Insider Selling: Yelp Inc. (NYSE:YELP) Insider Sells $490,637.18 in Stock

Yelp Inc. (NYSE:YELP) insider Carmen Amara sold 12,854 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $38.17, for a total transaction of $490,637.18. Following the sale, the insider now directly owns 88,813 shares of the company’s stock, valued at $3,389,992.21. This represents a 12.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Yelp Stock Performance

Shares of NYSE YELP opened at $35.96 on Friday. The business’s 50-day simple moving average is $34.58 and its 200-day simple moving average is $35.65. Yelp Inc. has a 52 week low of $32.56 and a 52 week high of $48.99. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 21.53, a P/E/G ratio of 0.67 and a beta of 1.33.

Hedge Funds Weigh In On Yelp

A number of institutional investors have recently modified their holdings of the company. Fifth Third Bancorp increased its stake in shares of Yelp by 262.8% in the second quarter. Fifth Third Bancorp now owns 664 shares of the local business review company’s stock worth $25,000 after purchasing an additional 481 shares during the period. Meeder Asset Management Inc. acquired a new stake in Yelp during the second quarter worth about $25,000. GAMMA Investing LLC increased its position in shares of Yelp by 115.9% during the third quarter. GAMMA Investing LLC now owns 976 shares of the local business review company’s stock valued at $34,000 after purchasing an additional 524 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of Yelp by 54.5% in the third quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the local business review company’s stock valued at $40,000 after purchasing an additional 405 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in Yelp by 98.5% during the third quarter. Signaturefd LLC now owns 1,175 shares of the local business review company’s stock worth $41,000 after buying an additional 583 shares in the last quarter. Institutional investors own 90.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on YELP. Morgan Stanley increased their target price on Yelp from $32.00 to $34.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd. 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. decreased their target price on shares of Yelp from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Evercore ISI upgraded Yelp to a “hold” rating in a research note on Monday, November 11th. Finally, Bank of America initiated coverage on Yelp in a research note on Monday, September 16th. They issued an “underperform” rating and a $30.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Yelp currently has an average rating of “Hold” and an average price target of $37.00.

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.