Pinnacle Associates Ltd. Cuts Position in Yandex NV (NASDAQ:YNDX)

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Pinnacle Associates Ltd. cut its stake in Yandex NV (NASDAQ:YNDX) by 7.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,978 shares of the information services provider’s stock after selling 3,322 shares during the period. Pinnacle Associates Ltd.’s holdings in Yandex were worth $1,481,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Genesis Asset Managers LLP boosted its position in Yandex by 1.3% during the second quarter. Genesis Asset Managers LLP now owns 5,801,957 shares of the information services provider’s stock valued at $220,474,000 after buying an additional 76,967 shares during the period. Wells Fargo & Company MN boosted its position in Yandex by 0.9% during the first quarter. Wells Fargo & Company MN now owns 3,399,443 shares of the information services provider’s stock valued at $116,737,000 after buying an additional 29,199 shares during the period. Neuberger Berman Group LLC boosted its position in Yandex by 21.8% during the first quarter. Neuberger Berman Group LLC now owns 2,912,723 shares of the information services provider’s stock valued at $100,023,000 after buying an additional 520,736 shares during the period. Thornburg Investment Management Inc. boosted its position in Yandex by 6.9% during the first quarter. Thornburg Investment Management Inc. now owns 2,224,409 shares of the information services provider’s stock valued at $76,386,000 after buying an additional 143,406 shares during the period. Finally, Artisan Partners Limited Partnership boosted its position in Yandex by 20.4% during the first quarter. Artisan Partners Limited Partnership now owns 2,093,556 shares of the information services provider’s stock valued at $71,893,000 after buying an additional 354,309 shares during the period. Institutional investors own 64.22% of the company’s stock.

Several analysts have issued reports on the stock. HSBC set a $45.00 price target on shares of Yandex and gave the company a “buy” rating in a research report on Friday, June 14th. VTB Capital raised shares of Yandex from a “hold” rating to a “buy” rating in a research note on Tuesday, June 11th. Bank of America set a $50.00 price objective on shares of Yandex and gave the company a “buy” rating in a research note on Monday, July 15th. BidaskClub downgraded shares of Yandex from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 6th. Finally, Renaissance Capital raised shares of Yandex from a “hold” rating to a “buy” rating in a research note on Tuesday, June 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $44.20.

Shares of NASDAQ:YNDX opened at $36.35 on Friday. The company has a market cap of $11.85 billion, a price-to-earnings ratio of 38.26 and a beta of 1.92. The company has a 50-day moving average price of $38.25 and a 200-day moving average price of $36.69. The company has a current ratio of 3.03, a quick ratio of 3.03 and a debt-to-equity ratio of 0.05. Yandex NV has a 12 month low of $24.90 and a 12 month high of $42.37.

Yandex (NASDAQ:YNDX) last issued its quarterly earnings data on Friday, July 26th. The information services provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.10). The firm had revenue of $41.40 billion for the quarter, compared to the consensus estimate of $40.64 billion. Yandex had a net margin of 12.15% and a return on equity of 12.09%. The business’s revenue was up 41.0% on a year-over-year basis. During the same period last year, the company posted $15.11 earnings per share. As a group, research analysts forecast that Yandex NV will post 1.19 EPS for the current fiscal year.

Yandex Company Profile

Yandex N.V., an Internet and technology company, operates an Internet search engine in Russia and internationally. The company offers search, location-based, personalized, and mobile services that enable users to find information, and communicate and connect over the Internet from desktops and mobile devices.

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Institutional Ownership by Quarter for Yandex (NASDAQ:YNDX)

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