Alliancebernstein L.P. boosted its holdings in Yelp Inc. (NYSE:YELP - Free Report) by 22.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 257,649 shares of the local business review company's stock after acquiring an additional 47,087 shares during the period. Alliancebernstein L.P. owned 0.39% of Yelp worth $9,971,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Barclays PLC raised its holdings in shares of Yelp by 347.9% in the 3rd quarter. Barclays PLC now owns 160,363 shares of the local business review company's stock valued at $5,627,000 after buying an additional 124,561 shares during the period. Bristlecone Advisors LLC acquired a new stake in shares of Yelp during the 4th quarter worth about $1,197,000. Principal Financial Group Inc. boosted its holdings in shares of Yelp by 3.1% in the 4th quarter. Principal Financial Group Inc. now owns 366,297 shares of the local business review company's stock valued at $14,176,000 after buying an additional 10,995 shares in the last quarter. Suncoast Equity Management purchased a new position in shares of Yelp during the fourth quarter worth about $721,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Yelp by 332.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 15,195 shares of the local business review company's stock worth $588,000 after buying an additional 11,678 shares during the last quarter. 90.11% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Separately, Morgan Stanley upped their target price on shares of Yelp from $34.00 to $35.00 and gave the company an "underweight" rating in a report on Monday, January 13th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $37.17.
View Our Latest Report on YELP
Yelp Stock Performance
NYSE YELP traded up $0.03 during trading hours on Tuesday, reaching $33.87. The company's stock had a trading volume of 214,190 shares, compared to its average volume of 735,935. The company's 50-day moving average is $36.04 and its two-hundred day moving average is $36.93. Yelp Inc. has a fifty-two week low of $32.56 and a fifty-two week high of $41.72. The stock has a market cap of $2.20 billion, a PE ratio of 17.64, a PEG ratio of 0.76 and a beta of 1.08.
Yelp (NYSE:YELP - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The local business review company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $350.73 million. Equities analysts expect that Yelp Inc. will post 2.22 earnings per share for the current fiscal year.
Insider Activity at Yelp
In other news, insider Craig Saldanha sold 1,000 shares of the firm's stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $38.40, for a total transaction of $38,400.00. Following the completion of the sale, the insider now directly owns 182,558 shares in the company, valued at $7,010,227.20. This trade represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Carmen Amara sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $33.16, for a total value of $49,740.00. Following the sale, the insider now owns 107,207 shares of the company's stock, valued at approximately $3,554,984.12. This trade represents a 1.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,727 shares of company stock worth $2,424,767. 7.40% of the stock is owned by insiders.
Yelp Profile
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Free Report)
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.
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