Alerus Financial NA Buys New Holdings in Yelp Inc. (NYSE:YELP)

Alerus Financial NA bought a new stake in Yelp Inc. (NYSE:YELP) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 23,119 shares of the local business review company’s stock, valued at approximately $924,000.

A number of other institutional investors have also recently modified their holdings of YELP. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Yelp by 1.2% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,498 shares of the local business review company’s stock worth $916,000 after purchasing an additional 271 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of Yelp by 2.6% during the first quarter. Royal Bank of Canada now owns 11,191 shares of the local business review company’s stock worth $437,000 after purchasing an additional 286 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of Yelp by 0.8% during the second quarter. State Board of Administration of Florida Retirement System now owns 35,460 shares of the local business review company’s stock worth $1,417,000 after purchasing an additional 298 shares in the last quarter. US Bancorp DE lifted its stake in shares of Yelp by 32.1% during the first quarter. US Bancorp DE now owns 1,317 shares of the local business review company’s stock worth $52,000 after purchasing an additional 320 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of Yelp by 1.6% during the first quarter. Arizona State Retirement System now owns 21,540 shares of the local business review company’s stock worth $840,000 after purchasing an additional 331 shares in the last quarter. Hedge funds and other institutional investors own 89.36% of the company’s stock.

A number of brokerages have commented on YELP. Credit Suisse Group boosted their price objective on Yelp from $43.00 to $53.00 and gave the stock an “outperform” rating in a research note on Friday, August 6th. Barclays boosted their price objective on Yelp from $30.00 to $31.00 and gave the stock an “underweight” rating in a research note on Friday, August 6th. Morgan Stanley restated a “sell” rating and set a $33.00 price objective on shares of Yelp in a research note on Wednesday, July 14th. Finally, Zacks Investment Research cut Yelp from a “buy” rating to a “hold” rating and set a $41.00 target price for the company. in a research note on Thursday, August 12th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.56.

Shares of NYSE:YELP traded up $0.54 on Wednesday, reaching $37.31. 1,238 shares of the company’s stock were exchanged, compared to its average volume of 824,890. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 159.87 and a beta of 1.87. Yelp Inc. has a fifty-two week low of $18.67 and a fifty-two week high of $43.86. The business’s 50-day moving average is $37.54 and its two-hundred day moving average is $39.01.

Yelp (NYSE:YELP) last issued its earnings results on Thursday, August 5th. The local business review company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.13. The company had revenue of $257.19 million for the quarter, compared to analysts’ expectations of $246.37 million. Yelp had a net margin of 1.96% and a return on equity of 2.24%. Sell-side analysts anticipate that Yelp Inc. will post 0.08 EPS for the current year.

In related news, insider Miriam Warren sold 2,535 shares of the stock in a transaction dated Monday, August 23rd. The shares were sold at an average price of $37.09, for a total value of $94,023.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Sam Eaton sold 4,085 shares of the stock in a transaction dated Thursday, September 16th. The stock was sold at an average price of $36.14, for a total transaction of $147,631.90. The disclosure for this sale can be found here. 9.50% of the stock is currently owned by corporate insiders.

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 local business 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.

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Institutional Ownership by Quarter for Yelp (NYSE:YELP)

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