Jacobs Levy Equity Management Inc. Purchases 56,598 Shares of Yelp Inc. (NYSE:YELP)

Jacobs Levy Equity Management Inc. increased its stake in shares of Yelp Inc. (NYSE:YELP - Free Report) by 11.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 543,698 shares of the local business review company's stock after acquiring an additional 56,598 shares during the period. Jacobs Levy Equity Management Inc. owned 0.81% of Yelp worth $19,073,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Millennium Management LLC boosted its stake in Yelp by 1,089.2% during the 2nd quarter. Millennium Management LLC now owns 188,371 shares of the local business review company's stock valued at $6,960,000 after purchasing an additional 172,531 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in shares of Yelp by 114.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 279,180 shares of the local business review company's stock worth $9,794,000 after acquiring an additional 148,917 shares during the period. Pacer Advisors Inc. lifted its position in shares of Yelp by 4.3% during the 2nd quarter. Pacer Advisors Inc. now owns 2,695,536 shares of the local business review company's stock worth $99,600,000 after buying an additional 111,936 shares during the period. Bridgewater Associates LP lifted its position in shares of Yelp by 136.5% during the 3rd quarter. Bridgewater Associates LP now owns 181,622 shares of the local business review company's stock worth $6,371,000 after buying an additional 104,839 shares during the period. Finally, Edgestream Partners L.P. lifted its position in shares of Yelp by 159.4% during the 2nd quarter. Edgestream Partners L.P. now owns 169,786 shares of the local business review company's stock worth $6,274,000 after buying an additional 104,330 shares during the period. Institutional investors and hedge funds own 90.11% of the company's stock.

Wall Street Analysts Forecast Growth

YELP has been the subject of a number of recent analyst reports. Robert W. Baird dropped their price target on Yelp from $39.00 to $37.00 and set a "neutral" rating for the company in a report on Friday, November 8th. Evercore ISI raised Yelp to a "hold" rating in a report on Monday, November 11th. Bank of America assumed coverage on Yelp in a report on Monday, September 16th. They set an "underperform" rating and a $30.00 price target for the company. StockNews.com raised Yelp from a "buy" rating to a "strong-buy" rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. lowered their target price on Yelp from $38.00 to $35.00 and set a "neutral" rating for the company in a research note on Monday, August 12th. Two analysts have rated the stock with a sell rating, six have issued 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, Yelp currently has a consensus rating of "Hold" and a consensus target price of $37.00.

Insiders Place Their Bets

In other Yelp news, CFO David A. Schwarzbach sold 10,000 shares of Yelp stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $38.29, for a total transaction of $382,900.00. Following the transaction, the chief financial officer now directly owns 211,988 shares in the company, valued at approximately $8,117,020.52. The trade was a 4.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Joseph R. Nachman sold 7,000 shares of the business's stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $34.02, for a total value 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. This trade represents a 2.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,865 shares of company stock worth $1,537,218. Corporate insiders own 7.40% of the company's stock.

Yelp Stock Down 1.5 %

Shares of Yelp stock traded down $0.60 during trading on Thursday, reaching $38.22. 480,156 shares of the company were exchanged, compared to its average volume of 727,219. Yelp Inc. has a twelve month low of $32.56 and a twelve month high of $48.99. The business has a 50-day moving average price of $35.44 and a 200-day moving average price of $35.46. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 23.03, a P/E/G ratio of 0.68 and a beta of 1.35.

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.