Point72 Hong Kong Ltd Sells 12,124 Shares of Yelp Inc. (NYSE:YELP)

Point72 Hong Kong Ltd cut its holdings in shares of Yelp Inc. (NYSE:YELP) by 19.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,005 shares of the local business review company’s stock after selling 12,124 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Yelp were worth $1,754,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in YELP. DekaBank Deutsche Girozentrale increased its holdings in shares of Yelp by 424.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 17,080 shares of the local business review company’s stock valued at $661,000 after purchasing an additional 13,822 shares during the last quarter. CWM LLC grew its stake in Yelp by 24.7% in the 2nd 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 last quarter. Blue Trust Inc. raised its holdings in Yelp by 148.0% in the 2nd quarter. Blue Trust Inc. now owns 2,921 shares of the local business review company’s stock valued at $115,000 after acquiring an additional 1,743 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new stake in Yelp during the second quarter worth approximately $266,000. Finally, Summit Global Investments boosted its holdings in shares of 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. Institutional investors own 90.11% of the company’s stock.

Insider Buying and Selling at Yelp

In other news, CTO Sam Eaton sold 10,744 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $35.12, for a total value of $377,329.28. Following the sale, the chief technology officer now directly owns 122,480 shares in the company, valued at approximately $4,301,497.60. This trade represents a 8.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Joseph R. Nachman sold 7,000 shares of Yelp stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $34.02, for a total transaction of $238,140.00. Following the sale, the chief operating officer now directly owns 255,558 shares in the company, valued at $8,694,083.16. This trade represents a 2.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,598 shares of company stock worth $1,106,106 over the last three months. Corporate insiders own 7.40% of the company’s stock.

Yelp Trading Up 0.4 %

Shares of NYSE:YELP opened at $38.22 on Monday. The stock has a market capitalization of $2.52 billion, a PE ratio of 22.89, a PEG ratio of 0.68 and a beta of 1.35. The firm has a 50 day moving average of $35.19 and a 200-day moving average of $35.44. Yelp Inc. has a 12 month low of $32.56 and a 12 month high of $48.99.

Analyst Ratings Changes

YELP has been the topic of a number of recent research reports. Evercore ISI upgraded Yelp to a “hold” rating in a research note on Monday, November 11th. StockNews.com raised Yelp from a “buy” rating to a “strong-buy” rating in a report on Monday, November 11th. The Goldman Sachs Group downgraded shares of Yelp from a “buy” rating to a “neutral” rating and decreased their price target for the company from $46.00 to $38.00 in a research note on Monday, October 14th. Robert W. Baird dropped their price objective on shares of Yelp from $39.00 to $37.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Finally, Bank of America started coverage on shares of Yelp in a research report on Monday, September 16th. They set an “underperform” rating and a $30.00 target price on the stock. Two 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 MarketBeat, Yelp currently has a consensus rating of “Hold” and an average price target 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.