Insider Selling: Yelp Inc. (YELP) Director Sells 6,000 Shares of Stock
Yelp Inc. (NYSE:YELP) Director Geoffrey L. Donaker sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $39.97, for a total transaction of $239,820.00. Following the completion of the sale, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $239,820. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Yelp Inc. (NYSE:YELP) opened at 40.98 on Friday. The firm’s market cap is $3.17 billion. Yelp Inc. has a one year low of $14.53 and a one year high of $41.85. The company has a 50 day moving average of $38.33 and a 200-day moving average of $28.72.
Yelp (NYSE:YELP) last issued its quarterly earnings data on Tuesday, August 9th. The local business review company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.08. The firm had revenue of $173.40 million for the quarter, compared to analysts’ expectations of $169.82 million. Yelp had a negative net margin of 7.20% and a negative return on equity of 6.14%. The firm’s revenue was up 29.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.12 EPS. On average, equities research analysts predict that Yelp Inc. will post ($0.19) earnings per share for the current year.
Several equities research analysts have recently weighed in on YELP shares. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $42.00 price target on shares of Yelp in a research report on Tuesday. Vetr raised shares of Yelp from a “hold” rating to a “buy” rating and set a $40.05 target price for the company in a research report on Monday, September 12th. Needham & Company LLC increased their target price on shares of Yelp from $34.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, August 10th. Jefferies Group reissued a “buy” rating on shares of Yelp in a research report on Monday, July 11th. Finally, Raymond James Financial Inc. raised shares of Yelp from a “market perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research report on Wednesday, August 10th. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and nineteen have issued a buy rating to the stock. Yelp currently has a consensus rating of “Hold” and a consensus price target of $35.61.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Emerald Acquisition Ltd. purchased a new position in Yelp during the second quarter worth about $112,000. Legal & General Group Plc raised its position in Yelp by 62.0% in the second quarter. Legal & General Group Plc now owns 5,742 shares of the local business review company’s stock worth $174,000 after buying an additional 2,197 shares during the period. IBM Retirement Fund purchased a new position in Yelp during the second quarter worth about $209,000. Private Advisor Group LLC purchased a new position in Yelp during the second quarter worth about $231,000. Finally, Concourse Capital Management LLC purchased a new position in Yelp during the second quarter worth about $278,000. Institutional investors own 74.90% of the company’s stock.
Yelp Inc (Yelp) connects people with local businesses by bringing word of mouth online and providing a platform for businesses and consumers to engage and transact. The Company provides local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences, through reviews, tips, photos and videos, and engages directly with businesses, through reviews, phone calls and its Message the Business feature.
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