverage on shares of Yelp in a research note on Monday, September 16th. They set an “underperform” rating and a $30.00 target price on the stock. StockNews.com cut shares of Yelp from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. lowered their target price on shares of Yelp from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Morgan Stanley lifted their target price on shares of Yelp from $32.00 to $34.00 and gave the company an “underweight” rating in a research note on Tuesday, July 23rd. Finally, Wolfe Research initiated coverage on shares of Yelp in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Yelp presently has an average rating of “Hold” and a consensus target price of $37.20.

About Yelp

Yelp Inc operates a platform that connects consumers with local businesses in the United States and internationally. The company's platform covers various categories, including restaurants, shopping, beauty and fitness, health, and other categories, as well as home, local, auto, professional, pets, events, real estate, and financial services.