Bank of America Corp DE increased its stake in shares of Yext Inc (NYSE:YEXT) by 134.1% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 108,309 shares of the company’s stock after purchasing an additional 62,047 shares during the period. Bank of America Corp DE owned approximately 0.11% of Yext worth $2,094,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of YEXT. BlackRock Inc. lifted its position in shares of Yext by 297.0% during the 2nd quarter. BlackRock Inc. now owns 5,147,131 shares of the company’s stock worth $99,546,000 after purchasing an additional 3,850,702 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Yext by 2.1% during the 2nd quarter. Janus Henderson Group PLC now owns 1,102,169 shares of the company’s stock worth $21,316,000 after purchasing an additional 23,135 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Yext during the 2nd quarter worth $15,478,000. Spark Investment Management LLC lifted its position in shares of Yext by 387.9% during the 2nd quarter. Spark Investment Management LLC now owns 491,800 shares of the company’s stock worth $9,511,000 after purchasing an additional 391,000 shares during the last quarter. Finally, Pier Capital LLC purchased a new stake in shares of Yext during the 2nd quarter worth $7,515,000. 44.50% of the stock is owned by hedge funds and other institutional investors.
In related news, President Brian Distelburger sold 1,318 shares of Yext stock in a transaction on Friday, September 21st. The shares were sold at an average price of $24.87, for a total transaction of $32,778.66. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Tom Christopher Dixon sold 5,000 shares of Yext stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $18.33, for a total transaction of $91,650.00. The disclosure for this sale can be found here. Insiders have sold a total of 911,894 shares of company stock worth $20,822,566 over the last quarter. 20.80% of the stock is owned by company insiders.
Yext stock opened at $18.87 on Friday. The firm has a market cap of $1.84 billion, a PE ratio of -22.20 and a beta of 1.67. Yext Inc has a 12-month low of $10.58 and a 12-month high of $27.19.
Yext (NYSE:YEXT) last released its quarterly earnings data on Thursday, August 30th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.01. Yext had a negative net margin of 36.92% and a negative return on equity of 91.20%. The business had revenue of $55.10 million during the quarter, compared to analysts’ expectations of $53.67 million. As a group, research analysts anticipate that Yext Inc will post -0.79 earnings per share for the current year.
YEXT has been the subject of several recent analyst reports. DA Davidson initiated coverage on shares of Yext in a research report on Monday, October 8th. They set a “buy” rating and a $28.00 price objective for the company. SunTrust Banks initiated coverage on shares of Yext in a research report on Monday, August 13th. They set a “buy” rating for the company. Morgan Stanley reaffirmed a “hold” rating and set a $26.00 price objective (up from $15.00) on shares of Yext in a research report on Tuesday, September 18th. KeyCorp reaffirmed a “hold” rating on shares of Yext in a research report on Thursday, August 30th. Finally, Zacks Investment Research cut shares of Yext from a “buy” rating to a “hold” rating in a research report on Wednesday, August 1st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $24.00.
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Yext Company Profile
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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