Lead Edge Capital Management LLC Invests $36.63 Million in Yext $YEXT

Lead Edge Capital Management LLC acquired a new stake in Yext (NYSE:YEXT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 7,843,296 shares of the company’s stock, valued at approximately $36,628,192. Yext accounts for approximately 0.0% of Lead Edge Capital Management LLC’s holdings, making the stock its 8th largest position. Lead Edge Capital Management LLC owned about 7.82% of Yext as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Yext during the 2nd quarter worth approximately $34,536,000. Lynrock Lake LP increased its stake in Yext by 23.3% during the 4th quarter. Lynrock Lake LP now owns 15,132,384 shares of the company’s stock valued at $121,967,000 after buying an additional 2,861,653 shares during the period. Hudson Bay Capital Management LP grew its position in Yext by 126.2% during the fourth quarter. Hudson Bay Capital Management LP now owns 2,952,453 shares of the company’s stock valued at $23,797,000 after purchasing an additional 1,647,174 shares in the last quarter. OP Asset Management Ltd acquired a new position in shares of Yext during the 1st quarter worth about $3,915,000. Finally, First Trust Advisors LP acquired a new stake in shares of Yext during the 4th quarter worth about $5,634,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

YEXT has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Yext from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. Weiss Ratings upgraded Yext from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 3rd. Finally, Zacks Research cut Yext from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $6.67.

Yext Stock Up 2.7%

Shares of NYSE YEXT traded up $0.18 during trading hours on Friday, hitting $6.94. The stock had a trading volume of 560,991 shares, compared to its average volume of 2,050,464. The company has a debt-to-equity ratio of 6.03, a quick ratio of 0.79 and a current ratio of 0.79. The firm’s 50-day moving average price is $5.38 and its two-hundred day moving average price is $4.73. Yext has a 52 week low of $3.27 and a 52 week high of $9.20. The company has a market capitalization of $695.74 million, a P/E ratio of 99.14 and a beta of 1.13.

Insider Activity at Yext

In other Yext news, Director Daniel J. Englander purchased 76,190 shares of the firm’s stock in a transaction on Monday, July 13th. The stock was acquired at an average price of $5.22 per share, for a total transaction of $397,711.80. Following the purchase, the director owned 141,190 shares of the company’s stock, valued at $737,011.80. This trade represents a 117.22% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Seth H. Waugh bought 133,000 shares of Yext stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average cost of $3.75 per share, for a total transaction of $498,750.00. Following the purchase, the director owned 319,411 shares of the company’s stock, valued at $1,197,791.25. The trade was a 71.35% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 7.80% of the company’s stock.

About Yext

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.