State of Wisconsin Investment Board lowered its stake in shares of Yelp Inc. (NYSE:YELP) by 63.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,526 shares of the local business review company’s stock after selling 23,597 shares during the period. State of Wisconsin Investment Board’s holdings in Yelp were worth $443,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. EastBay Asset Management LLC increased its position in Yelp by 33.3% in the fourth quarter. EastBay Asset Management LLC now owns 2,447,689 shares of the local business review company’s stock valued at $93,328,000 after buying an additional 611,127 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its position in Yelp by 24.2% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 2,247,200 shares of the local business review company’s stock valued at $73,595,000 after buying an additional 437,820 shares during the period. Macquarie Group Ltd. increased its position in Yelp by 85.6% in the fourth quarter. Macquarie Group Ltd. now owns 1,723,136 shares of the local business review company’s stock valued at $65,703,000 after buying an additional 794,636 shares during the period. Orbis Allan Gray Ltd increased its position in Yelp by 1.3% in the fourth quarter. Orbis Allan Gray Ltd now owns 1,600,817 shares of the local business review company’s stock valued at $61,039,000 after buying an additional 21,198 shares during the period. Finally, Wells Fargo & Company MN increased its position in Yelp by 375.5% in the first quarter. Wells Fargo & Company MN now owns 1,388,422 shares of the local business review company’s stock valued at $45,470,000 after buying an additional 1,096,446 shares during the period. Hedge funds and other institutional investors own 90.75% of the company’s stock.

Institutional Ownership by Quarter for Yelp (NYSE:YELP)

Yelp Inc. (YELP) opened at 30.15 on Friday. The firm has a market capitalization of $2.43 billion, a PE ratio of 407.43 and a beta of 1.66. Yelp Inc. has a 52-week low of $26.35 and a 52-week high of $43.41. The stock’s 50 day moving average is $30.47 and its 200-day moving average is $34.89.

Yelp (NYSE:YELP) last announced its earnings results on Tuesday, May 9th. The local business review company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $197.32 million during the quarter, compared to analysts’ expectations of $198.51 million. Yelp had a return on equity of 0.77% and a net margin of 0.80%. The company’s revenue was up 24.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.08 earnings per share. Equities analysts expect that Yelp Inc. will post ($0.08) earnings per share for the current year.

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YELP has been the subject of several recent research reports. Macquarie restated an “outperform” rating and set a $47.00 target price on shares of Yelp in a report on Tuesday, March 14th. Vetr upgraded shares of Yelp from a “hold” rating to a “buy” rating and set a $36.94 target price for the company in a report on Wednesday, May 3rd. Goldman Sachs Group, Inc. (The) upgraded shares of Yelp from a “neutral” rating to a “buy” rating and dropped their target price for the company from $42.00 to $34.00 in a report on Wednesday, May 10th. They noted that the move was a valuation call. Cantor Fitzgerald restated a “buy” rating and set a $46.00 target price on shares of Yelp in a report on Friday, May 5th. Finally, Deutsche Bank AG dropped their target price on shares of Yelp from $52.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, May 10th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and sixteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $35.42.

In other news, CFO Charles Baker sold 12,176 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $28.23, for a total value of $343,728.48. Following the completion of the sale, the chief financial officer now directly owns 116,862 shares of the company’s stock, valued at $3,299,014.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Laurence Wilson sold 3,128 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $28.23, for a total value of $88,303.44. Following the completion of the sale, the senior vice president now directly owns 181,947 shares of the company’s stock, valued at $5,136,363.81. The disclosure for this sale can be found here. Insiders sold 71,121 shares of company stock valued at $2,225,146 over the last three months. 11.08% of the stock is owned by company insiders.

About Yelp

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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