Yext $YEXT Shares Sold by Renaissance Technologies LLC

Key Points

• Renaissance Technologies cut its Yext stake by 89.5% in the first quarter, selling 366,400 shares and retaining 42,800 shares valued at approximately $164,000.
• Other institutional activity was mixed, while Yext insiders bought shares: directors Seth Waugh and Daniel Englander purchased approximately $896,000 combined. Institutional investors own 70.98% of the company, and insiders own 7.80%.
• Analyst sentiment remains cautious, with Yext carrying a consensus “Hold” rating and a $6.67 average price target. The stock opened at $6.26, with a market capitalization of about $627.6 million.

Renaissance Technologies LLC lessened its position in shares of Yext (NYSE:YEXT - Free Report) by 89.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,800 shares of the company's stock after selling 366,400 shares during the period. Renaissance Technologies LLC's holdings in Yext were worth $164,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Yext by 1.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 420,951 shares of the company's stock valued at $2,593,000 after acquiring an additional 4,802 shares in the last quarter. Millennium Management LLC acquired a new position in Yext in the first quarter worth $3,964,000. Creative Planning acquired a new position in Yext in the second quarter worth $109,000. Rhumbline Advisers increased its stake in Yext by 2.9% during the second quarter. Rhumbline Advisers now owns 160,040 shares of the company's stock valued at $1,360,000 after purchasing an additional 4,444 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Yext by 35.9% during the second quarter. American Century Companies Inc. now owns 222,726 shares of the company's stock valued at $1,893,000 after purchasing an additional 58,859 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Insiders Place Their Bets

In other news, Director Seth H. Waugh purchased 133,000 shares of Yext stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $3.75 per share, with a total value of $498,750.00. Following the completion of the acquisition, the director owned 319,411 shares in the company, valued at $1,197,791.25. The trade was a 71.35% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel J. Englander purchased 76,190 shares of the stock in a transaction dated Monday, July 13th. The shares were purchased at an average price of $5.22 per share, with a total value of $397,711.80. Following the transaction, the director directly owned 141,190 shares of the company's stock, valued at approximately $737,011.80. The trade was a 117.22% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 7.80% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on YEXT shares. Wall Street Zen cut shares of Yext from a "buy" rating to a "hold" rating in a report on Sunday, May 3rd. Zacks Research lowered shares of Yext from a "strong-buy" rating to a "hold" rating in a report on Monday. Finally, Weiss Ratings raised shares of Yext from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Yext currently has a consensus rating of "Hold" and an average price target of $6.67.

Yext Trading Down 0.3%

NYSE:YEXT opened at $6.26 on Friday. The firm has a market capitalization of $627.55 million, a P/E ratio of 89.43 and a beta of 1.13. The business has a 50 day simple moving average of $5.13 and a 200 day simple moving average of $4.68. The company has a debt-to-equity ratio of 6.03, a current ratio of 0.79 and a quick ratio of 0.79. Yext has a 12-month low of $3.27 and a 12-month high of $9.20.

About Yext

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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