Yext $YEXT Shares Acquired by Lynrock Lake LP

Key Points

• Lynrock Lake LP increased its stake in Yext by 9.5% during the first quarter, now holding approximately 11.68 million shares valued at $71.95 million, making Yext the firm’s fifth largest position.
• Analysts have mixed views on Yext, with DA Davidson raising their target price to $8.25 while Zacks downgraded the stock from "strong-buy" to "hold"; the overall consensus rating is "Moderate Buy" with an average target price of $9.44.
• Yext’s stock opened at $9.10 and has a market capitalization of $1.11 billion, reflecting a strong performance as its price fluctuated between a one-year low of $4.73 and a high of $9.20.

Lynrock Lake LP boosted its holdings in Yext (NYSE:YEXT - Free Report) by 9.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,680,363 shares of the company's stock after purchasing an additional 1,009,285 shares during the period. Yext comprises about 6.9% of Lynrock Lake LP's portfolio, making the stock its 5th largest holding. Lynrock Lake LP owned 9.37% of Yext worth $71,951,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in YEXT. Wells Fargo & Company MN grew its position in Yext by 46.2% in the fourth quarter. Wells Fargo & Company MN now owns 58,968 shares of the company's stock valued at $375,000 after purchasing an additional 18,642 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Yext by 22.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,469,605 shares of the company's stock valued at $9,346,000 after purchasing an additional 273,498 shares in the last quarter. MetLife Investment Management LLC grew its position in Yext by 10.7% in the fourth quarter. MetLife Investment Management LLC now owns 63,967 shares of the company's stock valued at $407,000 after purchasing an additional 6,193 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Yext by 15.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 62,770 shares of the company's stock valued at $400,000 after purchasing an additional 8,431 shares in the last quarter. Finally, Northern Trust Corp lifted 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 valued at $6,703,000 after acquiring an additional 124,688 shares during the last quarter. Institutional investors own 70.98% of the company's stock.

Yext Stock Down 1.1%

Shares of NYSE YEXT traded down $0.10 during mid-day trading on Thursday, reaching $9.06. 838,621 shares of the company were exchanged, compared to its average volume of 1,130,202. The company's 50-day simple moving average is $8.41 and its 200-day simple moving average is $7.32. The stock has a market capitalization of $1.11 billion, a P/E ratio of -50.34 and a beta of 1.01. Yext has a twelve month low of $5.25 and a twelve month high of $9.20.

Analysts Set New Price Targets

A number of brokerages have commented on YEXT. DA Davidson increased their price target on shares of Yext from $7.50 to $8.25 and gave the company a "neutral" rating in a research note on Thursday, June 5th. B. Riley upgraded shares of Yext from a "neutral" rating to a "buy" rating and increased their price target for the company from $7.00 to $10.00 in a research note on Wednesday, June 4th. Zacks Research cut shares of Yext from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. Needham & Company LLC reiterated a "buy" rating and issued a $10.00 price target on shares of Yext in a research note on Monday, August 18th. Finally, Wall Street Zen cut shares of Yext from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 30th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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.