Yelp Inc. (NYSE:YELP) Insider Craig Saldanha Sells 1,000 Shares

Yelp Inc. (NYSE:YELP) insider Craig Saldanha sold 1,000 shares of the stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $34.34, for a total value of $34,340.00. Following the sale, the insider now directly owns 213,720 shares in the company, valued at approximately $7,339,144.80. This trade represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Craig Saldanha also recently made the following trade(s):

• On Friday, May 23rd, Craig Saldanha sold 1,000 shares of Yelp stock. The stock was sold at an average price of $37.53, for a total value of $37,530.00.
• On Wednesday, April 23rd, Craig Saldanha sold 1,000 shares of Yelp stock. The shares were sold at an average price of $34.45, for a total value of $34,450.00.

Yelp Trading Down 0.9%

Shares of YELP stock opened at $34.16 on Tuesday. The business’s 50-day moving average price is $36.42 and its 200-day moving average price is $37.21. Yelp Inc. has a 12 month low of $32.29 and a 12 month high of $41.72. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 0.81 and a beta of 1.02.

Yelp (NYSE:YELP) last announced its quarterly earnings results on Thursday, May 8th. The local business review company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. Yelp had a return on equity of 19.42% and a net margin of 9.95%. The firm had revenue of $358.53 million for the quarter, compared to analyst estimates of $353.48 million. During the same period last year, the firm posted $0.20 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, sell-side analysts predict that Yelp Inc. will post 2.22 earnings per share for the current fiscal year.

Institutional Trading of Yelp

Hedge funds have recently made changes to their positions in the company. Allworth Financial LP boosted its stake 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 valued at $25,000 after purchasing an additional 288 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Yelp by 307.4% during the first quarter. Farther Finance Advisors LLC now owns 1,096 shares of the local business review company’s stock valued at $42,000 after purchasing an additional 827 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Yelp during the first quarter valued at about $52,000. Strs Ohio acquired a new stake in shares of Yelp during the first quarter valued at about $56,000. Finally, McIlrath & Eck LLC acquired a new stake in shares of Yelp during the fourth quarter valued at about $63,000. 90.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

YELP has been the topic of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on Yelp from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. Wall Street Zen lowered Yelp from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Morgan Stanley reduced their price objective on Yelp from $35.00 to $30.00 and set an “underweight” rating on the stock in a research note on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $34.00.

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.