Truist Financial Corp Buys New Position in Yelp Inc. (NYSE:YELP)

Truist Financial Corp purchased a new position in Yelp Inc. (NYSE:YELP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,124 shares of the local business review company’s stock, valued at approximately $276,000.

Other large investors have also modified their holdings of the company. International Assets Investment Management LLC grew its holdings in shares of Yelp by 9,073.1% during the third quarter. International Assets Investment Management LLC now owns 2,385 shares of the local business review company’s stock valued at $84,000 after buying an additional 2,359 shares during the last quarter. US Bancorp DE lifted its position in Yelp by 18.9% during the 3rd quarter. US Bancorp DE now owns 19,546 shares of the local business review company’s stock worth $686,000 after acquiring an additional 3,101 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in Yelp by 114.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 279,180 shares of the local business review company’s stock valued at $9,794,000 after purchasing an additional 148,917 shares during the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of Yelp in the third quarter valued at about $54,000. Finally, CWA Asset Management Group LLC purchased a new position in shares of Yelp in the third quarter worth about $364,000. Hedge funds and other institutional investors own 90.11% of the company’s stock.

Yelp Stock Performance

YELP opened at $33.68 on Thursday. The company has a fifty day moving average of $38.56 and a two-hundred day moving average of $36.67. Yelp Inc. has a fifty-two week low of $32.56 and a fifty-two week high of $41.72. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 0.76 and a beta of 1.33.

Yelp (NYSE:YELP) last released its quarterly earnings results on Thursday, February 13th. The local business review company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.09. The company had revenue of $361.95 million during the quarter, compared to analysts’ expectations of $350.73 million. Yelp had a return on equity of 18.07% and a net margin of 9.41%. On average, equities research analysts forecast that Yelp Inc. will post 2.22 earnings per share for the current year.

Insider Activity

In related news, CTO Sam Eaton sold 21,989 shares of Yelp stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $35.70, for a total value of $785,007.30. Following the sale, the chief technology officer now directly owns 153,159 shares in the company, valued at approximately $5,467,776.30. The trade was a 12.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Carmen Amara sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $33.16, for a total value of $49,740.00. Following the sale, the insider now owns 107,207 shares of the company’s stock, valued at approximately $3,554,984.12. This trade represents a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,489 shares of company stock worth $2,087,187 in the last quarter. Corporate insiders own 7.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Robert W. Baird dropped their target price on Yelp from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Morgan Stanley upped their price objective on shares of Yelp from $34.00 to $35.00 and gave the company an “underweight” rating in a report on Monday, January 13th. StockNews.com raised shares of Yelp from a “buy” rating to a “strong-buy” rating in a report on Monday, November 11th. Finally, Evercore ISI upgraded shares of Yelp to a “hold” rating in a research report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Yelp has a consensus rating of “Hold” and an average target price of $37.17.

Yelp Company Profile

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.