Invesco Ltd. lifted its position in Yelp Inc. (NYSE:YELP - Free Report) by 13.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 329,889 shares of the local business review company's stock after purchasing an additional 39,736 shares during the quarter. Invesco Ltd. owned 0.50% of Yelp worth $12,767,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership grew its holdings in Yelp by 16.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,845,575 shares of the local business review company's stock valued at $71,424,000 after purchasing an additional 255,775 shares during the period. Geode Capital Management LLC boosted its position in shares of Yelp by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 1,774,878 shares of the local business review company's stock valued at $68,702,000 after acquiring an additional 15,649 shares during the period. JPMorgan Chase & Co. raised its position in shares of Yelp by 70.7% in the 4th quarter. JPMorgan Chase & Co. now owns 601,632 shares of the local business review company's stock valued at $23,283,000 after buying an additional 249,231 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Yelp by 87.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 507,990 shares of the local business review company's stock valued at $19,659,000 after purchasing an additional 236,400 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Yelp by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 366,297 shares of the local business review company's stock worth $14,176,000 after purchasing an additional 10,995 shares during the last quarter. Institutional investors own 90.11% of the company's stock.
Yelp Price Performance
Shares of Yelp stock traded up $0.73 on Thursday, reaching $35.15. The company had a trading volume of 500,485 shares, compared to its average volume of 738,888. Yelp Inc. has a 1 year low of $32.29 and a 1 year high of $41.72. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 18.31, a P/E/G ratio of 0.76 and a beta of 1.08. The firm's 50-day moving average price is $35.20 and its two-hundred day moving average price is $36.85.
Yelp (NYSE:YELP - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The local business review company reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.09. Yelp had a return on equity of 18.07% and a net margin of 9.41%. The business had revenue of $361.95 million for the quarter, compared to the consensus estimate of $350.73 million. As a group, analysts anticipate that Yelp Inc. will post 2.22 EPS for the current year.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on YELP shares. JPMorgan Chase & Co. dropped their price objective on shares of Yelp from $36.00 to $35.00 and set a "neutral" rating on the stock in a report on Tuesday. Morgan Stanley lowered their target price 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 research analysts have rated the stock with a sell rating, five have issued 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 company has a consensus rating of "Hold" and an average target price of $36.33.
Check Out Our Latest Report on YELP
Insider Buying and Selling
In other news, insider Craig Saldanha sold 1,000 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $34.45, for a total value of $34,450.00. Following the sale, the insider now directly owns 222,512 shares in the company, valued at approximately $7,665,538.40. This trade represents a 0.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Carmen Amara sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $33.16, for a total transaction of $49,740.00. Following the transaction, the insider now owns 107,207 shares of the company's stock, valued at $3,554,984.12. This trade represents a 1.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,727 shares of company stock valued at $2,025,717. 7.40% of the stock is owned by company insiders.
About Yelp
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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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