Yext $YEXT Shares Sold by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC has reduced its stake in Yext by 24.5%, owning 614,853 shares worth approximately $3.79 million after selling nearly 200,000 shares in the first quarter.
• Yext's average stock ratings indicate a Moderate Buy consensus, with several analysts setting a target price of up to $10.00 per share as of recent evaluations.
• Despite the institutional sell-off, other investors like Northern Trust Corp and Bank of America Corp DE have increased their holdings in Yext, suggesting continued interest in the company.

Acadian Asset Management LLC reduced its position in shares of Yext (NYSE:YEXT - Free Report) by 24.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 614,853 shares of the company's stock after selling 199,846 shares during the quarter. Acadian Asset Management LLC owned 0.49% of Yext worth $3,786,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company boosted its stake in shares of Yext by 13.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 5,224,194 shares of the company's stock worth $32,181,000 after acquiring an additional 614,960 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Yext by 10.0% during the 4th quarter. Bank of America Corp DE now owns 632,650 shares of the company's stock worth $4,024,000 after acquiring an additional 57,442 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Yext by 21.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,034,100 shares of the company's stock worth $6,370,000 after acquiring an additional 185,116 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Yext by 88.2% during the 1st quarter. Victory Capital Management Inc. now owns 129,163 shares of the company's stock worth $796,000 after acquiring an additional 60,544 shares in the last quarter. Finally, XTX Topco Ltd boosted its stake in shares of Yext by 74.1% during the 1st quarter. XTX Topco Ltd now owns 118,787 shares of the company's stock worth $732,000 after acquiring an additional 50,577 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Yext Price Performance

YEXT traded down $0.18 during trading on Friday, reaching $8.82. The company's stock had a trading volume of 1,584,171 shares, compared to its average volume of 1,179,352. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. The firm has a fifty day simple moving average of $8.51 and a two-hundred day simple moving average of $7.49. Yext has a 1 year low of $5.51 and a 1 year high of $9.20. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -73.45 and a beta of 1.01.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on YEXT shares. Zacks Research lowered shares of Yext from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. Wall Street Zen raised shares of Yext from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 13th. B. Riley upgraded shares of Yext from a "neutral" rating to a "buy" rating and upped their price target for the stock from $7.00 to $10.00 in a research report on Wednesday, June 4th. Needham & Company LLC restated a "buy" rating and set a $10.00 price target on shares of Yext in a research report on Monday, August 18th. Finally, DA Davidson upped their price target on shares of Yext from $7.50 to $8.25 and gave the stock a "neutral" rating in a research report on Thursday, June 5th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $9.44.

Yext Profile

Yext, Inc organizes business facts to provide answers to consumer questions in North America and internationally. It operates Yext platform, a cloud-based platform that allows its customers to offer answers to consumer questions, to control the facts about their businesses and the content of their landing pages, and to manage their consumer reviews; and provides customers to update their information and content through its publisher network of maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories, and social networks, as well as professional services.