State Street Corp grew its holdings in Yelp Inc. (NYSE:YELP - Free Report) by 0.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,553,227 shares of the local business review company's stock after purchasing an additional 23,719 shares during the quarter. State Street Corp owned about 3.82% of Yelp worth $89,567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fifth Third Bancorp lifted its stake 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. acquired a new position in Yelp during the 2nd quarter worth approximately $25,000. GAMMA Investing LLC raised its stake in Yelp by 115.9% during the 3rd 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 3rd 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 period. Finally, Signaturefd LLC raised its stake in Yelp by 98.5% during the 3rd quarter. Signaturefd LLC now owns 1,175 shares of the local business review company's stock worth $41,000 after buying an additional 583 shares during the period. 90.11% of the stock is owned by institutional investors and hedge funds.
In other news, CFO David A. Schwarzbach sold 10,000 shares of the company's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $38.29, for a total value of $382,900.00. Following the completion of the transaction, the chief financial officer now directly owns 211,988 shares of the company's stock, valued at $8,117,020.52. This represents a 4.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Carmen Amara sold 12,854 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $38.17, for a total value of $490,637.18. Following the transaction, the insider now directly owns 88,813 shares of the company's stock, valued at approximately $3,389,992.21. This trade represents a 12.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,865 shares of company stock valued at $1,537,218 over the last three months. Corporate insiders own 7.40% of the company's stock.
A number of research firms recently weighed in on YELP. Bank of America began coverage on Yelp in a research note on Monday, September 16th. They set an "underperform" rating and a $30.00 price target on the stock. Robert W. Baird dropped their price target on Yelp from $39.00 to $37.00 and set a "neutral" rating on the stock in a research note on Friday, November 8th. StockNews.com raised Yelp from a "buy" rating to a "strong-buy" rating in a research note on Monday, November 11th. Evercore ISI raised Yelp to a "hold" rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group downgraded Yelp from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $46.00 to $38.00 in a research note on Monday, October 14th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $37.00.
Check Out Our Latest Stock Report on YELP
YELP stock opened at $39.83 on Tuesday. The firm has a market cap of $2.62 billion, a PE ratio of 23.85, a P/E/G ratio of 0.71 and a beta of 1.35. The business has a 50 day moving average of $36.28 and a 200-day moving average of $35.62. Yelp Inc. has a 12-month low of $32.56 and a 12-month high of $48.99.
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.
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