Southpoint Capital Advisors LP cut its stake in Yelp Inc (NYSE:YELP) by 5.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,900,000 shares of the local business review company’s stock after selling 100,000 shares during the quarter. Yelp makes up 3.8% of Southpoint Capital Advisors LP’s portfolio, making the stock its 10th biggest holding. Southpoint Capital Advisors LP’s holdings in Yelp were worth $79,724,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Crestline Management LP acquired a new position in shares of Yelp in the third quarter worth $1,209,000. Convergence Investment Partners LLC acquired a new position in shares of Yelp in the fourth quarter worth $1,624,000. Fine Capital Partners L.P. increased its position in Yelp by 24.7% during the third quarter. Fine Capital Partners L.P. now owns 1,365,462 shares of the local business review company’s stock worth $59,125,000 after buying an additional 270,500 shares during the last quarter. Rhumbline Advisers increased its position in Yelp by 6.0% during the third quarter. Rhumbline Advisers now owns 92,970 shares of the local business review company’s stock worth $4,026,000 after buying an additional 5,254 shares during the last quarter. Finally, Swiss National Bank increased its position in Yelp by 3.1% during the third quarter. Swiss National Bank now owns 128,064 shares of the local business review company’s stock worth $5,545,000 after buying an additional 3,900 shares during the last quarter. 89.32% of the stock is currently owned by institutional investors and hedge funds.
YELP has been the topic of several analyst reports. KeyCorp set a $54.00 target price on shares of Yelp and gave the stock a “buy” rating in a research report on Thursday, November 16th. Zacks Investment Research raised shares of Yelp from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Tuesday, November 21st. Bank of America increased their target price on shares of Yelp from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. SunTrust Banks set a $50.00 target price on shares of Yelp and gave the stock a “buy” rating in a research report on Thursday, February 8th. Finally, Credit Suisse Group lowered their target price on shares of Yelp from $51.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, February 8th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eighteen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $43.66.
In other news, CEO Jeremy Stoppelman sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $44.37, for a total transaction of $576,810.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Geoffrey L. Donaker sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $41.09, for a total transaction of $246,540.00. Following the sale, the director now directly owns 9,590 shares of the company’s stock, valued at approximately $394,053.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 229,500 shares of company stock valued at $9,824,290. Corporate insiders own 10.10% of the company’s stock.
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Yelp Inc (Yelp) connects people with local businesses by bringing ‘word of mouth’ online and providing a platform for businesses and consumers to engage and transact. The Company offers local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences with other consumers by posting reviews, tips, photos and videos, and to engage directly with businesses, through reviews, its Request-A-Quote and Message the Business features, and by completing transactions on the Yelp Platform.
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