Cubist Systematic Strategies LLC Invests $794,000 in Yext $YEXT

Key Points

• Cubist Systematic Strategies LLC acquired a new stake in Yext, purchasing 128,926 shares valued at approximately $794,000 during the first quarter.
• Yext has seen significant interest from institutional investors, with over 70.98% of its stock now owned by hedge funds and other institutional entities.
• Yext's stock performance shows a market capitalization of $1.06 billion, with a recent trading range between a 12-month low of $5.51 and a high of $9.20.

Cubist Systematic Strategies LLC purchased a new position in shares of Yext (NYSE:YEXT - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 128,926 shares of the company's stock, valued at approximately $794,000. Cubist Systematic Strategies LLC owned approximately 0.10% of Yext at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in Yext by 15.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 62,770 shares of the company's stock worth $400,000 after purchasing an additional 8,431 shares in the last quarter. Northern Trust Corp lifted its holdings in Yext by 13.4% in the 4th 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 during the period. Ameriprise Financial Inc. purchased a new position in shares of Yext in the 4th quarter valued at approximately $119,000. Bank of America Corp DE lifted its stake in shares of Yext by 10.0% in the 4th 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 period. Finally, Deutsche Bank AG raised its stake in Yext by 11.0% during the fourth quarter. Deutsche Bank AG now owns 318,644 shares of the company's stock valued at $2,027,000 after buying an additional 31,563 shares during the last quarter. Institutional investors own 70.98% of the company's stock.

Wall Street Analyst Weigh In

YEXT has been the subject of several research analyst reports. B. Riley raised Yext from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $7.00 to $10.00 in a report on Wednesday, June 4th. DA Davidson boosted their price objective on Yext from $7.50 to $8.25 and gave the stock a "neutral" rating in a research note on Thursday, June 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $10.00 target price on shares of Yext in a research note on Monday, August 18th. Zacks Research cut Yext from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. Finally, Wall Street Zen upgraded Yext from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Yext currently has an average rating of "Moderate Buy" and an average target price of $9.44.

Yext Stock Performance

NYSE YEXT traded up $0.06 during trading hours on Monday, hitting $8.71. 1,420,075 shares of the stock were exchanged, compared to its average volume of 1,326,994. Yext has a 12-month low of $5.51 and a 12-month high of $9.20. 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 company has a market cap of $1.07 billion, a price-to-earnings ratio of -72.58 and a beta of 1.01. The stock has a 50-day moving average of $8.46 and a 200 day moving average of $7.44.

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.