Martingale Asset Management L P Buys 7,907 Shares of Yelp Inc. (NYSE:YELP)

Martingale Asset Management L P boosted its position in shares of Yelp Inc. (NYSE:YELP) by 15.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,240 shares of the local business review company’s stock after buying an additional 7,907 shares during the period. Martingale Asset Management L P owned approximately 0.09% of Yelp worth $2,113,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of YELP. CWM LLC increased its stake in Yelp by 24.7% in the second quarter. CWM LLC now owns 1,903 shares of the local business review company’s stock valued at $70,000 after acquiring an additional 377 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Yelp by 54.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the local business review company’s stock valued at $40,000 after purchasing an additional 405 shares in the last quarter. Fifth Third Bancorp increased 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 last quarter. GAMMA Investing LLC raised its holdings in shares of 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 in the last quarter. Finally, Signaturefd LLC lifted its position in shares of 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 last quarter. 90.11% of the stock is owned by institutional investors.

Yelp Trading Up 0.4 %

Shares of YELP stock opened at $38.22 on Friday. The stock has a 50-day moving average of $35.19 and a 200-day moving average of $35.46. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 0.69 and a beta of 1.33. Yelp Inc. has a 1-year low of $32.56 and a 1-year high of $48.99.

Insiders Place Their Bets

In related news, COO Joseph R. Nachman sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $34.02, for a total transaction of $238,140.00. Following the completion of the sale, the chief operating officer now owns 255,558 shares of the company’s stock, valued at $8,694,083.16. This trade represents a 2.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Sam Eaton sold 10,744 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $35.12, for a total value of $377,329.28. Following the completion of the transaction, the chief technology officer now directly owns 122,480 shares in the company, valued at approximately $4,301,497.60. This trade represents a 8.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,598 shares of company stock worth $1,106,106. 7.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on YELP shares. The Goldman Sachs Group cut Yelp from a “buy” rating to a “neutral” rating and decreased their target price for the company from $46.00 to $38.00 in a research report on Monday, October 14th. StockNews.com upgraded shares of Yelp from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 11th. Bank of America assumed 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. Evercore ISI upgraded shares of Yelp to a “hold” rating in a report on Monday, November 11th. Finally, Robert W. Baird cut their price objective on Yelp from $39.00 to $37.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Yelp has an average rating of “Hold” and an average target price of $37.00.

Yelp 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.