Allspring Global Investments Holdings LLC Has $588,000 Position in Yelp Inc. (NYSE:YELP)

Allspring Global Investments Holdings LLC increased its position in Yelp Inc. (NYSE:YELP) by 332.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,195 shares of the local business review company’s stock after buying an additional 11,678 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Yelp were worth $588,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Bristlecone Advisors LLC bought a new stake in Yelp during the fourth quarter worth approximately $1,197,000. Newbridge Financial Services Group Inc. bought a new stake in Yelp during the fourth quarter worth approximately $161,000. Stephens Inc. AR bought a new stake in Yelp during the fourth quarter worth approximately $595,000. Entropy Technologies LP boosted its position in Yelp by 57.6% during the fourth quarter. Entropy Technologies LP now owns 24,537 shares of the local business review company’s stock worth $950,000 after purchasing an additional 8,966 shares during the period. Finally, Meritage Portfolio Management boosted its position in Yelp by 12.4% during the fourth quarter. Meritage Portfolio Management now owns 16,385 shares of the local business review company’s stock worth $634,000 after purchasing an additional 1,812 shares during the period. Institutional investors own 90.11% of the company’s stock.

Insider Buying and Selling

In other Yelp news, insider Craig Saldanha sold 1,000 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $35.75, for a total transaction of $35,750.00. Following the completion of the transaction, the insider now directly owns 211,558 shares in the company, valued at $7,563,198.50. This represents a 0.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Sam Eaton sold 21,989 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $35.70, for a total value of $785,007.30. Following the transaction, the chief technology officer now owns 153,159 shares of the company’s stock, valued at $5,467,776.30. This represents a 12.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,256 shares of company stock valued at $2,120,559 over the last ninety days. 7.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on YELP. StockNews.com raised Yelp from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 11th. Robert W. Baird reduced their price objective on Yelp from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Evercore ISI raised Yelp to a “hold” rating in a research report on Monday, November 11th. Finally, Morgan Stanley increased their price objective on Yelp from $34.00 to $35.00 and gave the company an “underweight” rating in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $37.17.

Yelp Price Performance

Shares of YELP stock opened at $35.31 on Tuesday. The stock has a market cap of $2.32 billion, a P/E ratio of 18.39, a price-to-earnings-growth ratio of 0.76 and a beta of 1.33. Yelp Inc. has a one year low of $32.56 and a one year high of $41.72. The stock has a fifty day moving average price of $39.11 and a 200 day moving average price of $36.65.

Yelp (NYSE:YELP) last issued its earnings results on Thursday, February 13th. The local business review company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.53 by $0.09. The firm had revenue of $361.95 million during the quarter, compared to analysts’ expectations of $350.73 million. Yelp had a return on equity of 18.07% and a net margin of 9.41%. Equities research analysts anticipate that Yelp Inc. will post 2.22 EPS for the current year.

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.