Ingalls & Snyder LLC Has $3.66 Million Stake in Yelp Inc. (NYSE:YELP)

Ingalls & Snyder LLC trimmed its position in shares of Yelp Inc. (NYSE:YELP) by 8.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 94,662 shares of the local business review company’s stock after selling 8,386 shares during the quarter. Ingalls & Snyder LLC owned approximately 0.14% of Yelp worth $3,663,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Avion Wealth boosted its stake in shares of Yelp by 1,963.6% during the fourth quarter. Avion Wealth now owns 908 shares of the local business review company’s stock valued at $35,000 after purchasing an additional 864 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Yelp by 332.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 15,195 shares of the local business review company’s stock worth $588,000 after purchasing an additional 11,678 shares in the last quarter. Bristlecone Advisors LLC bought a new stake in shares of Yelp during the fourth quarter valued at approximately $1,197,000. Newbridge Financial Services Group Inc. bought a new stake in Yelp during the fourth quarter worth $161,000. Finally, Stephens Inc. AR purchased a new position in Yelp in the fourth quarter worth $595,000. 90.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

YELP has been the topic of a number of recent research reports. StockNews.com raised Yelp from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 11th. Robert W. Baird dropped their target price on Yelp from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Evercore ISI upgraded Yelp to a “hold” rating in a research note on Monday, November 11th. Finally, Morgan Stanley raised their price objective on Yelp from $34.00 to $35.00 and gave the company an “underweight” rating in a research report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Yelp presently has a consensus rating of “Hold” and an average target price of $37.17.

Insiders Place Their Bets

In other news, insider Craig Saldanha sold 1,000 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $38.05, for a total transaction of $38,050.00. Following the completion of the sale, the insider now owns 184,558 shares in the company, valued at approximately $7,022,431.90. This represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David A. Schwarzbach sold 10,000 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $39.72, for a total transaction of $397,200.00. Following the transaction, the chief financial officer now directly owns 201,988 shares of the company’s stock, valued at $8,022,963.36. This represents a 4.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,011 shares of company stock valued at $1,677,131 in the last ninety days. 7.40% of the stock is currently owned by corporate insiders.

Yelp Stock Down 1.0 %

YELP stock opened at $39.68 on Thursday. The company’s 50-day simple moving average is $39.48 and its 200-day simple moving average is $36.50. Yelp Inc. has a 52-week low of $32.56 and a 52-week high of $45.60. The firm has a market cap of $2.61 billion, a P/E ratio of 23.76, a PEG ratio of 0.55 and a beta of 1.33.

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.