Geoffrey L. Donaker Sells 6,000 Shares of Yelp Inc. (YELP) Stock
Yelp Inc. (NYSE:YELP) Director Geoffrey L. Donaker sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $43.36, for a total transaction of $260,160.00. Following the completion of the transaction, the director now owns 9,590 shares in the company, valued at approximately $415,822.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Yelp Inc. (NYSE YELP) opened at 44.52 on Friday. The company has a market capitalization of $3.64 billion, a P/E ratio of 281.77 and a beta of 1.34. The stock’s 50 day moving average price is $43.86 and its 200 day moving average price is $35.96. Yelp Inc. has a one year low of $26.93 and a one year high of $46.76.
Yelp (NYSE:YELP) last issued its quarterly earnings data on Thursday, August 3rd. The local business review company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.12. The firm had revenue of $209.90 million during the quarter, compared to analysts’ expectations of $204.89 million. Yelp had a return on equity of 1.60% and a net margin of 1.67%. The firm’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 EPS. Equities analysts anticipate that Yelp Inc. will post $0.07 EPS for the current fiscal year.
Yelp announced that its Board of Directors has authorized a share repurchase program on Thursday, August 3rd that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the local business review company to repurchase up to 7.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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Several research analysts have recently issued reports on the stock. Cantor Fitzgerald cut shares of Yelp from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $46.73 to $44.00 in a report on Monday, October 9th. BidaskClub upgraded shares of Yelp from a “hold” rating to a “buy” rating in a report on Friday, October 6th. KeyCorp restated a “buy” rating and issued a $54.00 target price on shares of Yelp in a report on Wednesday, October 4th. Bank of America Corporation raised their target price on shares of Yelp from $43.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday, October 10th. Finally, Goldman Sachs Group Inc restated a “neutral” rating and issued a $42.00 target price on shares of Yelp in a report on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, twenty have given a hold rating and eighteen have assigned a buy rating to the company’s stock. Yelp has a consensus rating of “Hold” and a consensus target price of $40.81.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Yelp by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 5,935,362 shares of the local business review company’s stock worth $178,180,000 after purchasing an additional 231,754 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Yelp by 84.9% during the 2nd quarter. BlackRock Inc. now owns 5,232,684 shares of the local business review company’s stock worth $157,084,000 after purchasing an additional 2,403,240 shares during the last quarter. Prescott General Partners LLC lifted its stake in shares of Yelp by 21.3% during the 2nd quarter. Prescott General Partners LLC now owns 3,851,774 shares of the local business review company’s stock worth $115,630,000 after purchasing an additional 676,251 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD lifted its stake in shares of Yelp by 38.7% during the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 3,116,090 shares of the local business review company’s stock worth $93,545,000 after purchasing an additional 868,890 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of Yelp by 17.7% during the 3rd quarter. Fisher Asset Management LLC now owns 2,893,867 shares of the local business review company’s stock worth $125,304,000 after purchasing an additional 434,574 shares during the last quarter. Hedge funds and other institutional investors own 90.85% of the company’s stock.
Yelp Company Profile
Yelp Inc (Yelp) connects people with local businesses by bringing ‘word of mouth’ online and providing a platform for businesses and consumers to engage and transact. The Company offers local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences with other consumers by posting reviews, tips, photos and videos, and to engage directly with businesses, through reviews, its Request-A-Quote and Message the Business features, and by completing transactions on the Yelp Platform.
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