State Board of Administration of Florida Retirement System boosted its holdings in shares of Yext Inc (NYSE:YEXT) by 13.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,986 shares of the company’s stock after acquiring an additional 3,610 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Yext were worth $734,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Spark Investment Management LLC increased its position in Yext by 387.9% during the second quarter. Spark Investment Management LLC now owns 491,800 shares of the company’s stock worth $9,511,000 after buying an additional 391,000 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Yext during the second quarter worth approximately $1,015,000. Catalyst Capital Advisors LLC acquired a new position in Yext during the second quarter worth approximately $874,000. Strs Ohio acquired a new position in Yext during the second quarter worth approximately $1,119,000. Finally, Sei Investments Co. acquired a new position in Yext during the second quarter worth approximately $1,430,000. Hedge funds and other institutional investors own 52.36% of the company’s stock.
In other Yext news, insider Tom Christopher Dixon sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $15.10, for a total transaction of $75,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Howard Lerman sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $25.67, for a total transaction of $770,100.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 871,894 shares of company stock valued at $17,708,081. Company insiders own 20.80% of the company’s stock.
A number of brokerages have recently issued reports on YEXT. DA Davidson reduced their price objective on Yext to $24.00 and set a “buy” rating for the company in a report on Monday, December 3rd. They noted that the move was a valuation call. Zacks Investment Research upgraded Yext from a “sell” rating to a “hold” rating in a report on Saturday, November 17th. Berenberg Bank assumed coverage on Yext in a report on Friday, November 16th. They set a “buy” rating and a $25.00 price objective for the company. KeyCorp reiterated a “hold” rating on shares of Yext in a research note on Thursday, November 29th. Finally, Morgan Stanley cut their price target on Yext from $25.00 to $18.00 and set an “equal weight” rating for the company in a research note on Monday, December 3rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $22.00.
Shares of YEXT stock opened at $15.55 on Friday. The company has a market capitalization of $1.52 billion, a P/E ratio of -18.29 and a beta of 1.46. Yext Inc has a 1 year low of $10.58 and a 1 year high of $27.19.
Yext (NYSE:YEXT) last issued its quarterly earnings results on Thursday, November 29th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.04). The company had revenue of $58.70 million during the quarter, compared to the consensus estimate of $58.39 million. Yext had a negative net margin of 38.03% and a negative return on equity of 104.78%. The company’s quarterly revenue was up 32.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.12) earnings per share. On average, research analysts predict that Yext Inc will post -0.83 EPS for the current year.
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Yext, Inc provides a knowledge engine platform that lets businesses manage their digital knowledge in the cloud in North America and Europe. The company offers Yext Knowledge Engine, a cloud-based global platform that enables businesses to control and manage their digital knowledge and make it available through its PowerListings Network of approximately 150 third-party maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories, and social networks.
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