abrdn plc Raises Stock Position in Yandex (NASDAQ:YNDX)

abrdn plc grew its holdings in Yandex (NASDAQ:YNDX) by 1.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,006,486 shares of the information services provider’s stock after buying an additional 33,201 shares during the period. abrdn plc owned approximately 0.57% of Yandex worth $141,960,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC lifted its holdings in shares of Yandex by 122.2% in the 1st quarter. Krane Funds Advisors LLC now owns 45,233 shares of the information services provider’s stock worth $2,898,000 after acquiring an additional 24,878 shares during the last quarter. Pitcairn Co. lifted its holdings in shares of Yandex by 16.0% in the 1st quarter. Pitcairn Co. now owns 5,556 shares of the information services provider’s stock worth $356,000 after acquiring an additional 767 shares during the last quarter. Polen Capital Management LLC bought a new stake in shares of Yandex in the 1st quarter worth about $2,006,000. Millennium Management LLC lifted its holdings in shares of Yandex by 57.3% in the 1st quarter. Millennium Management LLC now owns 51,143 shares of the information services provider’s stock worth $3,276,000 after acquiring an additional 18,629 shares during the last quarter. Finally, Steel Peak Wealth Management LLC bought a new stake in shares of Yandex in the 1st quarter worth about $404,000. Hedge funds and other institutional investors own 66.68% of the company’s stock.

Shares of Yandex stock traded down $0.20 on Wednesday, reaching $81.67. The stock had a trading volume of 23,774 shares, compared to its average volume of 1,539,847. The company has a 50 day moving average price of $71.40 and a 200 day moving average price of $67.73. The company has a quick ratio of 3.22, a current ratio of 3.30 and a debt-to-equity ratio of 0.24. Yandex has a 1 year low of $55.62 and a 1 year high of $82.20. The stock has a market capitalization of $28.93 billion, a P/E ratio of 161.18, a P/E/G ratio of 15.10 and a beta of 1.35.

YNDX has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Yandex from a “strong sell” rating to a “hold” rating and set a $74.00 target price for the company in a report on Tuesday, June 15th. Morgan Stanley reiterated a “buy” rating and set a $75.00 price objective on shares of Yandex in a report on Friday, July 23rd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Yandex presently has an average rating of “Buy” and an average target price of $72.71.

Yandex Company Profile

Yandex NV engages in the provision of search engines and online services. It operates through the following segments: Search and Portal; Yandex Market; Taxi; Media Services; Classifieds; and Other Bets and Experiments. The Search and Portal segment includes all the services offered in Russia, Belarus, and Kazakhstan.

Further Reading: Equity Income

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Institutional Ownership by Quarter for Yandex (NASDAQ:YNDX)

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