Joseph Nachman, COO of Yelp, sold 20,325 shares on Dec. 5, 2025, as part of a pre-approved stock sale plan, reducing direct ownership to 195,880 shares. The adtech business has been struggling due to lower spending from its lower- and mid-income consumer base.

The sale involved 20,325 shares, valued at $611,845.51, representing 9.40% of direct holdings. The transaction did not involve derivative securities or indirect entities. It was part of Nachman’s systematic disposition plan, ranking at the upper end of his historical disposition range.

Yelp’s market cap is $1.9 billion, with revenue at $1.47 billion and net income at $150 million. One-year price change is -24.06%. The company operates an online platform connecting consumers with local businesses, generating revenue through advertising products and business management tools.

Yelp’s stock has declined by around 20% over the past year due to weakening advertising demand. Ad clicks fell 11% in Q3, while average cost-per-click rose 14%. Revenue from the RR&O segment decreased by 2% year-over-year, attributed to lower ad spending in the RR&O space.

Yelp shares trade at 12.7 times earnings and 1.4 times sales. The company’s advertising revenue growth depends heavily on macro events and competition, making future growth uncertain. Lower spending among lower- and mid-income consumers has impacted same-store sales in retail and dine-out traffic in restaurants.

The COO’s stock sale followed a pre-approved trading plan. Yelp’s stock decline is attributed to weakening advertising demand and slowing engagement metrics. While the Services segment continues to grow, challenges remain in the RR&O sector due to lower ad spending.

Read more at Yahoo Finance: Yelp COO Sells 20,325 Shares. Should You Be Worried?