TD Asset Management Inc Grows Stock Position in Yelp Inc. (NYSE:YELP)

TD Asset Management Inc grew its position in shares of Yelp Inc. (NYSE:YELP) by 79.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,800 shares of the local business review company’s stock after buying an additional 25,200 shares during the period. TD Asset Management Inc’s holdings in Yelp were worth $2,099,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of Yelp by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,994,129 shares of the local business review company’s stock valued at $94,402,000 after acquiring an additional 13,790 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Yelp by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,019,944 shares of the local business review company’s stock worth $48,284,000 after buying an additional 12,511 shares in the last quarter. Goodnow Investment Group LLC increased its holdings in shares of Yelp by 1.3% in the 4th quarter. Goodnow Investment Group LLC now owns 641,660 shares of the local business review company’s stock worth $30,376,000 after buying an additional 7,940 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Yelp by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 567,567 shares of the local business review company’s stock valued at $20,972,000 after buying an additional 6,682 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Yelp during the 4th quarter worth $20,718,000. Institutional investors own 90.11% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on YELP shares. Morgan Stanley lifted their price target on Yelp from $32.00 to $34.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Wolfe Research initiated coverage on shares of Yelp in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. StockNews.com lowered shares of Yelp from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. reduced their price objective on Yelp from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $39.00.

Insider Activity

In related news, COO Joseph R. Nachman sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $36.24, for a total value of $253,680.00. Following the sale, the chief operating officer now owns 288,842 shares in the company, valued at approximately $10,467,634.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CTO Sam Eaton sold 10,776 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $35.00, for a total value of $377,160.00. Following the completion of the transaction, the chief technology officer now owns 145,171 shares in the company, valued at $5,080,985. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Joseph R. Nachman sold 7,000 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $36.24, for a total value of $253,680.00. Following the sale, the chief operating officer now directly owns 288,842 shares in the company, valued at $10,467,634.08. The disclosure for this sale can be found here. Insiders sold a total of 24,776 shares of company stock worth $863,590 in the last quarter. 7.40% of the stock is owned by company insiders.

Yelp Price Performance

NYSE YELP opened at $34.44 on Friday. Yelp Inc. has a 1 year low of $32.56 and a 1 year high of $48.99. The stock has a market capitalization of $2.30 billion, a PE ratio of 21.94 and a beta of 1.33. The business’s 50-day moving average is $34.97 and its 200 day moving average is $37.04.

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

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.