Exchange Traded Concepts LLC Grows Position in Yext, Inc. (NYSE:YEXT)


Exchange Traded Concepts LLC grew its stake in shares of Yext, Inc. (NYSE:YEXT) by 164.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,696 shares of the company’s stock after buying an additional 7,904 shares during the period. Exchange Traded Concepts LLC’s holdings in Yext were worth $200,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in shares of Yext by 25.1% during the second quarter. FMR LLC now owns 5,269,645 shares of the company’s stock worth $87,528,000 after purchasing an additional 1,058,394 shares during the last quarter. Bank of America Corp DE boosted its holdings in Yext by 6.6% in the second quarter. Bank of America Corp DE now owns 216,401 shares of the company’s stock valued at $3,595,000 after acquiring an additional 13,462 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Yext by 10.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 657,894 shares of the company’s stock valued at $10,928,000 after acquiring an additional 64,893 shares during the last quarter. Handelsbanken Fonder AB acquired a new position in Yext in the second quarter valued at $179,000. Finally, Principal Financial Group Inc. acquired a new position in Yext in the second quarter valued at $277,000. 70.61% of the stock is owned by institutional investors.

Shares of Yext stock opened at $16.77 on Wednesday. The firm has a market cap of $2.05 billion, a P/E ratio of -15.11 and a beta of 1.68. Yext, Inc. has a fifty-two week low of $8.56 and a fifty-two week high of $20.90. The business has a 50-day moving average price of $16.28 and a 200 day moving average price of $16.91.

Yext (NYSE:YEXT) last announced its quarterly earnings data on Wednesday, December 2nd. The company reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.06. Yext had a negative return on equity of 63.74% and a negative net margin of 38.54%. The firm had revenue of $89.06 million during the quarter, compared to analyst estimates of $87.22 million. During the same period in the previous year, the company earned ($0.19) earnings per share. Yext’s quarterly revenue was up 16.6% on a year-over-year basis. On average, equities analysts anticipate that Yext, Inc. will post -0.89 EPS for the current year.

YEXT has been the topic of a number of research analyst reports. Oppenheimer reiterated a “buy” rating and issued a $21.00 target price on shares of Yext in a report on Wednesday, October 14th. Zacks Investment Research raised Yext from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research report on Wednesday, December 9th. Finally, DA Davidson cut their price objective on Yext from $22.00 to $20.50 and set a “buy” rating on the stock in a research report on Friday, December 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company’s stock. Yext has a consensus rating of “Buy” and a consensus price target of $19.61.

In other news, COO Brian Distelburger sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 15th. The stock was sold at an average price of $15.03, for a total transaction of $150,300.00. Following the completion of the transaction, the chief operating officer now directly owns 3,337,137 shares in the company, valued at $50,157,169.11. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Darryl Bond sold 3,049 shares of the business’s stock in a transaction that occurred on Tuesday, December 22nd. The stock was sold at an average price of $17.01, for a total value of $51,863.49. Following the transaction, the chief accounting officer now owns 32,308 shares of the company’s stock, valued at $549,559.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 224,442 shares of company stock valued at $3,699,730. 14.20% of the stock is currently owned by insiders.

About Yext

Yext, Inc, a search experience cloud company, engages in delivering brand-verified answers that puts businesses in control of their facts online. Its Yext platform lets businesses structure the facts about their brands in a database called a Knowledge Graph. The Yext platform leverages the structured data stored in the Knowledge Graph to power direct answers on a business’ own website, as well as across its Knowledge Network of approximately 175 third-party maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories, and social networks.

Further Reading: Percentage Decliners

Institutional Ownership by Quarter for Yext (NYSE:YEXT)



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Della C. Mae

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