In recent trading activity, Eaton (NYSE:ETN) Sam, the Chief Technology Officer at Yelp Inc. (NYSE:NYSE:YELP), sold 267 shares of the company's common stock. The transaction, which took place on December 2, 2024, was executed at a price of $38.06 per share, amounting to a total of $10,162. According to InvestingPro analysis, Yelp currently shows strong fundamentals with a perfect Piotroski Score of 9 and impressive gross profit margins of 91%.
This sale was conducted under a 10b5-1 trading plan, which was adopted by Sam on February 21, 2024. Following this transaction, Sam holds 122,480 shares of Yelp stock. The shares sold were previously acquired through the company's 2012 Employee Stock Purchase Plan on November 30, 2024. InvestingPro data suggests the stock is currently undervalued, with management actively buying back shares. Discover 10+ additional exclusive insights and detailed analysis in the Pro Research Report, available with an InvestingPro subscription.
In other recent news, Yelp Inc. has finalized the acquisition of auto service platform RepairPal in an $80 million cash transaction. This strategic move is expected to expand Yelp's presence in the auto services market. The financial advisory role for this acquisition was filled by TD Securities for RepairPal, and legal counsel was provided by Fenwick & West LLP. Yelp's legal advice was offered by Cooley LLP.
In addition to this acquisition, Yelp reported mixed results for the third quarter of 2024. The company announced record net revenue of $360 million, marking a 4% year-over-year increase. Despite declines in restaurant, retail, and other categories, Yelp's Services revenue increased by 11%. The Home services segment revenue grew by 15%, propelled by a 25% rise in requests for quotes.
For the full year, Yelp projects net revenue between $1.397 billion and $1.402 billion, with adjusted EBITDA expected to be between $341 million to $346 million. As Yelp navigates these recent developments, the company maintains a focus on disciplined expense management, optimizing marketing spend, and leveraging AI to enhance customer interaction and ad matching.
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