Daiwa Securities Group Inc. Buys 2,800 Shares of Yelp Inc. (NYSE:YELP)

Daiwa Securities Group Inc. lifted its position in shares of Yelp Inc. (NYSE:YELP) by 62.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 7,300 shares of the local business review company’s stock after buying an additional 2,800 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Yelp were worth $256,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of YELP. CWM LLC raised its stake in shares of 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 period. Exchange Traded Concepts LLC lifted its holdings in Yelp by 54.5% during 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 purchasing an additional 405 shares in the last quarter. Fifth Third Bancorp boosted its position 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 worth $25,000 after purchasing an additional 481 shares during the period. GAMMA Investing LLC increased its stake in shares of Yelp by 115.9% in 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 in the last quarter. Finally, Signaturefd LLC raised its position in shares of Yelp by 98.5% during the 3rd quarter. Signaturefd LLC now owns 1,175 shares of the local business review company’s stock valued at $41,000 after purchasing an additional 583 shares during the period. Hedge funds and other institutional investors own 90.11% of the company’s stock.

Insider Buying and Selling at Yelp

In related news, COO Joseph R. Nachman sold 7,000 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $34.02, for a total transaction of $238,140.00. Following the transaction, the chief operating officer now directly owns 255,558 shares in the company, valued at approximately $8,694,083.16. This represents a 2.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Sam Eaton sold 10,744 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $35.12, for a total transaction of $377,329.28. Following the completion of the sale, the chief technology officer now directly owns 122,480 shares of the company’s stock, valued at approximately $4,301,497.60. The trade was a 8.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,598 shares of company stock worth $1,106,106 over the last ninety days. Company insiders own 7.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Bank of America assumed coverage on 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 raised shares of Yelp from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. decreased their price target 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. Evercore ISI upgraded Yelp to a “hold” rating in a research report on Monday, November 11th. Finally, Robert W. Baird reduced their target price on Yelp from $39.00 to $37.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $37.00.

Yelp Trading Up 0.4 %

Shares of NYSE:YELP opened at $38.22 on Monday. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 0.69 and a beta of 1.33. Yelp Inc. has a 12 month low of $32.56 and a 12 month high of $48.99. The company has a 50-day moving average price of $35.19 and a 200 day moving average price of $35.44.

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.