Yelp (YELP) Trading Down 14% on Insider Selling

Yelp Inc (NYSE:YELP) traded down 14% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $38.59 and last traded at $38.63. 11,196,764 shares were traded during mid-day trading, an increase of 545% from the average session volume of 1,735,513 shares. The stock had previously closed at $44.94.

Specifically, Director Geoffrey L. Donaker sold 6,000 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $43.52, for a total value of $261,120.00. Following the completion of the sale, the director now directly owns 9,590 shares in the company, valued at $417,356.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeremy Stoppelman sold 13,000 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $45.40, for a total transaction of $590,200.00. The disclosure for this sale can be found here. Insiders sold 244,085 shares of company stock valued at $10,761,928 over the last quarter. Company insiders own 10.10% of the company’s stock.

A number of equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Yelp from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Tuesday, November 21st. Roth Capital increased their target price on shares of Yelp from $35.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, October 31st. KeyCorp set a $54.00 target price on shares of Yelp and gave the company a “buy” rating in a research report on Thursday, November 16th. Needham & Company LLC reiterated a “buy” rating and issued a $49.00 target price on shares of Yelp in a research report on Thursday, November 2nd. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and issued a $52.00 target price on shares of Yelp in a research report on Thursday, November 2nd. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $43.55.

The company has a market cap of $3,200.00, a P/E ratio of 167.96, a price-to-earnings-growth ratio of 4.14 and a beta of 1.14.

A number of hedge funds have recently made changes to their positions in the business. Pier 88 Investment Partners LLC boosted its stake in Yelp by 11.9% during the fourth quarter. Pier 88 Investment Partners LLC now owns 12,175 shares of the local business review company’s stock worth $511,000 after buying an additional 1,295 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Yelp by 46.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,240 shares of the local business review company’s stock worth $178,000 after buying an additional 1,337 shares during the period. California State Teachers Retirement System boosted its stake in Yelp by 1.0% during the second quarter. California State Teachers Retirement System now owns 137,621 shares of the local business review company’s stock worth $4,131,000 after buying an additional 1,427 shares during the period. California Public Employees Retirement System boosted its stake in Yelp by 2.0% during the third quarter. California Public Employees Retirement System now owns 115,200 shares of the local business review company’s stock worth $4,988,000 after buying an additional 2,300 shares during the period. Finally, Flinton Capital Management LLC boosted its stake in Yelp by 39.1% during the second quarter. Flinton Capital Management LLC now owns 8,704 shares of the local business review company’s stock worth $261,000 after buying an additional 2,448 shares during the period. 86.09% of the stock is owned by institutional investors.

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About Yelp

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.

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