New York State Teachers Retirement System Trims Stock Position in Yelp Inc. (NYSE:YELP)

New York State Teachers Retirement System trimmed its stake in Yelp Inc. (NYSE:YELP) by 0.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 48,357 shares of the local business review company’s stock after selling 420 shares during the period. New York State Teachers Retirement System’s holdings in Yelp were worth $1,696,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp increased its holdings in shares of Yelp by 262.8% in the second quarter. Fifth Third Bancorp now owns 664 shares of the local business review company’s stock valued at $25,000 after purchasing an additional 481 shares during the period. Meeder Asset Management Inc. acquired a new position in Yelp in the 2nd quarter valued at $25,000. GAMMA Investing LLC raised its position in Yelp by 115.9% during 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. Exchange Traded Concepts LLC boosted its holdings in shares of Yelp by 54.5% in the third quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the local business review company’s stock valued at $40,000 after acquiring an additional 405 shares in the last quarter. Finally, Signaturefd LLC increased its stake in shares of Yelp by 98.5% during the third quarter. Signaturefd LLC now owns 1,175 shares of the local business review company’s stock worth $41,000 after acquiring an additional 583 shares during the period. 90.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Yelp

In other news, CTO Sam Eaton sold 10,776 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $35.00, for a total value of $377,160.00. Following the completion of the sale, the chief technology officer now owns 145,171 shares of the company’s stock, valued at approximately $5,080,985. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Yelp news, COO Joseph R. Nachman sold 7,000 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $34.02, for a total value of $238,140.00. Following the sale, the chief operating officer now directly owns 255,558 shares in the company, valued at approximately $8,694,083.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Sam Eaton sold 10,776 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $35.00, for a total transaction of $377,160.00. Following the transaction, the chief technology officer now owns 145,171 shares of the company’s stock, valued at $5,080,985. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Robert W. Baird dropped their target price on Yelp from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Friday. JPMorgan Chase & Co. decreased their target price on shares of Yelp from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Morgan Stanley increased their price target on shares of Yelp from $32.00 to $34.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd. Wolfe Research began coverage on shares of Yelp in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Finally, StockNews.com cut shares of Yelp from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Yelp has a consensus rating of “Hold” and an average price target of $37.00.

Yelp Price Performance

Yelp stock opened at $35.93 on Friday. Yelp Inc. has a 12 month low of $32.56 and a 12 month high of $48.99. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 21.51, a price-to-earnings-growth ratio of 0.84 and a beta of 1.33. The stock’s 50-day moving average is $34.30 and its 200-day moving average is $35.77.

Yelp (NYSE:YELP) last released its quarterly earnings results on Thursday, August 8th. The local business review company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. Yelp had a return on equity of 18.71% and a net margin of 10.01%. The firm had revenue of $357.00 million during the quarter, compared to analysts’ expectations of $352.98 million. During the same quarter in the prior year, the business earned $0.21 EPS. Yelp’s quarterly revenue was up 5.9% compared to the same quarter last year. Research analysts anticipate that Yelp Inc. will post 1.69 EPS for the current year.

Yelp Profile

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.