Principal Financial Group Inc. Lowers Stake in Yelp Inc. (NYSE:YELP)

Principal Financial Group Inc. lowered its stake in shares of Yelp Inc. (NYSE:YELP) by 1.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,851 shares of the local business review company’s stock after selling 201 shares during the period. Principal Financial Group Inc.’s holdings in Yelp were worth $454,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Millie Capital Management LLC raised its stake in shares of Yelp by 1.2% in the first quarter. Millie Capital Management LLC now owns 64,378 shares of the local business review company’s stock valued at $2,108,000 after buying an additional 775 shares during the period. Neuburgh Advisers LLC bought a new stake in shares of Yelp during the first quarter valued at about $133,000. Raymond James Financial Services Advisors Inc. raised its stake in shares of Yelp by 74.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,720 shares of the local business review company’s stock valued at $351,000 after buying an additional 4,571 shares during the period. Independent Portfolio Consultants Inc. bought a new stake in shares of Yelp during the first quarter valued at about $159,000. Finally, Tyers Asset Management LLC bought a new stake in shares of Yelp during the first quarter valued at about $169,000. Institutional investors own 94.79% of the company’s stock.

Shares of Yelp Inc. (YELP) traded down 0.34% during midday trading on Wednesday, reaching $41.55. 2,835,055 shares of the company were exchanged. The company has a market capitalization of $3.35 billion, a PE ratio of 561.49 and a beta of 1.48. Yelp Inc. has a 52-week low of $26.93 and a 52-week high of $43.41. The firm’s 50 day moving average is $31.40 and its 200-day moving average is $33.39.

Yelp (NYSE:YELP) last issued its quarterly earnings results on Thursday, August 3rd. The local business review company reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.12. The firm had revenue of $209.90 million for the quarter, compared to analysts’ expectations of $204.89 million. Yelp had a return on equity of 1.64% and a net margin of 1.67%. Yelp’s revenue was up 21.0% on a year-over-year basis. During the same quarter last year, the business posted $0.16 EPS. On average, equities analysts forecast that Yelp Inc. will post $0.06 earnings per share for the current fiscal year.

Yelp announced that its board has authorized a stock buyback program on Thursday, August 3rd that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the local business review company to purchase up to 7.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

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Several analysts have recently issued reports on YELP shares. Pacific Crest upgraded shares of Yelp from a “sector weight” rating to an “overweight” rating and lifted their target price for the company from $33.41 to $43.00 in a research report on Tuesday, April 11th. Wells Fargo & Company raised shares of Yelp from an “underperform” rating to a “market perform” rating and set a $27.00 price target on the stock in a research note on Friday, May 5th. Vetr downgraded shares of Yelp from a “strong-buy” rating to a “buy” rating and set a $36.94 price target on the stock. in a research note on Thursday, April 20th. Jefferies Group LLC reissued a “buy” rating and issued a $37.00 price target on shares of Yelp in a research note on Friday, June 23rd. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $26.00 price target (down from $28.00) on shares of Yelp in a research note on Thursday, July 20th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eighteen have issued a buy rating to the company. Yelp presently has an average rating of “Hold” and a consensus price target of $37.55.

In other Yelp news, SVP Laurence Wilson sold 3,128 shares of Yelp stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $28.23, for a total transaction of $88,303.44. Following the transaction, the senior vice president now owns 181,947 shares of the company’s stock, valued at approximately $5,136,363.81. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Geoffrey L. Donaker sold 4,000 shares of Yelp stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $28.90, for a total value of $115,600.00. Following the transaction, the director now directly owns 9,590 shares in the company, valued at approximately $277,151. The disclosure for this sale can be found here. Insiders sold a total of 109,751 shares of company stock worth $3,841,130 in the last three months. 10.10% of the stock is currently owned by company insiders.

Yelp Company Profile

Yelp Inc (Yelp) connects people with local businesses by bringing ‘word of mouth’ online and providing a platform for businesses and consumers to engage and transact. The Company offers local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences with other consumers by posting reviews, tips, photos and videos, and to engage directly with businesses, through reviews, its Request-A-Quote and Message the Business features, and by completing transactions on the Yelp Platform.

Institutional Ownership by Quarter for Yelp (NYSE:YELP)

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