Crosslink Capital Inc. Has $14,417,000 Stake in Yelp Inc. (YELP)

Crosslink Capital Inc. continued to hold its position in shares of Yelp Inc. (NYSE:YELP) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 440,210 shares of the local business review company’s stock at the end of the second quarter. Yelp makes up 2.3% of Crosslink Capital Inc.’s portfolio, making the stock its 18th biggest position. Crosslink Capital Inc. owned approximately 0.54% of Yelp worth $14,417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Yelp by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 5,935,362 shares of the local business review company’s stock valued at $178,180,000 after buying an additional 231,754 shares during the period. BlackRock Inc. lifted its holdings in shares of Yelp by 84.9% during the 2nd quarter. BlackRock Inc. now owns 5,232,684 shares of the local business review company’s stock valued at $157,084,000 after buying an additional 2,403,240 shares during the period. Prescott General Partners LLC lifted its holdings in shares of Yelp by 21.3% during the 2nd quarter. Prescott General Partners LLC now owns 3,851,774 shares of the local business review company’s stock valued at $115,630,000 after buying an additional 676,251 shares during the period. Sumitomo Mitsui Asset Management Company LTD lifted its holdings in shares of Yelp by 38.7% during the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 3,116,090 shares of the local business review company’s stock valued at $93,545,000 after buying an additional 868,890 shares during the period. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Yelp by 1,088.8% during the 1st quarter. Point72 Asset Management L.P. now owns 2,661,644 shares of the local business review company’s stock valued at $87,169,000 after buying an additional 2,437,744 shares during the period. 90.85% of the stock is currently owned by hedge funds and other institutional investors.

YELP has been the topic of several research analyst reports. Roth Capital raised Yelp from a “sell” rating to a “neutral” rating and increased their price target for the company from $21.00 to $35.00 in a report on Friday, August 4th. Credit Suisse Group set a $40.00 price target on Yelp and gave the company a “buy” rating in a report on Friday, August 4th. BidaskClub cut Yelp from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. Robert W. Baird reaffirmed a “neutral” rating and issued a $37.00 target price (up from $26.00) on shares of Yelp in a report on Thursday, August 10th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $54.00 target price on shares of Yelp in a report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and nineteen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $40.58.

In related news, CFO Charles Baker sold 3,921 shares of Yelp stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $41.45, for a total transaction of $162,525.45. Following the sale, the chief financial officer now directly owns 112,941 shares in the company, valued at approximately $4,681,404.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Geoffrey L. Donaker sold 42,000 shares of Yelp stock in a transaction on Friday, August 4th. The stock was sold at an average price of $40.00, for a total transaction of $1,680,000.00. Following the sale, the director now owns 47,590 shares in the company, valued at $1,903,600. The disclosure for this sale can be found here. Insiders sold a total of 226,610 shares of company stock worth $9,485,130 over the last 90 days. Company insiders own 10.10% of the company’s stock.

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Shares of Yelp Inc. (NYSE:YELP) traded down 0.55% during trading on Thursday, reaching $43.74. 519,064 shares of the company were exchanged. Yelp Inc. has a 1-year low of $26.93 and a 1-year high of $46.76. The stock has a market capitalization of $3.58 billion, a P/E ratio of 276.84 and a beta of 1.34. The firm has a 50-day moving average price of $43.53 and a 200-day moving average price of $35.40.

Yelp (NYSE:YELP) last announced its quarterly earnings data on Thursday, August 3rd. The local business review company reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.12. Yelp had a net margin of 1.67% and a return on equity of 1.60%. The business had revenue of $209.90 million for the quarter, compared to analyst estimates of $204.89 million. During the same period last year, the business earned $0.16 EPS. The company’s revenue was up 21.0% on a year-over-year basis. Equities research analysts predict that Yelp Inc. will post $0.07 earnings per share for the current fiscal year.

Yelp declared that its Board of Directors has initiated a stock buyback program on Thursday, August 3rd that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the local business review company to repurchase up to 7.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Yelp 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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