Mengis Capital Management Inc. decreased its position in Yelp Inc. (NYSE:YELP – Free Report) by 10.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,280 shares of the local business review company’s stock after selling 600 shares during the period. Mengis Capital Management Inc.’s holdings in Yelp were worth $220,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Ronald Blue Trust Inc. boosted its holdings in Yelp by 96.6% during the third quarter. Ronald Blue Trust Inc. now owns 755 shares of the local business review company’s stock worth $31,000 after buying an additional 371 shares during the last quarter. Dark Forest Capital Management LP raised its position in shares of Yelp by 83.6% during the first quarter. Dark Forest Capital Management LP now owns 1,166 shares of the local business review company’s stock worth $36,000 after purchasing an additional 531 shares during the period. Belpointe Asset Management LLC raised its position in shares of Yelp by 221.1% during the first quarter. Belpointe Asset Management LLC now owns 1,204 shares of the local business review company’s stock worth $37,000 after purchasing an additional 829 shares during the period. Quadrant Capital Group LLC raised its position in shares of Yelp by 172.2% during the second quarter. Quadrant Capital Group LLC now owns 1,481 shares of the local business review company’s stock worth $54,000 after purchasing an additional 937 shares during the period. Finally, State of Wyoming acquired a new stake in shares of Yelp during the second quarter worth about $64,000. Institutional investors own 90.11% of the company’s stock.
Insider Activity at Yelp
In other Yelp news, CEO Jeremy Stoppelman sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $45.00, for a total value of $450,000.00. Following the transaction, the chief executive officer now owns 2,082,010 shares in the company, valued at $93,690,450. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Yelp news, CTO Sam Eaton sold 25,402 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $45.75, for a total value of $1,162,141.50. Following the completion of the sale, the chief technology officer now directly owns 168,756 shares of the company’s stock, valued at $7,720,587. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeremy Stoppelman sold 10,000 shares of Yelp stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $45.00, for a total value of $450,000.00. Following the completion of the transaction, the chief executive officer now owns 2,082,010 shares of the company’s stock, valued at $93,690,450. The disclosure for this sale can be found here. Insiders have sold a total of 59,852 shares of company stock worth $2,726,652 in the last 90 days. Corporate insiders own 7.20% of the company’s stock.
Yelp Price Performance
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on YELP shares. Craig Hallum dropped their target price on Yelp from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, December 8th. JPMorgan Chase & Co. upgraded Yelp from an “underweight” rating to a “neutral” rating and set a $39.00 target price for the company in a research note on Friday, October 27th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $41.44.
Yelp Inc operates a platform that connects consumers with local businesses in the United States and internationally. The company's platform covers various local business 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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