Engineers Gate Manager LP lowered its holdings in shares of Yext Inc (NYSE:YEXT) by 9.9% during the third quarter, HoldingsChannel reports. The firm owned 157,102 shares of the company’s stock after selling 17,222 shares during the period. Engineers Gate Manager LP’s holdings in Yext were worth $3,723,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. BlueMountain Capital Management LLC purchased a new position in shares of Yext in the second quarter valued at approximately $118,000. UBS Group AG lifted its position in shares of Yext by 42.2% in the first quarter. UBS Group AG now owns 17,577 shares of the company’s stock valued at $222,000 after acquiring an additional 5,217 shares in the last quarter. United Services Automobile Association purchased a new position in shares of Yext in the second quarter valued at approximately $223,000. NumerixS Investment Technologies Inc purchased a new position in shares of Yext in the second quarter valued at approximately $228,000. Finally, Amalgamated Bank purchased a new position in shares of Yext in the second quarter valued at approximately $240,000. Institutional investors own 52.83% of the company’s stock.
Shares of Yext stock opened at $19.43 on Monday. Yext Inc has a one year low of $10.58 and a one year high of $27.19. The company has a market cap of $1.92 billion, a P/E ratio of -22.86 and a beta of 1.67.
Yext (NYSE:YEXT) last announced its quarterly earnings data on Thursday, August 30th. The company reported ($0.10) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.01. Yext had a negative return on equity of 91.20% and a negative net margin of 36.92%. The firm had revenue of $55.10 million for the quarter, compared to the consensus estimate of $53.67 million. As a group, analysts forecast that Yext Inc will post -0.79 EPS for the current year.
Several equities analysts have recently weighed in on the company. KeyCorp restated a “hold” rating on shares of Yext in a research report on Thursday, August 30th. Morgan Stanley restated a “hold” rating and issued a $26.00 target price (up previously from $15.00) on shares of Yext in a research report on Tuesday, September 18th. SunTrust Banks assumed coverage on Yext in a research report on Monday, August 13th. They issued a “buy” rating on the stock. Piper Jaffray Companies restated a “buy” rating and issued a $25.00 target price on shares of Yext in a research report on Wednesday, July 25th. Finally, Zacks Investment Research downgraded Yext from a “buy” rating to a “hold” rating in a research report on Wednesday, August 1st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $24.00.
In related news, CEO Howard Lerman sold 30,000 shares of Yext stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $21.46, for a total transaction of $643,800.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Steven Cakebread sold 20,000 shares of Yext stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $26.48, for a total value of $529,600.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 919,394 shares of company stock worth $21,107,641. 20.80% of the stock is currently owned by company insiders.
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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