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

Martingale Asset Management L P grew its position in shares of Yelp Inc. (NYSE:YELP) by 15.1% in the 3rd quarter, HoldingsChannel reports. The fund 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’s holdings in Yelp were worth $2,113,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Fifth Third Bancorp increased its stake in Yelp by 262.8% during 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 in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Yelp during the second quarter worth about $25,000. GAMMA Investing LLC raised its holdings in shares of Yelp by 115.9% in the 3rd quarter. GAMMA Investing LLC now owns 976 shares of the local business review company’s stock worth $34,000 after acquiring an additional 524 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in 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 acquiring an additional 405 shares in the last quarter. Finally, Signaturefd LLC boosted 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 valued at $41,000 after purchasing an additional 583 shares during the last quarter. Institutional investors own 90.11% of the company’s stock.

Wall Street Analysts Forecast Growth

YELP has been the subject of several recent analyst reports. StockNews.com upgraded shares of Yelp from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 11th. The Goldman Sachs Group lowered 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 report on Monday, October 14th. Robert W. Baird reduced their price objective on Yelp from $39.00 to $37.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. JPMorgan Chase & Co. lowered their target price on Yelp from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Finally, Evercore ISI upgraded shares of Yelp to a “hold” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $37.00.

Yelp Stock Up 0.4 %

Shares of NYSE YELP opened at $38.22 on Friday. The business has a 50-day simple moving average of $35.19 and a two-hundred day simple moving average of $35.46. Yelp Inc. has a 52 week low of $32.56 and a 52 week high of $48.99. The company has a market cap of $2.52 billion, a P/E ratio of 22.89, a P/E/G ratio of 0.69 and a beta of 1.33.

Insider Activity

In other news, 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 sale, the chief technology officer now directly owns 122,480 shares in the company, valued at approximately $4,301,497.60. The trade was a 8.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Carmen Amara sold 12,854 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $38.17, for a total value of $490,637.18. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,598 shares of company stock worth $1,106,106. 7.40% of the stock is owned by company insiders.

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.