Institutional investors purchased a net $9.3 million shares of YELP during the quarter ended December 2012. This may signal that the smart money is gaining interest in this company as the 82.97% of the shares outstanding that institutional investors hold is among the lowest in the Internet Software/Services industry.
| Other institutional | 61.33% |
| Individual stakeholders | 5.52% |
| Mutual fund holders | 21.64% |