David A. Schwarzbach, the Chief Financial Officer of Yelp Inc. (NYSE:YELP), has recently sold 10,000 shares of the company, according to a filing with the Securities and Exchange Commission. The shares were sold at an average price of $39.51, generating a total transaction value of approximately $395,067. The transaction comes as Yelp maintains strong financial health with a perfect Piotroski Score of 9 and impressive gross profit margins of 91%. InvestingPro analysis indicates the stock is currently undervalued, with 8 additional key insights available to subscribers.
The sale was executed under a pre-established 10b5-1 trading plan that Schwarzbach adopted on August 29, 2024. The shares were sold in multiple transactions, with prices ranging from $39.20 to $39.73. Following this transaction, Schwarzbach retains ownership of 191,988 shares in the company. Want deeper insights into insider trading patterns and comprehensive analysis? Access the full InvestingPro Research Report, part of our coverage of 1,400+ US stocks.
In other recent news, Yelp Inc. has completed an $80 million acquisition of auto service platform RepairPal. The acquisition is expected to bolster Yelp’s range of services by incorporating a trustworthy auto repair component into its local business platform. This venture is a recent development in Yelp’s strategic growth efforts.
Yelp has also reported mixed results for the third quarter of 2024, with a record net revenue of $360 million, marking a 4% increase year-over-year. Despite declines in restaurant, retail, and other categories, the company has seen notable growth in its Services revenue, which increased by 11%, and the Home services segment revenue grew by 15%. The company’s net income margin stood at 11%, with a 28% adjusted EBITDA margin.
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. These recent developments underscore Yelp’s ability to navigate a challenging market while pursuing growth through strategic investments and acquisitions.
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