18,640 Shares in Yelp Inc. (NYSE:YELP) Purchased by Suncoast Equity Management

Suncoast Equity Management purchased a new stake in shares of Yelp Inc. (NYSE:YELP) in the 4th quarter, Holdings Channel reports. The fund purchased 18,640 shares of the local business review company’s stock, valued at approximately $721,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in YELP. Allworth Financial LP increased its holdings in shares of Yelp by 82.5% during the fourth quarter. Allworth Financial LP now owns 637 shares of the local business review company’s stock worth $25,000 after buying an additional 288 shares in the last quarter. Avion Wealth boosted its holdings in shares of Yelp by 1,963.6% in the 4th quarter. Avion Wealth now owns 908 shares of the local business review company’s stock worth $35,000 after acquiring an additional 864 shares in the last quarter. Exchange Traded Concepts LLC grew its position in 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 during the last quarter. Signaturefd LLC increased its holdings in 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 in the last quarter. Finally, Fifth Third Bancorp raised its position in Yelp by 76.5% in the 4th quarter. Fifth Third Bancorp now owns 1,094 shares of the local business review company’s stock valued at $42,000 after purchasing an additional 474 shares during the last quarter. 90.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Yelp

In related news, CFO David A. Schwarzbach sold 10,000 shares of Yelp stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $38.29, for a total transaction of $382,900.00. Following the transaction, the chief financial officer now owns 211,988 shares of the company’s stock, valued at $8,117,020.52. This trade represents a 4.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Craig Saldanha sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $38.05, for a total transaction of $38,050.00. Following the completion of the sale, the insider now directly owns 184,558 shares of the company’s stock, valued at $7,022,431.90. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,267 shares of company stock worth $1,299,802. Insiders own 7.40% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on YELP shares. Robert W. Baird decreased 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. Evercore ISI upgraded shares of Yelp to a “hold” rating in a research report on Monday, November 11th. StockNews.com upgraded shares of Yelp from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, Morgan Stanley upped their target price on shares of Yelp from $34.00 to $35.00 and gave the stock an “underweight” rating in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $37.17.

Yelp Trading Down 3.7 %

Shares of NYSE:YELP opened at $36.53 on Friday. Yelp Inc. has a 1-year low of $32.56 and a 1-year high of $41.72. The stock has a market capitalization of $2.40 billion, a P/E ratio of 19.02, a P/E/G ratio of 0.79 and a beta of 1.33. The business has a 50-day moving average price of $39.28 and a two-hundred day moving average price of $36.57.

Yelp (NYSE:YELP) last posted its quarterly earnings results on Thursday, February 13th. The local business review company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.09. Yelp had a net margin of 9.41% and a return on equity of 18.07%. The business had revenue of $361.95 million during the quarter, compared to the consensus estimate of $350.73 million. As a group, equities analysts predict that Yelp Inc. will post 2.22 EPS 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.