Yelp Inc.'s (NYSE:YELP) Chief People Officer, Carmen Orr, has sold a total of 14,984 shares of the company's common stock, realizing over $569,000 from the sale. The transactions, which took place on May 16, 2024, were executed at a weighted average price of $38.0007 per share, with individual sales prices ranging from $37.98 to $38.08.
Investors tracking insider transactions will note that following the sale, Orr's direct ownership in the company stands at 110,011 shares. The sale was disclosed in a filing with the Securities and Exchange Commission, where the price range and weighted average were detailed, indicating that the shares were sold in multiple transactions.
The sales activity comes as part of routine filings that executives and insiders of publicly traded companies are required to make when buying or selling shares of their own companies. These transactions provide investors with insights into the actions of individuals who are often privy to the most current and sensitive business information.
The details of the transactions, including the number of shares sold at each price point, are available upon request for those interested in the specifics, including the SEC staff, Yelp Inc., or any shareholder of the issuer.
Yelp Inc., known for its crowd-sourced reviews and business information, has its shares traded on the New York Stock Exchange under the ticker symbol YELP. The company's business address is located in San Francisco, California, where it continues to operate as a key player in the services sector, particularly focusing on personal services.
The filing also included a signature from Elizabeth Prosser, who is the attorney-in-fact for Carmen Orr, dated May 20, 2024. This indicates that the document has been duly authorized on behalf of Orr.
The recent sale by Yelp's Chief People Officer will likely be of interest to the investment community as they assess the stock's performance and insider confidence in the company's future prospects.
InvestingPro Insights
As Yelp Inc. (NYSE:YELP) navigates the dynamic market landscape, recent data from InvestingPro provides additional context for investors. Despite the insider sale by the Chief People Officer, Yelp's financial health appears robust. The company's market capitalization stands at $2.52 billion, reflecting its significant presence in the online review space. With a P/E ratio of 18.42 for the last twelve months as of Q1 2024, Yelp is trading at a valuation that suggests investor confidence in its earnings capacity.
One noteworthy InvestingPro Tip is that Yelp holds more cash than debt on its balance sheet, which is a positive sign for investors looking for financial stability in their investments. Furthermore, the company's impressive gross profit margins, which were at 91.49% for the last twelve months as of Q1 2024, indicate efficient management and a strong business model capable of generating high returns on sales.
For investors seeking more in-depth analysis, there are additional InvestingPro Tips available, including insights on Yelp's share buyback strategy, shareholder yield, and analysts' earnings revisions. To explore these valuable insights, visit InvestingPro's Yelp page and discover a total of 9 additional tips that could further inform investment decisions. Moreover, by using the coupon code PRONEWS24, readers can obtain an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enhancing their access to premium financial data and analysis.
Lastly, the InvestingPro Fair Value estimate for Yelp stands at $43.45, suggesting potential upside from the previous close price of $37.25. This fair value estimate, alongside Yelp's profitability over the last twelve months and analysts' prediction of continued profitability this year, paints a picture of a company with solid fundamentals and potential for growth.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.