Blue Trust Inc. buys 1,743 shares of Yelp Inc. (NYSE:YELP)

VaselineAugust 21, 2024

0 4 minutes read

Blue Trust Inc. increased its position in Yelp Inc. (NYSE:YELP – Free Report) by 148.0% during the second quarter, according to the company in its most recent SEC disclosure. The firm owned 2,921 shares of the local business evaluation company’s stock after purchasing an additional 1,743 shares during the quarter. Holdings of Blue Trust Inc. in Yelp were worth $115,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. CWM LLC boosted its holdings in Yelp by 24.7% in the second quarter. CWM LLC now owns 1,903 shares of the local business evaluation company’s stock valued at $70,000 after acquiring an additional 377 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in Yelp by 424.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 17,080 shares of the local business evaluation company’s stock valued at $661,000 after acquiring an additional 13,822 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in Yelp by 5.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 429,438 shares of the local business evaluation company’s stock valued at $16,920,000 after acquiring an additional 21,503 shares during the period. Vident Advisory LLC raised its holdings in Yelp by 49.9% in the first quarter. Vident Advisory LLC now owns 108,663 shares of the local business evaluation company’s stock valued at $4,281,000 after acquiring an additional 36,168 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Yelp in the 1st quarter worth approximately $3,861,000. Institutional investors own 90.11% of the company’s shares.

Analysts on Wall Street are forecasting an increase

A number of analysts have commented on YELP shares. Robert W. Baird cut their price target on Yelp from $44.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, May 10th. JPMorgan Chase & Co. cut their price target on Yelp from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Wolfe Research started coverage on Yelp in a research report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Craig Hallum cut their price target on Yelp from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Finally, StockNews.com cut Yelp from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $39.00, according to MarketBeat.

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Yelp traffic up 0.1%

NYSE:YELP opened at $34.33 on Wednesday. Yelp Inc. has a 12-month low of $32.56 and a 12-month high of $48.99. The stock has a 50-day moving average price of $35.75 and a 200-day moving average price of $37.87. The stock has a market cap of $2.30 billion, a P/E ratio of 21.87 and a beta of 1.33.

Yelp (NYSE:YELP – Get Your Free Report ) last released its earnings results on Thursday, August 8th. The local business valuation company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.27. Yelp had a return on equity of 18.71% and a net margin of 10.01%. The firm had revenue of $357.00 million during the quarter, compared to analysts’ expectations of $352.98 million. In the same quarter last year, the company posted earnings of $0.21 per share. The company’s revenue rose 5.9% year-over-year. On average, research analysts predict that Yelp Inc. will post 1.61 earnings per share for the current fiscal year.

Insider buying and selling on Yelp

In other Yelp news, COO Joseph R. Nachman sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $33.25, for a total transaction of $232,750.00. Following the completion of the transaction, the chief operating officer now owns 281,842 shares in the company, valued at approximately $9,371,246.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible via this link. In other Yelp news, COO Joseph R. Nachman sold 4,941 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $36.53, for a total transaction of $180,494.73. Following the completion of the transaction, the chief operating officer now owns 295,842 shares in the company, valued at approximately $10,807,108.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible via this link. Also, COO Joseph R. Nachman sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $33.25, for a total value of $232,750.00. Following the transaction, the chief operating officer now owns 281,842 shares of the company’s stock, valued at approximately $9,371,246.50. The disclosure for this sale can be found here. Insiders sold 19,366 shares of company stock worth $682,535 in the last quarter. 7.40% of shares are owned by corporate insiders.

About Yelp

(Free Report)

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, automotive, professional, pets, events, real estate and financial services.