California State Teachers Retirement System grew its position in Yelp Inc (NYSE:YELP) by 1.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 137,621 shares of the local business review company’s stock after buying an additional 1,427 shares during the period. California State Teachers Retirement System owned 0.17% of Yelp worth $4,131,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in YELP. Strs Ohio bought a new stake in shares of Yelp in the 2nd quarter valued at about $108,000. Russell Investments Group Ltd. boosted its stake in Yelp by 98.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,091 shares of the local business review company’s stock worth $123,000 after purchasing an additional 2,033 shares in the last quarter. ProShare Advisors LLC acquired a new stake in Yelp in the 2nd quarter worth approximately $215,000. Prudential Financial Inc. acquired a new stake in Yelp in the 2nd quarter worth approximately $249,000. Finally, Blair William & Co. IL acquired a new stake in Yelp in the 2nd quarter worth approximately $251,000. Institutional investors and hedge funds own 89.28% of the company’s stock.
Yelp Inc (NYSE YELP) opened at $46.07 on Friday. The stock has a market cap of $3.77 billion, a PE ratio of 209.00, a price-to-earnings-growth ratio of 25.00 and a beta of 1.29. Yelp Inc has a 52-week low of $26.93 and a 52-week high of $48.17.
Yelp (NYSE:YELP) last released its quarterly earnings data on Wednesday, November 1st. The local business review company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.30. The company had revenue of $222.40 million for the quarter, compared to analysts’ expectations of $220.75 million. Yelp had a net margin of 2.31% and a return on equity of 2.26%. The business’s revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.22 EPS. analysts forecast that Yelp Inc will post 0.07 earnings per share for the current fiscal year.
Yelp announced that its Board of Directors has authorized a share repurchase plan on Thursday, August 3rd that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the local business review company to reacquire up to 7.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.
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In other news, insider Laurence Wilson sold 30,000 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $46.18, for a total transaction of $1,385,400.00. Following the sale, the insider now owns 187,739 shares in the company, valued at approximately $8,669,787.02. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Geoffrey L. Donaker sold 6,000 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $47.00, for a total transaction of $282,000.00. Following the sale, the director now owns 9,590 shares in the company, valued at approximately $450,730. The disclosure for this sale can be found here. Insiders have sold a total of 310,981 shares of company stock valued at $13,545,530 over the last three months. Insiders own 10.10% of the company’s stock.
YELP has been the subject of several recent research reports. Jefferies Group LLC lifted their target price on shares of Yelp from $37.00 to $43.00 and gave the company a “buy” rating in a report on Friday, August 4th. Needham & Company LLC reissued a “buy” rating and issued a $43.00 price target (up previously from $30.00) on shares of Yelp in a research note on Friday, August 4th. MKM Partners raised shares of Yelp from a “neutral” rating to a “buy” rating and lifted their price target for the company from $27.00 to $31.31 in a research note on Friday, August 4th. Credit Suisse Group set a $40.00 price target on shares of Yelp and gave the company a “buy” rating in a research note on Friday, August 4th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $45.00 price target (up previously from $36.00) on shares of Yelp in a research note on Friday, August 4th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Yelp has a consensus rating of “Buy” and a consensus target price of $43.37.
Yelp Company Profile
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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