Fmr LLC Grows Holdings in Yelp Inc. (NYSE:YELP)

FMR LLC lifted its holdings in Yelp Inc. (NYSE:YELP - Free Report) by 13.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 654,059 shares of the local business review company's stock after buying an additional 78,585 shares during the period. FMR LLC owned approximately 0.98% of Yelp worth $22,944,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quest Partners LLC raised its stake in Yelp by 132.7% during the second quarter. Quest Partners LLC now owns 27,094 shares of the local business review company's stock worth $1,001,000 after purchasing an additional 15,451 shares during the period. Pacer Advisors Inc. raised its stake in shares of Yelp by 1.8% in the 3rd 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 period. Algert Global LLC raised its stake in shares of Yelp by 7.5% in the 3rd quarter. Algert Global LLC now owns 204,077 shares of the local business review company's stock valued at $7,159,000 after acquiring an additional 14,213 shares during the period. Ceera Investments LLC raised its stake in shares of Yelp by 10.0% in the 3rd quarter. Ceera Investments LLC now owns 191,017 shares of the local business review company's stock valued at $6,701,000 after acquiring an additional 17,420 shares during the period. Finally, Entropy Technologies LP purchased a new stake in shares of Yelp in the 3rd quarter valued at approximately $546,000. 90.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on YELP shares. StockNews.com raised shares of Yelp from a "buy" rating to a "strong-buy" rating in a research note on Monday, November 11th. Evercore ISI raised shares of Yelp to a "hold" rating in a research note on Monday, November 11th. JPMorgan Chase & Co. reduced their price target on shares of Yelp from $38.00 to $35.00 and set a "neutral" rating on the stock in a research note on Monday, August 12th. Robert W. Baird reduced their price target on shares of Yelp from $39.00 to $37.00 and set a "neutral" rating on the stock in a research note on Friday, November 8th. Finally, Bank of America assumed coverage on shares of Yelp in a research note on Monday, September 16th. They issued an "underperform" rating and a $30.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $37.00.

Yelp Price Performance

Shares of YELP stock traded up $0.84 during trading on Tuesday, reaching $40.34. The company's stock had a trading volume of 1,056,993 shares, compared to its average volume of 725,470. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 23.65, a P/E/G ratio of 0.69 and a beta of 1.35. The stock's 50-day moving average price is $35.70 and its 200 day moving average price is $35.49. Yelp Inc. has a 1-year low of $32.56 and a 1-year high of $48.99.

Insiders Place Their Bets

In other news, COO Joseph R. Nachman sold 7,000 shares of the business's stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $34.02, for a total transaction of $238,140.00. Following the completion of the sale, the chief operating officer now owns 255,558 shares in the company, valued at approximately $8,694,083.16. The trade was a 2.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Craig Saldanha sold 1,000 shares of the business's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $38.05, for a total transaction of $38,050.00. Following the sale, the insider now owns 184,558 shares of the company's stock, valued at $7,022,431.90. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,865 shares of company stock worth $1,537,218 in the last 90 days. Corporate insiders own 7.40% of the company's stock.

Yelp 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.