719,233 Shares of Yext $YEXT Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 719,233 Yext shares worth approximately $3.36 million, giving it a 0.72% stake. Institutional investors collectively owned 70.98% of the company at the latest reporting date.
• Yext insiders showed mixed activity: Director Daniel J. Englander bought 76,190 shares, while General Counsel Ho Shin sold 30,000 shares. Company insiders own 7.80% of the stock.
• Analyst sentiment remains cautious, with Yext carrying an average “Hold” rating and a $6.33 price target. The stock opened at $6.49, while the company’s latest earnings beat estimates despite a 1.8% year-over-year revenue decline.

Bank of America Corp DE bought a new stake in Yext (NYSE:YEXT - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 719,233 shares of the company's stock, valued at approximately $3,359,000. Bank of America Corp DE owned 0.72% of Yext at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Clearstead Advisors LLC increased its position in shares of Yext by 147.1% during the fourth quarter. Clearstead Advisors LLC now owns 4,677 shares of the company's stock worth $38,000 after acquiring an additional 2,784 shares in the last quarter. Legal & General Group Plc bought a new position in Yext in the 2nd quarter valued at about $39,000. New York State Teachers Retirement System boosted its stake in Yext by 9,253.0% during the 1st quarter. New York State Teachers Retirement System now owns 9,353 shares of the company's stock valued at $36,000 after purchasing an additional 9,253 shares during the last quarter. Gamco Investors INC. ET AL bought a new stake in Yext during the 1st quarter worth approximately $38,000. Finally, Able Wealth Management LLC bought a new stake in Yext during the 1st quarter worth approximately $48,000. Institutional investors own 70.98% of the company's stock.

Insider Activity at Yext

In other news, Director Daniel J. Englander purchased 76,190 shares of the business's stock in a transaction on Monday, July 13th. The shares were acquired at an average price of $5.22 per share, with a total value of $397,711.80. Following the acquisition, the director directly owned 141,190 shares in the company, valued at approximately $737,011.80. The trade was a 117.22% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Ho Shin sold 30,000 shares of the business's stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $6.39, for a total transaction of $191,700.00. Following the completion of the transaction, the general counsel owned 289,269 shares in the company, valued at $1,848,428.91. The trade was a 9.40% decrease in their position. The SEC filing for this sale provides additional information. 7.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on YEXT shares. Weiss Ratings upgraded shares of Yext from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, September 14th. Wall Street Zen upgraded Yext from a "hold" rating to a "strong-buy" rating in a research note on Saturday, September 5th. B. Riley Financial reaffirmed a "neutral" rating on shares of Yext in a report on Wednesday, September 2nd. Finally, Zacks Research lowered shares of Yext from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 17th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $6.33.

Yext Stock Up 0.9%

YEXT opened at $6.49 on Wednesday. The stock has a market cap of $641.88 million, a PE ratio of 38.15 and a beta of 1.15. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 4.14. Yext has a 52 week low of $3.27 and a 52 week high of $9.03. The business's fifty day simple moving average is $6.12 and its 200 day simple moving average is $4.88.

Yext (NYSE:YEXT - Get Free Report) last issued its earnings results on Tuesday, September 1st. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.04. The business had revenue of $111.10 million during the quarter, compared to analyst estimates of $111.30 million. Yext had a return on equity of 43.23% and a net margin of 5.90%.Yext's revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.13 earnings per share. As a group, research analysts expect that Yext will post 0.46 earnings per share for the current fiscal year.

Yext Profile

Yext, Inc NYSE: YEXT provides a digital experience platform that helps organizations manage and improve the information customers encounter across websites, search engines, maps, social networks and other digital services. Its technology is designed to help businesses deliver accurate, consistent and discoverable information across multiple online channels.

The company's platform is built around a centralized knowledge base and includes tools for digital listings, website content, site search, reviews, analytics and customer engagement.

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