Yelp’s chief product officer Craig Saldanha sells $37,990 in inventory

Craig Saldanha, the Chief Product Officer of Yelp Inc. (NYSE:YELP), not too long ago offered 1,000 shares of the corporate’s widespread inventory. The transaction, which passed off on December 23, 2024, was executed at a worth of $37.99 per share, amounting to a complete sale of $37,990. Yelp, presently valued at $2.6 billion, maintains spectacular monetary well being with an ideal Piotroski Rating of 9 and holds extra cash than debt on its stability sheet, in line with InvestingPro information. Following this transaction, Saldanha retains possession of 183,558 shares within the firm.

The sale was performed underneath a pre-established 10b5-1 buying and selling plan, which Saldanha adopted on August 30, 2024. Such plans permit firm insiders to arrange a predetermined schedule for promoting shares, offering a measure of safety towards potential accusations of insider buying and selling.

In different latest information, Yelp Inc. has finalized its acquisition of auto service platform RepairPal for $80 million, marking a major enlargement into the auto providers market. This improvement comes amid Yelp’s latest announcement of blended third quarter outcomes for 2024, with a document internet income of $360 million, a 4% improve year-over-year. Regardless of declines in restaurant, retail, and different classes, the corporate skilled progress in its Companies income, which elevated by 11%, and the Residence providers section income, which grew by 15%.

The corporate’s internet earnings margin stood at 11%, with a 28% adjusted EBITDA margin. Yelp additionally continued its share repurchases, with $62.5 million value of shares purchased again within the third quarter. For the complete yr, Yelp initiatives internet income between $1.397 billion and $1.402 billion, with adjusted EBITDA anticipated to be between $341 million to $346 million.

These latest developments underscore Yelp’s strategic strategy to progress and funding. The acquisition of RepairPal, suggested by TD Securities and Fenwick & West LLP, is anticipated to boost Yelp’s vary of providers by integrating a reliable auto restore element into its native enterprise platform. As Yelp navigates these latest developments, the corporate stays dedicated to disciplined expense administration, optimizing advertising and marketing spend, and leveraging AI to boost buyer interplay and advert matching.

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