Acadian Asset Management LLC Trims Position in Yext $YEXT

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 lessened its stake in shares of Yext (NYSE:YEXT - Free Report) by 24.5% in the first quarter, according to its most recent 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 about 0.49% of Yext worth $3,786,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Northern Trust Corp boosted its stake in Yext by 13.4% in the fourth quarter. Northern Trust Corp now owns 1,053,874 shares of the company's stock worth $6,703,000 after buying an additional 124,688 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in Yext in the fourth quarter valued at approximately $119,000. Bank of America Corp DE lifted its position in Yext by 10.0% in the fourth quarter. Bank of America Corp DE now owns 632,650 shares of the company's stock valued at $4,024,000 after purchasing an additional 57,442 shares during the last quarter. Deutsche Bank AG lifted its position in Yext by 11.0% in the fourth quarter. Deutsche Bank AG now owns 318,644 shares of the company's stock valued at $2,027,000 after purchasing an additional 31,563 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its position in Yext by 71.1% in the fourth quarter. Quantinno Capital Management LP now owns 18,676 shares of the company's stock valued at $119,000 after purchasing an additional 7,758 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Yext Stock Down 0.3%

Shares of YEXT opened at $8.66 on Monday. The business's 50 day moving average is $8.45 and its 200 day moving average is $7.43. The company has a market capitalization of $1.07 billion, a PE ratio of -72.16 and a beta of 1.01. Yext has a 12-month low of $5.51 and a 12-month high of $9.20. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Needham & Company LLC reiterated a "buy" rating and issued a $10.00 price objective on shares of Yext in a research report on Monday, August 18th. B. Riley upgraded Yext from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $7.00 to $10.00 in a report on Wednesday, June 4th. Zacks Research downgraded Yext from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Wall Street Zen raised Yext from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Finally, DA Davidson increased their target price on Yext from $7.50 to $8.25 and gave the stock a "neutral" rating in a research note on Thursday, June 5th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $9.44.

Yext Company 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.

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