Bank of New York Mellon Corp Sells 9,857 Shares of Yelp Inc. (NYSE:YELP)

Bank of New York Mellon Corp trimmed its holdings in Yelp Inc. (NYSE:YELP - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 491,944 shares of the local business review company's stock after selling 9,857 shares during the period. Bank of New York Mellon Corp owned 0.75% of Yelp worth $19,038,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in YELP. Pacer Advisors Inc. increased its stake in Yelp by 1.8% in the third quarter. Pacer Advisors Inc. now owns 2,743,899 shares of the local business review company's stock valued at $96,256,000 after acquiring an additional 48,363 shares during the last quarter. State Street Corp grew its stake in shares of Yelp by 0.9% during the third quarter. State Street Corp now owns 2,553,227 shares of the local business review company's stock worth $89,567,000 after buying an additional 23,719 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Yelp by 3.8% during the third quarter. Geode Capital Management LLC now owns 1,759,229 shares of the local business review company's stock worth $61,724,000 after buying an additional 64,381 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Yelp by 5.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,174,607 shares of the local business review company's stock worth $41,205,000 after buying an additional 56,618 shares during the last quarter. Finally, FMR LLC grew its stake in shares of Yelp by 13.7% during the third quarter. FMR LLC now owns 654,059 shares of the local business review company's stock worth $22,944,000 after buying an additional 78,585 shares during the last quarter. 90.11% of the stock is currently owned by institutional investors and hedge funds.

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Insider Transactions at Yelp

In other Yelp news, CFO David A. Schwarzbach sold 10,000 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $39.72, for a total value of $397,200.00. Following the completion of the sale, the chief financial officer now directly owns 201,988 shares of the company's stock, valued at approximately $8,022,963.36. This represents a 4.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Carmen Amara sold 11,238 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $35.00, for a total transaction of $393,330.00. Following the completion of the sale, the insider now directly owns 108,123 shares of the company's stock, valued at $3,784,305. The trade was a 9.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,727 shares of company stock valued at $2,480,517 over the last three months. Corporate insiders own 7.40% of the company's stock.

Yelp Stock Performance

Shares of NYSE YELP traded up $1.04 during trading on Friday, hitting $35.04. 821,645 shares of the company traded hands, compared to its average volume of 686,788. The business's fifty day moving average is $37.95 and its 200 day moving average is $36.64. Yelp Inc. has a fifty-two week low of $32.56 and a fifty-two week high of $41.72. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 18.25, a P/E/G ratio of 0.76 and a beta of 1.40.

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 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 firm had revenue of $361.95 million for the quarter, compared to analyst estimates of $350.73 million. On average, analysts predict that Yelp Inc. will post 2.22 EPS for the current year.

Analysts Set New Price Targets

Separately, Morgan Stanley lifted their price target on shares of Yelp from $34.00 to $35.00 and gave the stock an "underweight" rating in a report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Yelp currently has an average rating of "Hold" and an average target price of $37.17.

Yelp Company Profile

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.