Yelp Inc. (NYSE:YELP) Insider Craig Saldanha Sells 1,000 Shares

Yelp Inc. (NYSE:YELP) insider Craig Saldanha sold 1,000 shares of Yelp stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $38.05, for a total value of $38,050.00. Following the transaction, the insider now owns 184,558 shares of the company’s stock, valued at $7,022,431.90. This trade represents a 0.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Yelp Price Performance

NYSE YELP traded up $0.33 during trading on Monday, hitting $38.55. 946,987 shares of the company’s stock traded hands, compared to its average volume of 729,637. The stock has a fifty day moving average of $35.19 and a two-hundred day moving average of $35.42. Yelp Inc. has a 12-month low of $32.56 and a 12-month high of $48.99. The firm has a market cap of $2.54 billion, a P/E ratio of 22.82, a PEG ratio of 0.68 and a beta of 1.35.

Institutional Trading of Yelp

Several institutional investors have recently added to or reduced their stakes in YELP. Fifth Third Bancorp boosted its position in Yelp by 262.8% during the second quarter. Fifth Third Bancorp now owns 664 shares of the local business review company’s stock valued at $25,000 after buying an additional 481 shares during the period. Meeder Asset Management Inc. purchased a new stake in Yelp during the second quarter valued at about $25,000. GAMMA Investing LLC boosted its position in Yelp by 115.9% during the third quarter. GAMMA Investing LLC now owns 976 shares of the local business review company’s stock valued at $34,000 after buying an additional 524 shares during the period. Exchange Traded Concepts LLC boosted its position in Yelp by 54.5% during the third quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the local business review company’s stock valued at $40,000 after buying an additional 405 shares during the period. Finally, Signaturefd LLC boosted its position in Yelp by 98.5% during the third quarter. Signaturefd LLC now owns 1,175 shares of the local business review company’s stock valued at $41,000 after buying an additional 583 shares during the period. 90.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on YELP shares. StockNews.com upgraded Yelp from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 11th. Evercore ISI upgraded Yelp to a “hold” rating in a research note on Monday, November 11th. Bank of America started coverage on Yelp in a research note on Monday, September 16th. They issued an “underperform” rating and a $30.00 target price on the stock. Robert W. Baird cut their target price on Yelp from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Finally, The Goldman Sachs Group downgraded Yelp from a “buy” rating to a “neutral” rating and cut their target price for the stock from $46.00 to $38.00 in a research note on Monday, October 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $37.00.

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.