OP Asset Management Ltd Acquires Shares of 1,019,573 Yext $YEXT

Key Points

• OP Asset Management Ltd initiated a new position in Yext, buying 1,019,573 shares valued at about $3.9 million, giving it roughly 0.83% ownership of the company.
• Yext continues to attract major institutional interest, with hedge funds and other investors holding about 70.98% of the stock. Recent insider activity was mixed, including a sale by CAO Allan Tang and a large purchase by Director Seth H. Waugh.
• The stock rose 7.0% to $4.44, while Yext’s latest earnings beat EPS estimates but missed revenue expectations. Analysts currently rate the stock Hold on average, with a consensus price target of $7.50.

OP Asset Management Ltd bought a new position in shares of Yext (NYSE:YEXT - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,019,573 shares of the company's stock, valued at approximately $3,915,000. OP Asset Management Ltd owned about 0.83% of Yext at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Lynrock Lake LP grew its holdings in shares of Yext by 23.3% in the fourth quarter. Lynrock Lake LP now owns 15,132,384 shares of the company's stock worth $121,967,000 after purchasing an additional 2,861,653 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Yext by 7.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,595,447 shares of the company's stock valued at $47,561,000 after buying an additional 371,253 shares during the period. Hudson Bay Capital Management LP boosted its position in Yext by 126.2% in the 4th quarter. Hudson Bay Capital Management LP now owns 2,952,453 shares of the company's stock valued at $23,797,000 after buying an additional 1,647,174 shares during the period. Geode Capital Management LLC grew its stake in Yext by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 2,602,559 shares of the company's stock worth $20,980,000 after acquiring an additional 23,914 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in Yext by 28.7% in the 4th quarter. Federated Hermes Inc. now owns 1,871,845 shares of the company's stock worth $15,087,000 after acquiring an additional 417,896 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Yext

In other news, CAO Allan Tang sold 10,000 shares of Yext stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $3.62, for a total value of $36,200.00. Following the transaction, the chief accounting officer directly owned 7,848 shares in the company, valued at approximately $28,409.76. This trade represents a 56.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Seth H. Waugh acquired 133,000 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average price of $3.75 per share, with a total value of $498,750.00. Following the completion of the purchase, the director directly owned 319,411 shares in the company, valued at $1,197,791.25. The trade was a 71.35% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 7.80% of the stock is currently owned by company insiders.

Yext Trading Up 7.0%

NYSE:YEXT opened at $4.44 on Friday. The firm has a 50-day simple moving average of $3.89 and a 200-day simple moving average of $5.40. Yext has a one year low of $3.27 and a one year high of $9.20. The firm has a market cap of $445.01 million, a P/E ratio of 63.41 and a beta of 1.16. The company has a debt-to-equity ratio of 6.03, a quick ratio of 0.79 and a current ratio of 0.79.

Yext (NYSE:YEXT - Get Free Report) last released its quarterly earnings data on Tuesday, June 2nd. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.01. The firm had revenue of $107.92 million for the quarter, compared to the consensus estimate of $110.70 million. Yext had a net margin of 8.93% and a return on equity of 43.47%. The company's quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the firm earned $0.13 earnings per share. Equities analysts anticipate that Yext will post 0.41 EPS for the current fiscal year.

Analysts Set New Price Targets

YEXT has been the subject of several research analyst reports. B. Riley Financial decreased their price target on shares of Yext from $10.00 to $8.00 and set a "buy" rating for the company in a research note on Tuesday, March 10th. Wall Street Zen cut Yext from a "buy" rating to a "hold" rating in a research note on Sunday, May 3rd. DA Davidson restated a "neutral" rating and set a $6.00 price objective on shares of Yext in a report on Wednesday, March 11th. Weiss Ratings raised Yext from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, June 3rd. Finally, Roth Mkm cut Yext from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $9.50 to $6.00 in a report on Wednesday, March 11th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $7.50.

Yext Profile

Yext, Inc is a software-as-a-service company that provides a platform for digital knowledge management. Its core offering enables businesses to centrally manage and synchronize public-facing information—such as location details, product descriptions and service offerings—across a network of search engines, mapping services, voice assistants and third-party directories.

The Yext platform is built around a proprietary Knowledge Graph, which stores and structures data to ensure consistency and accuracy.

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