51,600 Shares in Yelp Inc. (NYSE:YELP) Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board acquired a new position in shares of Yelp Inc. (NYSE:YELP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 51,600 shares of the local business review company’s stock, valued at approximately $1,686,000. Canada Pension Plan Investment Board owned about 0.07% of Yelp at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its holdings in Yelp by 3.0% during the 3rd quarter. California State Teachers Retirement System now owns 107,769 shares of the local business review company’s stock worth $2,165,000 after buying an additional 3,126 shares during the period. Dupont Capital Management Corp raised its holdings in Yelp by 16.1% during the 4th quarter. Dupont Capital Management Corp now owns 56,916 shares of the local business review company’s stock worth $1,859,000 after buying an additional 7,875 shares during the period. SummerHaven Investment Management LLC acquired a new stake in Yelp during the 4th quarter worth approximately $594,000. Federated Hermes Inc. raised its holdings in Yelp by 56.4% during the 4th quarter. Federated Hermes Inc. now owns 380,754 shares of the local business review company’s stock worth $12,440,000 after buying an additional 137,269 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Yelp by 6.6% during the 4th quarter. Victory Capital Management Inc. now owns 11,157 shares of the local business review company’s stock worth $364,000 after buying an additional 693 shares during the period. 94.97% of the stock is currently owned by institutional investors and hedge funds.

YELP has been the topic of several research analyst reports. Barclays raised their target price on shares of Yelp from $22.00 to $28.00 and gave the stock an “underweight” rating in a report on Wednesday, February 10th. Wedbush lifted their price objective on shares of Yelp from $30.00 to $38.00 in a report on Wednesday, February 10th. UBS Group lifted their price objective on shares of Yelp from $30.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, February 10th. Credit Suisse Group lifted their price objective on shares of Yelp from $35.00 to $41.00 and gave the company an “outperform” rating in a report on Wednesday, February 10th. Finally, Jefferies Financial Group downgraded shares of Yelp from a “buy” rating to a “hold” rating and set a $32.00 price objective on the stock. in a report on Monday, January 11th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Yelp presently has an average rating of “Hold” and an average target price of $33.00.

In other news, insider Vivek Patel sold 54,236 shares of the business’s stock in a transaction dated Monday, March 8th. The shares were sold at an average price of $40.00, for a total value of $2,169,440.00. Following the completion of the sale, the insider now owns 149,879 shares of the company’s stock, valued at $5,995,160. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Sam Eaton sold 3,340 shares of the business’s stock in a transaction dated Monday, March 22nd. The shares were sold at an average price of $41.50, for a total transaction of $138,610.00. Following the completion of the sale, the chief technology officer now directly owns 145,519 shares of the company’s stock, valued at approximately $6,039,038.50. The disclosure for this sale can be found here. Insiders own 9.50% of the company’s stock.

YELP stock opened at $40.58 on Thursday. The company has a fifty day moving average price of $39.33 and a two-hundred day moving average price of $30.89. Yelp Inc. has a one year low of $17.83 and a one year high of $43.86. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of -238.69 and a beta of 1.44.

Yelp (NYSE:YELP) last released its quarterly earnings data on Tuesday, February 9th. The local business review company reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.28. Yelp had a negative net margin of 1.29% and a negative return on equity of 1.64%. The firm had revenue of $233.20 million during the quarter, compared to analysts’ expectations of $227.68 million. Research analysts expect that Yelp Inc. will post -0.95 EPS for the current fiscal year.

About Yelp

Yelp Inc operates a platform that connects consumers with local businesses in the United States, Canada, and internationally. The company's platform covers various local business categories, including restaurants, shopping, home and local services, beauty and fitness, health, and other categories.

Further Reading: Portfolio Manager

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Institutional Ownership by Quarter for Yelp (NYSE:YELP)

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