NewEdge Wealth LLC Purchases New Stake in Yext $YEXT

NewEdge Wealth LLC bought a new stake in shares of Yext (NYSE:YEXT) in the fourth quarter, Holdings Channel reports. The fund bought 180,948 shares of the company’s stock, valued at approximately $1,458,000.

Several other large investors also recently added to or reduced their stakes in YEXT. The Manufacturers Life Insurance Company increased its stake in shares of Yext by 7.1% in the second quarter. The Manufacturers Life Insurance Company now owns 5,595,447 shares of the company’s stock worth $47,561,000 after purchasing an additional 371,253 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Yext by 10.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,808,257 shares of the company’s stock worth $15,406,000 after purchasing an additional 178,338 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Yext by 8.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,354,835 shares of the company’s stock valued at $11,543,000 after acquiring an additional 106,197 shares in the last quarter. Qube Research & Technologies Ltd increased its position in shares of Yext by 38.9% in the third quarter. Qube Research & Technologies Ltd now owns 1,330,133 shares of the company’s stock worth $11,333,000 after purchasing an additional 372,175 shares during the last quarter. Finally, Hudson Bay Capital Management LP bought a new stake in Yext during the third quarter valued at approximately $11,121,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Yext Stock Performance

Shares of YEXT opened at $3.56 on Thursday. Yext has a 12 month low of $3.29 and a 12 month high of $9.20. The business’s fifty day simple moving average is $4.29 and its two-hundred day simple moving average is $6.42. The company has a market cap of $356.79 million, a price-to-earnings ratio of 59.41 and a beta of 1.14. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.61.

Yext (NYSE:YEXT) last issued its earnings results on Monday, March 9th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. Yext had a return on equity of 29.61% and a net margin of 8.48%.The business had revenue of $112.00 million during the quarter, compared to analyst estimates of $114.21 million. During the same quarter in the previous year, the firm earned $0.13 EPS. Yext’s revenue was down 1.0% on a year-over-year basis. Research analysts anticipate that Yext will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on YEXT. Wall Street Zen lowered Yext from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. DA Davidson reissued a “neutral” rating and issued a $6.00 price target on shares of Yext in a report on Wednesday, March 11th. Roth Mkm lowered Yext from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $9.50 to $6.00 in a research report on Wednesday, March 11th. Weiss Ratings cut shares of Yext from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. Finally, B. Riley Financial dropped their price target on Yext from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.50.

Insider Activity at Yext

In related news, CAO Allan Tang sold 10,000 shares of the company’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $3.62, for a total transaction of $36,200.00. Following the completion of the sale, the chief accounting officer owned 7,848 shares in the company, valued at approximately $28,409.76. This represents a 56.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.20% of the stock is owned by insiders.

Yext Company Profile

Yext, Inc is a software-as-a-service company that provides a platform for digital knowledge management. Its core offering enables businesses to centrally manage and synchronize public-facing information—such as location details, product descriptions and service offerings—across a network of search engines, mapping services, voice assistants and third-party directories.

The Yext platform is built around a proprietary Knowledge Graph, which stores and structures data to ensure consistency and accuracy.