Yext $YEXT Shares Sold by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company cut its Yext stake by 98.4% in the first quarter, selling 1.72 million shares and retaining 28,074 shares valued at approximately $108,000.
• Other institutional investors adjusted their positions, with Quantinno Capital Management and Gabelli Funds increasing their holdings. Institutional investors collectively own 70.98% of Yext, while insiders own 7.80%.
• Yext shares opened at $6.03, up 3.2%, with analysts maintaining a consensus “Hold” rating and an average price target of $6.67. Two directors also made significant purchases of Yext shares.

The Manufacturers Life Insurance Company trimmed its holdings in shares of Yext (NYSE:YEXT - Free Report) by 98.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,074 shares of the company's stock after selling 1,719,097 shares during the period. The Manufacturers Life Insurance Company's holdings in Yext were worth $108,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of YEXT. Quantinno Capital Management LP grew its position in shares of Yext by 173.7% during the 1st quarter. Quantinno Capital Management LP now owns 210,094 shares of the company's stock valued at $807,000 after buying an additional 133,347 shares during the last quarter. Gabelli Funds LLC lifted its holdings in Yext by 58.3% in the first quarter. Gabelli Funds LLC now owns 57,000 shares of the company's stock worth $219,000 after acquiring an additional 21,000 shares during the last quarter. Gamco Investors INC. ET AL acquired a new position in Yext in the first quarter valued at approximately $38,000. Arrowstreet Capital Limited Partnership boosted its stake in Yext by 0.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,309,665 shares of the company's stock valued at $5,029,000 after acquiring an additional 6,395 shares during the period. Finally, Sei Investments Co. bought a new position in shares of Yext during the first quarter valued at approximately $79,000. 70.98% of the stock is currently owned by institutional investors.

Insider Activity at Yext

In other Yext news, Director Seth H. Waugh bought 133,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average cost of $3.75 per share, for a total transaction of $498,750.00. Following the transaction, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel J. Englander bought 76,190 shares of the business's stock in a transaction on Monday, July 13th. The shares were acquired at an average cost of $5.22 per share, for a total transaction of $397,711.80. Following the purchase, the director directly owned 141,190 shares in the company, valued at $737,011.80. This represents a 117.22% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 7.80% of the company's stock.

Yext Trading Up 3.2%

Yext stock opened at $6.03 on Wednesday. Yext has a 52-week low of $3.27 and a 52-week high of $9.20. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 6.03. The firm has a market capitalization of $604.01 million, a price-to-earnings ratio of 86.07 and a beta of 1.13. The firm has a 50-day moving average price of $5.03 and a two-hundred day moving average price of $4.70.

Analyst Ratings Changes

A number of analysts have recently weighed in on YEXT shares. Wall Street Zen cut Yext from a "buy" rating to a "hold" rating in a research report on Sunday, May 3rd. Weiss Ratings upgraded Yext from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, June 3rd. Finally, Zacks Research raised Yext from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Yext has an average rating of "Hold" and an average target price of $6.67.

Yext Company 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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