Vanguard Group Inc. Cuts Stock Holdings in Yext $YEXT

Key Points

• Vanguard Group Inc. reduced its stake in Yext by 2.9%, owning 15,407,365 shares after selling 458,309 shares, representing a value of $94,909,000.
• Several analysts have issued favorable ratings on Yext, with Needham & Company reiterating a "buy" rating and a target price of $10.00, indicating confidence in the company's growth potential.
• Yext's stock recently opened at $8.9650, with a market capitalization of $1.10 billion and a 52-week range between $4.73 and $9.16.

Vanguard Group Inc. cut its stake in Yext (NYSE:YEXT - Free Report) by 2.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,407,365 shares of the company's stock after selling 458,309 shares during the quarter. Vanguard Group Inc. owned about 12.37% of Yext worth $94,909,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. New Age Alpha Advisors LLC purchased a new position in Yext during the 1st quarter worth $43,000. XTX Topco Ltd grew its stake in 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 buying an additional 50,577 shares during the last quarter. Mackenzie Financial Corp grew its stake in Yext by 191.0% during the 1st quarter. Mackenzie Financial Corp now owns 214,070 shares of the company's stock worth $1,319,000 after buying an additional 140,513 shares during the last quarter. Allianz Asset Management GmbH purchased a new position in Yext during the 1st quarter worth $180,000. Finally, Victory Capital Management Inc. grew its stake in 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 buying an additional 60,544 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Yext Stock Performance

Shares of Yext stock traded down $0.01 on Thursday, hitting $9.12. The company's stock had a trading volume of 940,507 shares, compared to its average volume of 1,081,526. Yext has a 1 year low of $4.73 and a 1 year high of $9.20. The firm has a fifty day moving average price of $8.32 and a 200-day moving average price of $7.24. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -50.64 and a beta of 1.06.

Analyst Upgrades and Downgrades

YEXT has been the subject of a number of research reports. DA Davidson lifted their price target on Yext from $7.50 to $8.25 and gave the stock a "neutral" rating in a research report on Thursday, June 5th. Zacks Research cut Yext from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Needham & Company LLC reissued a "buy" rating and issued a $10.00 price objective on shares of Yext in a report on Monday, August 18th. Finally, B. Riley raised Yext from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $7.00 to $10.00 in a report on Wednesday, June 4th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.