FORA Capital LLC Acquires New Position in Yelp Inc. (NYSE:YELP)

FORA Capital LLC bought a new position in shares of Yelp Inc. (NYSE:YELP - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,859 shares of the local business review company's stock, valued at approximately $732,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. DekaBank Deutsche Girozentrale boosted its stake in Yelp by 424.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 17,080 shares of the local business review company's stock valued at $661,000 after acquiring an additional 13,822 shares during the last quarter. CWM LLC raised its stake in Yelp by 24.7% during the second quarter. CWM LLC now owns 1,903 shares of the local business review company's stock valued at $70,000 after buying an additional 377 shares in the last quarter. Blue Trust Inc. raised its stake in Yelp by 148.0% during the second quarter. Blue Trust Inc. now owns 2,921 shares of the local business review company's stock valued at $115,000 after buying an additional 1,743 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in Yelp during the 2nd quarter worth approximately $266,000. Finally, Summit Global Investments grew its position in shares of Yelp by 26.6% in the 2nd quarter. Summit Global Investments now owns 17,074 shares of the local business review company's stock worth $631,000 after acquiring an additional 3,583 shares in the last quarter. 90.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on YELP shares. Robert W. Baird dropped their price target on Yelp from $39.00 to $37.00 and set a "neutral" rating on the stock in a research report on Friday, November 8th. Bank of America initiated coverage on shares of Yelp in a research report on Monday, September 16th. They set an "underperform" rating and a $30.00 price objective for the company. Evercore ISI raised shares of Yelp to a "hold" rating in a report on Monday, November 11th. The Goldman Sachs Group lowered Yelp from a "buy" rating to a "neutral" rating and lowered their target price for the company from $46.00 to $38.00 in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. cut their price target on Yelp from $38.00 to $35.00 and set a "neutral" rating on the stock in a report on Monday, August 12th. Two investment 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 stock. According to MarketBeat.com, Yelp currently has a consensus rating of "Hold" and a consensus target price of $37.00.

Yelp Stock Up 0.4 %

Yelp stock traded up $0.14 during mid-day trading on Friday, hitting $38.22. 372,790 shares of the company's stock traded hands, compared to its average volume of 728,610. The company has a market cap of $2.52 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 0.69 and a beta of 1.33. Yelp Inc. has a one year low of $32.56 and a one year high of $48.99. The firm has a 50 day moving average price of $35.11 and a 200 day moving average price of $35.45.

Insiders Place Their Bets

In other news, insider Carmen Amara sold 12,854 shares of the company's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $38.17, for a total transaction of $490,637.18. Following the completion of the sale, the insider now directly owns 88,813 shares of the company's stock, valued at $3,389,992.21. This represents a 12.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Sam Eaton sold 10,744 shares of the firm's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $35.12, for a total transaction of $377,329.28. Following the completion of the transaction, the chief technology officer now owns 122,480 shares of the company's stock, valued at approximately $4,301,497.60. The trade was a 8.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,598 shares of company stock worth $1,106,106. 7.40% of the stock is owned by corporate insiders.

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.