Yelp Inc. (NYSE:YELP) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its position in Yelp Inc. (NYSE:YELP - Free Report) by 21.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 352,401 shares of the local business review company's stock after selling 98,413 shares during the period. JPMorgan Chase & Co. owned approximately 0.54% of Yelp worth $12,362,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. FMR LLC grew its holdings in 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 acquiring an additional 78,585 shares during the period. Pacer Advisors Inc. grew its holdings in Yelp by 1.8% during the third quarter. Pacer Advisors Inc. now owns 2,743,899 shares of the local business review company's stock worth $96,256,000 after acquiring an additional 48,363 shares during the period. Barclays PLC grew its holdings in Yelp by 347.9% during the third quarter. Barclays PLC now owns 160,363 shares of the local business review company's stock worth $5,627,000 after acquiring an additional 124,561 shares during the period. Algert Global LLC grew its holdings in Yelp by 7.5% during the third quarter. Algert Global LLC now owns 204,077 shares of the local business review company's stock worth $7,159,000 after acquiring an additional 14,213 shares during the period. Finally, FORA Capital LLC acquired a new stake in Yelp in the third quarter valued at approximately $732,000. 90.11% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Yelp news, insider Craig Saldanha sold 1,000 shares of Yelp stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $37.99, for a total value of $37,990.00. Following the completion of the transaction, the insider now directly owns 183,558 shares of the company's stock, valued at $6,973,368.42. The trade was a 0.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Carmen Amara sold 12,854 shares of Yelp stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $38.17, for a total value of $490,637.18. Following the completion of the transaction, the insider now directly owns 88,813 shares of the company's stock, valued at approximately $3,389,992.21. This represents a 12.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,865 shares of company stock valued at $1,734,268 over the last quarter. 7.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on YELP shares. StockNews.com upgraded Yelp from a "buy" rating to a "strong-buy" rating in a research report on Monday, November 11th. The Goldman Sachs Group downgraded Yelp from a "buy" rating to a "neutral" rating and decreased their target price for the company from $46.00 to $38.00 in a research report on Monday, October 14th. Evercore ISI upgraded Yelp to a "hold" rating in a research report on Monday, November 11th. Bank of America started coverage on Yelp in a research report on Monday, September 16th. They issued an "underperform" rating and a $30.00 target price on the stock. Finally, Robert W. Baird decreased their target price on Yelp from $39.00 to $37.00 and set a "neutral" rating on the stock in a research report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $37.00.

Yelp Trading Down 1.4 %

YELP stock traded down $0.53 during midday trading on Friday, hitting $38.49. 478,518 shares of the company's stock were exchanged, compared to its average volume of 512,153. The business has a 50-day simple moving average of $38.08 and a two-hundred day simple moving average of $35.96. The stock has a market capitalization of $2.53 billion, a PE ratio of 23.05, a P/E/G ratio of 0.71 and a beta of 1.34. Yelp Inc. has a 1-year low of $32.56 and a 1-year high of $45.91.

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.