JPMorgan Chase & Co. Has $14.53 Million Stock Holdings in Yelp Inc. $YELP

JPMorgan Chase & Co. decreased its holdings in shares of Yelp Inc. (NYSE:YELP) by 33.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 424,086 shares of the local business review company’s stock after selling 209,948 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.66% of Yelp worth $14,533,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of YELP. Acadian Asset Management LLC increased its position in Yelp by 4.2% during the second quarter. Acadian Asset Management LLC now owns 2,359,112 shares of the local business review company’s stock worth $80,827,000 after buying an additional 95,933 shares during the last quarter. LSV Asset Management boosted its stake in shares of Yelp by 10.1% during the 2nd quarter. LSV Asset Management now owns 2,093,765 shares of the local business review company’s stock worth $71,753,000 after acquiring an additional 191,447 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Yelp by 5.4% during the 1st quarter. Ameriprise Financial Inc. now owns 1,403,461 shares of the local business review company’s stock valued at $51,981,000 after acquiring an additional 71,626 shares during the last quarter. Jupiter Asset Management Ltd. raised its stake in shares of Yelp by 268.1% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 753,173 shares of the local business review company’s stock valued at $25,811,000 after acquiring an additional 548,586 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in Yelp by 23.1% in the 2nd quarter. Allianz Asset Management GmbH now owns 683,935 shares of the local business review company’s stock worth $23,438,000 after purchasing an additional 128,138 shares during the last quarter. Institutional investors and hedge funds own 90.11% of the company’s stock.

Analyst Upgrades and Downgrades

YELP has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Yelp in a research report on Tuesday, October 14th. Wall Street Zen upgraded shares of Yelp from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Research cut shares of Yelp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. JPMorgan Chase & Co. lowered their price target on Yelp from $33.00 to $30.00 and set a “neutral” rating on the stock in a research report on Monday, November 10th. Finally, Evercore ISI cut their price objective on Yelp from $45.00 to $38.00 and set an “outperform” rating for the company in a research report on Monday, November 10th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $32.20.

Insider Transactions at Yelp

In other news, insider Craig Saldanha sold 1,200 shares of Yelp stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $28.62, for a total transaction of $34,344.00. Following the sale, the insider owned 193,279 shares of the company’s stock, valued at approximately $5,531,644.98. This trade represents a 0.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David A. Schwarzbach sold 9,611 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $29.31, for a total value of $281,698.41. Following the completion of the transaction, the chief financial officer owned 141,127 shares of the company’s stock, valued at $4,136,432.37. The trade was a 6.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 52,906 shares of company stock worth $1,637,585 over the last 90 days. Insiders own 8.00% of the company’s stock.

Yelp Stock Performance

NYSE:YELP opened at $29.67 on Friday. The firm’s 50-day moving average is $30.95 and its 200-day moving average is $32.88. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 0.62 and a beta of 0.56. Yelp Inc. has a 52-week low of $27.29 and a 52-week high of $41.72.

Yelp (NYSE:YELP) last released its earnings results on Thursday, November 6th. The local business review company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.14. Yelp had a net margin of 10.23% and a return on equity of 20.33%. The business had revenue of $376.04 million during the quarter, compared to analysts’ expectations of $368.39 million. During the same quarter last year, the company earned $0.56 earnings per share. The firm’s revenue was up 4.4% on a year-over-year basis. Equities analysts predict that Yelp Inc. will post 2.22 EPS for the current year.

About Yelp

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.