Yext (NYSE:YEXT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.
According to Zacks, “Yext, Inc. provides digital media technology services. It offers advertising, monetization, phone and directory services which includes business listings on search sites and real-time reputation management. The Company provides Yext Knowledge Engine. It serves healthcare and pharmaceuticals, retail, financial services, manufacturing and technology industries. Yext, Inc. is based in New York. “
Several other equities analysts have also recently issued reports on the company. KeyCorp reissued a “buy” rating and set a $16.00 target price on shares of Yext in a research note on Thursday, November 30th. Piper Jaffray Companies reissued a “buy” rating and set a $16.00 target price on shares of Yext in a research note on Friday, March 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $16.00.
In related news, President Brian Distelburger sold 8,160 shares of the company’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $12.19, for a total value of $99,470.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Steven Cakebread sold 10,000 shares of the company’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $13.30, for a total value of $133,000.00. The disclosure for this sale can be found here. Insiders have sold 655,420 shares of company stock worth $7,826,495 over the last three months.
A number of hedge funds have recently modified their holdings of YEXT. Ontario Teachers Pension Plan Board grew its stake in Yext by 200.0% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 1,500,000 shares of the company’s stock worth $18,045,000 after purchasing an additional 1,000,000 shares during the period. Vanguard Group Inc. purchased a new stake in Yext in the second quarter worth $10,627,000. Grand Jean Capital Management Inc. grew its stake in Yext by 602.5% in the fourth quarter. Grand Jean Capital Management Inc. now owns 621,293 shares of the company’s stock worth $7,474,000 after purchasing an additional 532,856 shares during the period. BlackRock Inc. grew its stake in Yext by 73.5% in the fourth quarter. BlackRock Inc. now owns 1,257,040 shares of the company’s stock worth $15,122,000 after purchasing an additional 532,722 shares during the period. Finally, Trustees of Princeton University purchased a new stake in Yext in the fourth quarter worth $6,015,000. 38.78% of the stock is currently owned by institutional investors.
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Yext Company Profile
Yext Inc is a knowledge engine provider. Yext puts business on the map. The Yext Knowledge Engine enables companies to manage their digital knowledge in the cloud and sync it to over 100 services in the PowerListings Network, including Apple Maps, Bing, Cortana, Facebook, Google, Google Maps, Instagram, Siri and Yelp.
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