BI Asset Management Fondsmaeglerselskab A S Reduces Stock Holdings in Yelp Inc. (NYSE:YELP)

BI Asset Management Fondsmaeglerselskab A S reduced its position in Yelp Inc. (NYSE:YELP - Free Report) by 83.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,507 shares of the local business review company's stock after selling 76,091 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Yelp were worth $611,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of YELP. Diversified Trust Co grew its position in Yelp by 3.4% in the third quarter. Diversified Trust Co now owns 16,488 shares of the local business review company's stock worth $686,000 after acquiring an additional 538 shares in the last quarter. Graham Capital Management L.P. boosted its stake in shares of Yelp by 120.8% during the 3rd quarter. Graham Capital Management L.P. now owns 43,031 shares of the local business review company's stock worth $1,790,000 after acquiring an additional 23,539 shares in the last quarter. Hudson Bay Capital Management LP acquired a new position in shares of Yelp during the 3rd quarter worth about $6,238,000. First Hawaiian Bank acquired a new stake in Yelp in the 4th quarter valued at about $352,000. Finally, Heron Bay Capital Management boosted its position in shares of Yelp by 2.0% during the 4th quarter. Heron Bay Capital Management now owns 14,506 shares of the local business review company's stock worth $687,000 after purchasing an additional 280 shares during the period. Institutional investors own 90.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on YELP. Robert W. Baird cut their price target on shares of Yelp from $44.00 to $39.00 and set a "neutral" rating on the stock in a research note on Friday, May 10th. Craig Hallum cut their target price on shares of Yelp from $55.00 to $48.00 and set a "buy" rating on the stock in a research note on Friday, May 10th. Finally, Raymond James initiated coverage on shares of Yelp in a report on Wednesday, March 27th. They set a "market perform" rating for the company. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Yelp has an average rating of "Hold" and an average price target of $40.67.

Insiders Place Their Bets

In other news, CTO Sam Eaton sold 26,718 shares of the company's stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $36.62, for a total transaction of $978,413.16. Following the sale, the chief technology officer now owns 167,861 shares of the company's stock, valued at $6,147,069.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CTO Sam Eaton sold 26,718 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $36.62, for a total transaction of $978,413.16. Following the completion of the sale, the chief technology officer now owns 167,861 shares in the company, valued at $6,147,069.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Joseph R. Nachman sold 7,000 shares of Yelp stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $36.24, for a total transaction of $253,680.00. Following the sale, the chief operating officer now owns 288,842 shares of the company's stock, valued at $10,467,634.08. The disclosure for this sale can be found here. In the last three months, insiders sold 56,818 shares of company stock worth $2,109,323. Corporate insiders own 7.40% of the company's stock.

Yelp Stock Up 1.7 %

Shares of YELP traded up $0.59 during mid-day trading on Thursday, hitting $35.77. 607,689 shares of the company's stock traded hands, compared to its average volume of 726,213. Yelp Inc. has a 1 year low of $34.76 and a 1 year high of $48.99. The firm has a market capitalization of $2.41 billion, a P/E ratio of 22.78 and a beta of 1.33. The business's 50-day moving average price is $36.91 and its 200-day moving average price is $39.90.

Yelp (NYSE:YELP - Get Free Report) last released its quarterly earnings data on Thursday, May 9th. The local business review company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.04 by $0.16. The company had revenue of $332.75 million for the quarter, compared to the consensus estimate of $333.66 million. Yelp had a return on equity of 15.69% and a net margin of 8.44%. Sell-side analysts anticipate that Yelp Inc. will post 1.39 earnings per share for the current fiscal year.

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.