Allspring Global Investments Holdings LLC Sells 5,520 Shares of Yelp Inc. (NYSE:YELP)

Allspring Global Investments Holdings LLC decreased its holdings in shares of Yelp Inc. (NYSE:YELP) by 61.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,517 shares of the local business review company’s stock after selling 5,520 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Yelp were worth $123,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fidelis Capital Partners LLC acquired a new position in shares of Yelp in the 1st quarter valued at $25,000. Fifth Third Bancorp raised its holdings in shares of Yelp by 262.8% in the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the local business review company’s stock valued at $25,000 after purchasing an additional 481 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Yelp in the 2nd quarter valued at about $25,000. GAMMA Investing LLC raised its holdings in Yelp by 115.9% in the 3rd quarter. GAMMA Investing LLC now owns 976 shares of the local business review company’s stock valued at $34,000 after acquiring an additional 524 shares during the period. Finally, Exchange Traded Concepts LLC raised its holdings in Yelp by 54.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the local business review company’s stock valued at $40,000 after acquiring an additional 405 shares during the period. Institutional investors own 90.11% of the company’s stock.

Insider Transactions at Yelp

In other Yelp news, COO Joseph R. Nachman sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $34.02, for a total transaction of $238,140.00. Following the completion of the transaction, the chief operating officer now owns 255,558 shares in the company, valued at approximately $8,694,083.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Joseph R. Nachman sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $34.02, for a total transaction of $238,140.00. Following the completion of the sale, the chief operating officer now owns 255,558 shares of the company’s stock, valued at $8,694,083.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Sam Eaton sold 10,776 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $35.00, for a total transaction of $377,160.00. Following the sale, the chief technology officer now directly owns 145,171 shares of the company’s stock, valued at approximately $5,080,985. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.40% of the stock is owned by corporate insiders.

Yelp Price Performance

Shares of Yelp stock opened at $34.35 on Tuesday. Yelp Inc. has a fifty-two week low of $32.56 and a fifty-two week high of $48.99. The firm has a market capitalization of $2.30 billion, a P/E ratio of 18.08, a P/E/G ratio of 0.78 and a beta of 1.33. The company’s 50 day moving average price is $34.21 and its two-hundred day moving average price is $35.85.

Yelp (NYSE:YELP) last issued its earnings results on Thursday, August 8th. The local business review company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. The firm had revenue of $357.00 million for the quarter, compared to analyst estimates of $352.98 million. Yelp had a net margin of 10.01% and a return on equity of 18.71%. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the business posted $0.21 earnings per share. On average, analysts expect that Yelp Inc. will post 1.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

YELP has been the topic of several research analyst reports. Bank of America initiated coverage on shares of Yelp in a report on Monday, September 16th. They issued an “underperform” rating and a $30.00 price target on the stock. The Goldman Sachs Group cut shares of Yelp from a “buy” rating to a “neutral” rating and lowered their price target for the company from $46.00 to $38.00 in a report on Monday, October 14th. JPMorgan Chase & Co. lowered their price target on shares of Yelp from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. StockNews.com cut shares of Yelp from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, Morgan Stanley increased their price target on shares of Yelp from $32.00 to $34.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Yelp has an average rating of “Hold” and a consensus target price of $37.33.

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.