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SAN FRANCISCO—Joseph R. Nachman, Chief Operating Officer of Yelp Inc. (NYSE:YELP), recently sold shares of the company, according to a recent SEC filing. The transaction comes as Yelp's stock has declined nearly 14% over the past week, currently trading near its 52-week low of $32.56. On April 7, Nachman sold a total of 7,000 shares, generating proceeds of approximately $236,351. The transactions were executed under a 10b5-1 trading plan adopted in December 2024. According to InvestingPro data, despite the insider sale, Yelp maintains strong fundamentals with impressive gross profit margins of 91% and an overall financial health rating of "GREAT."
The sales occurred in two separate transactions. The first involved 5,400 shares sold at a weighted average price of $33.5916, with prices ranging from $33.105 to $34.02. The second transaction included 1,600 shares sold at a weighted average price of $34.3481, with prices ranging from $34.14 to $34.405.
Following these sales, Nachman retains ownership of 280,595 shares of Yelp. The transactions were conducted directly, and the details are available upon request to the SEC, the issuer, or a security holder of the issuer. For deeper insights into insider trading patterns and 10+ additional exclusive tips about Yelp's financial outlook, visit InvestingPro, where you'll find comprehensive analysis in the Pro Research Report.
In other recent news, Yelp Inc. reported fourth-quarter results that surpassed expectations, with adjusted earnings per share of $0.62, beating the analyst estimate of $0.53. The company also reported revenue of $361.95 million for the quarter, exceeding the consensus estimate of $351.61 million. For the full year 2024, Yelp achieved a record net revenue of $1.41 billion, marking a 6% increase year-over-year. Advertising revenue from services categories grew 11% year-over-year to $879 million, which helped offset a 3% decline in the restaurant, retail, and other categories. Yelp's net income for 2024 rose 34% year-over-year to $133 million, with an adjusted EBITDA growth of 8% to $358 million. Looking forward, Yelp provided an optimistic outlook for 2025, projecting net revenue between $1.47 billion and $1.485 billion, aligning with analyst consensus. Additionally, Craig-Hallum raised the price target for Yelp shares to $48, maintaining a Buy rating, reflecting optimism about the company's growth, particularly in its Home Services sector. The firm's analyst highlighted Yelp's investments in artificial intelligence and lead generation as key factors in its positive performance.
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