JPMorgan Chase & Co. Has $12.36 Million Stock Holdings in Yelp Inc. (NYSE:YELP)

JPMorgan Chase & Co. trimmed its stake in shares of Yelp Inc. (NYSE:YELP) by 21.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 352,401 shares of the local business review company’s stock after selling 98,413 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.54% of Yelp worth $12,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Meeder Asset Management Inc. acquired a new position in shares of Yelp in the 2nd quarter worth approximately $25,000. GAMMA Investing LLC increased its position in shares of Yelp by 115.9% during the third quarter. GAMMA Investing LLC now owns 976 shares of the local business review company’s stock worth $34,000 after buying an additional 524 shares during the period. Exchange Traded Concepts LLC raised its stake 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 worth $40,000 after buying an additional 405 shares during the last quarter. Signaturefd LLC lifted its holdings in Yelp by 98.5% in 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. Finally, Quarry LP lifted its holdings in Yelp by 153.4% in the second quarter. Quarry LP now owns 1,323 shares of the local business review company’s stock valued at $49,000 after buying an additional 801 shares during the period. 90.11% of the stock is currently owned by institutional investors.

Yelp Stock Down 1.4 %

NYSE YELP opened at $38.49 on Friday. Yelp Inc. has a 52 week low of $32.56 and a 52 week high of $45.91. The business has a 50 day moving average price of $38.08 and a 200-day moving average price of $35.96. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 23.05, a P/E/G ratio of 0.71 and a beta of 1.34.

Insider Activity at Yelp

In other Yelp news, CTO Sam Eaton sold 10,744 shares of Yelp stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $35.12, for a total transaction of $377,329.28. Following the completion of the transaction, the chief technology officer now owns 122,480 shares in the company, valued at approximately $4,301,497.60. The trade was a 8.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Carmen Amara sold 12,854 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $38.17, for a total value of $490,637.18. Following the sale, the insider now directly owns 88,813 shares of the company’s stock, valued at $3,389,992.21. This represents a 12.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,865 shares of company stock valued at $1,734,268. 7.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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