Teacher Retirement System of Texas Decreases Stock Position in Yelp Inc. (NYSE:YELP)

Teacher Retirement System of Texas reduced its stake in Yelp Inc. (NYSE:YELP - Free Report) by 9.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 197,318 shares of the local business review company's stock after selling 21,036 shares during the quarter. Teacher Retirement System of Texas owned 0.30% of Yelp worth $7,636,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of YELP. Allworth Financial LP grew its position in Yelp by 82.5% in the 4th quarter. Allworth Financial LP now owns 637 shares of the local business review company's stock valued at $25,000 after buying an additional 288 shares during the last quarter. Avion Wealth boosted its holdings in shares of Yelp by 1,963.6% in the fourth quarter. Avion Wealth now owns 908 shares of the local business review company's stock valued at $35,000 after acquiring an additional 864 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Yelp by 76.5% during the fourth quarter. Fifth Third Bancorp now owns 1,094 shares of the local business review company's stock worth $42,000 after acquiring an additional 474 shares during the period. GAMMA Investing LLC increased its stake in shares of Yelp by 75.9% during the fourth quarter. GAMMA Investing LLC now owns 1,717 shares of the local business review company's stock worth $66,000 after acquiring an additional 741 shares during the period. Finally, Asset Management One Co. Ltd. lifted its position in Yelp by 16.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,815 shares of the local business review company's stock valued at $70,000 after purchasing an additional 263 shares during the period. Hedge funds and other institutional investors own 90.11% of the company's stock.

Remove Ads

Yelp Stock Up 2.2 %

Shares of YELP traded up $0.83 on Wednesday, reaching $38.41. The stock had a trading volume of 965,797 shares, compared to its average volume of 688,094. The firm has a 50-day moving average of $37.38 and a 200 day moving average of $36.76. The firm has a market capitalization of $2.50 billion, a PE ratio of 20.00, a PEG ratio of 0.76 and a beta of 1.40. Yelp Inc. has a twelve month low of $32.56 and a twelve month high of $41.72.

Yelp (NYSE:YELP - Get Free Report) last posted its earnings results on Thursday, February 13th. The local business review company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.09. The company had revenue of $361.95 million for the quarter, compared to analyst estimates of $350.73 million. Yelp had a return on equity of 18.07% and a net margin of 9.41%. On average, sell-side analysts anticipate that Yelp Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Yelp

In other news, CTO Sam Eaton sold 21,989 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $35.70, for a total value of $785,007.30. Following the completion of the sale, the chief technology officer now owns 153,159 shares of the company's stock, valued at $5,467,776.30. This represents a 12.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David A. Schwarzbach sold 10,000 shares of the firm's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $39.51, for a total transaction of $395,100.00. Following the completion of the transaction, the chief financial officer now directly owns 191,988 shares in the company, valued at approximately $7,585,445.88. This represents a 4.95 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 57,727 shares of company stock worth $2,081,667. 7.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley increased their target price on Yelp from $34.00 to $35.00 and gave the stock an "underweight" rating in a research note on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $37.17.

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.