Bank of New York Mellon Corp Sells 23,449 Shares of Yelp Inc. (NYSE:YELP)

Bank of New York Mellon Corp cut its position in Yelp Inc. (NYSE:YELP) by 4.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 468,495 shares of the local business review company’s stock after selling 23,449 shares during the period. Bank of New York Mellon Corp’s holdings in Yelp were worth $17,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of YELP. Principal Financial Group Inc. grew its stake in Yelp by 2.2% during the first quarter. Principal Financial Group Inc. now owns 374,536 shares of the local business review company’s stock valued at $13,869,000 after acquiring an additional 8,239 shares in the last quarter. Northern Trust Corp grew its stake in Yelp by 8.3% during the fourth quarter. Northern Trust Corp now owns 752,742 shares of the local business review company’s stock valued at $29,131,000 after acquiring an additional 57,610 shares in the last quarter. Elevate Capital Advisors LLC purchased a new position in Yelp during the first quarter valued at $2,766,000. Allspring Global Investments Holdings LLC grew its stake in shares of Yelp by 272.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 56,595 shares of the local business review company’s stock worth $2,160,000 after buying an additional 41,400 shares in the last quarter. Finally, Trexquant Investment LP grew its stake in shares of Yelp by 609.5% in the 4th quarter. Trexquant Investment LP now owns 159,157 shares of the local business review company’s stock worth $6,159,000 after buying an additional 136,724 shares in the last quarter. 90.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Yelp

In related news, CFO David A. Schwarzbach sold 10,000 shares of Yelp stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $34.68, for a total transaction of $346,800.00. Following the completion of the sale, the chief financial officer owned 199,654 shares in the company, valued at $6,924,000.72. This trade represents a 4.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Sam Eaton sold 12,904 shares of Yelp stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $38.18, for a total transaction of $492,674.72. Following the sale, the chief technology officer owned 145,064 shares of the company’s stock, valued at $5,538,543.52. The trade was a 8.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,345 shares of company stock worth $2,150,876 over the last ninety days. 8.00% of the stock is currently owned by company insiders.

Yelp Trading Down 0.5%

Yelp stock opened at $34.45 on Friday. The firm has a 50-day moving average price of $36.32 and a 200-day moving average price of $36.63. The firm has a market capitalization of $2.20 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 0.82 and a beta of 0.98. Yelp Inc. has a 12-month low of $32.29 and a 12-month high of $41.72.

Yelp (NYSE:YELP) last announced its quarterly earnings data on Thursday, May 8th. The local business review company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. Yelp had a net margin of 9.95% and a return on equity of 19.42%. The company had revenue of $358.53 million during the quarter, compared to analyst estimates of $353.48 million. During the same quarter last year, the business posted $0.20 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, sell-side analysts predict that Yelp Inc. will post 2.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

YELP has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Yelp from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. Wall Street Zen raised shares of Yelp from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, Morgan Stanley dropped their price objective on shares of Yelp from $35.00 to $30.00 and set an “underweight” rating for the company in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $34.00.

Yelp Company 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.