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SAN FRANCISCO—Saldanha Craig, Chief Product Officer at Yelp Inc. (NYSE:YELP), has sold 1,000 shares of the company's common stock, according to a recent SEC filing. The shares were sold at a price of $38.40 each, resulting in a total transaction value of $38,400. According to InvestingPro analysis, Yelp currently shows strong financial health with a perfect Piotroski Score of 9 and industry-leading gross profit margins of over 91%.
This transaction was conducted under a 10b5-1 trading plan, which Craig adopted on August 30, 2024. Following this sale, Craig retains ownership of 182,558 shares in the company.
Yelp, headquartered in San Francisco, continues to be a significant player in the personal services sector, offering a platform for user reviews and recommendations.
In other recent news, Yelp Inc. has finalized its acquisition of auto service platform RepairPal in an $80 million cash transaction. This strategic move is anticipated to enhance Yelp's range of services by integrating a trustworthy auto repair component into its local business platform. In addition to this development, Yelp announced mixed results for the third quarter of 2024, with a record net revenue of $360 million, a 4% increase year-over-year, despite declines in restaurant, retail, and other categories. The company also reported an 11% net income margin and a 28% adjusted EBITDA margin. Yelp's Services revenue notably increased by 11%, and the Home services segment revenue grew by 15%. 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 highlight Yelp's efforts to navigate a challenging market while pursuing growth through strategic investments and acquisitions.
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