Fmr LLC Has $22.94 Million Stake in Yelp Inc. (NYSE:YELP)

Fmr LLC increased its holdings in shares of Yelp Inc. (NYSE:YELP) by 13.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 654,059 shares of the local business review company’s stock after buying an additional 78,585 shares during the period. Fmr LLC’s holdings in Yelp were worth $22,944,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. CWM LLC boosted its holdings in shares of Yelp by 24.7% in the second quarter. CWM LLC now owns 1,903 shares of the local business review company’s stock valued at $70,000 after buying an additional 377 shares during the period. Blue Trust Inc. raised its position in shares of Yelp by 148.0% in the second quarter. Blue Trust Inc. now owns 2,921 shares of the local business review company’s stock valued at $115,000 after purchasing an additional 1,743 shares during the period. Hennion & Walsh Asset Management Inc. bought a new position in shares of Yelp in the second quarter valued at about $266,000. Summit Global Investments increased its position in Yelp by 26.6% during the second quarter. Summit Global Investments now owns 17,074 shares of the local business review company’s stock worth $631,000 after acquiring an additional 3,583 shares during the period. Finally, Fifth Third Bancorp increased its position in Yelp by 262.8% during the second quarter. Fifth Third Bancorp now owns 664 shares of the local business review company’s stock worth $25,000 after acquiring an additional 481 shares during the period. 90.11% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Yelp news, insider Craig Saldanha sold 1,000 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $38.05, for a total transaction of $38,050.00. Following the completion of the transaction, the insider now owns 184,558 shares of the company’s stock, valued at approximately $7,022,431.90. This trade represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Joseph R. Nachman sold 7,000 shares of Yelp stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $34.02, for a total value of $238,140.00. Following the completion of the transaction, the chief operating officer now directly owns 255,558 shares of the company’s stock, valued at approximately $8,694,083.16. This represents a 2.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,865 shares of company stock valued at $1,537,218. 7.40% of the stock is currently owned by corporate insiders.

Yelp Stock Performance

YELP stock opened at $39.50 on Tuesday. The company has a market capitalization of $2.60 billion, a PE ratio of 23.65, a price-to-earnings-growth ratio of 0.69 and a beta of 1.35. Yelp Inc. has a one year low of $32.56 and a one year high of $48.99. The company’s 50 day moving average price is $35.70 and its two-hundred day moving average price is $35.49.

Wall Street Analysts Forecast Growth

YELP has been the topic of several research reports. Evercore ISI raised shares of Yelp to a “hold” rating in a report on Monday, November 11th. StockNews.com upgraded shares of Yelp from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. lowered their price objective on shares of Yelp from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Bank of America initiated coverage on shares of Yelp in a research note on Monday, September 16th. They issued an “underperform” rating and a $30.00 target price for the company. Finally, The Goldman Sachs Group lowered shares of Yelp from a “buy” rating to a “neutral” rating and reduced their price target for the company from $46.00 to $38.00 in a research report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $37.00.

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.