Yelp Inc. (NYSE:YELP) Position Decreased by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its holdings in Yelp Inc. (NYSE:YELP) by 6.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 355,302 shares of the local business review company’s stock after selling 24,957 shares during the period. Principal Financial Group Inc. owned about 0.53% of Yelp worth $12,464,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. CWM LLC grew its position in Yelp by 24.7% in the second quarter. CWM LLC now owns 1,903 shares of the local business review company’s stock worth $70,000 after buying an additional 377 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Yelp by 54.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the local business review company’s stock worth $40,000 after acquiring an additional 405 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Yelp by 262.8% during the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the local business review company’s stock worth $25,000 after acquiring an additional 481 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Yelp by 115.9% during the third quarter. GAMMA Investing LLC now owns 976 shares of the local business review company’s stock worth $34,000 after purchasing an additional 524 shares during the period. Finally, Signaturefd LLC raised its position 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 purchasing an additional 583 shares during the period. 90.11% of the stock is currently owned by institutional investors.

Yelp Stock Down 1.3 %

YELP stock opened at $35.95 on Friday. The company has a 50 day moving average of $34.58 and a two-hundred day moving average of $35.61. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 0.67 and a beta of 1.33. Yelp Inc. has a 12-month low of $32.56 and a 12-month high of $48.99.

Analyst Ratings Changes

YELP has been the subject of a number of recent analyst reports. Morgan Stanley increased their price target on Yelp from $32.00 to $34.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Robert W. Baird cut their price target on shares of Yelp from $39.00 to $37.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. JPMorgan Chase & Co. decreased their price objective on shares of Yelp from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Evercore ISI upgraded shares of Yelp to a “hold” rating in a research report on Monday, November 11th. Finally, The Goldman Sachs Group lowered Yelp from a “buy” rating to a “neutral” rating and reduced their target price for the company from $46.00 to $38.00 in a report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Yelp has a consensus rating of “Hold” and an average price target of $37.00.

Insider Transactions at Yelp

In other Yelp news, CTO Sam Eaton sold 10,776 shares of Yelp stock in a transaction that occurred on 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 directly owns 145,171 shares in the company, valued at $5,080,985. The trade was a 6.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Carmen Amara sold 12,854 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $38.17, for a total transaction of $490,637.18. Following the transaction, the insider now owns 88,813 shares in the company, valued at approximately $3,389,992.21. This trade represents a 12.64 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,630 shares of company stock valued at $1,105,937. 7.40% of the stock is owned by insiders.

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.