Insight Holdings Group LLC Acquires Shares of 7,710,621 Yext Inc. (NYSE:YEXT)
Insight Holdings Group LLC acquired a new stake in Yext Inc. (NYSE:YEXT) during the second quarter, Holdings Channel reports. The firm acquired 7,710,621 shares of the company’s stock, valued at approximately $102,783,000. Yext comprises 25.1% of Insight Holdings Group LLC’s investment portfolio, making the stock its 2nd largest position. Insight Holdings Group LLC owned approximately 0.09% of Yext at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Emerald Mutual Fund Advisers Trust purchased a new stake in Yext during the second quarter valued at $400,000. Kornitzer Capital Management Inc. KS bought a new stake in shares of Yext during the second quarter worth $280,000. Spark Investment Management LLC bought a new stake in shares of Yext during the second quarter worth $1,530,000. Power Corp of Canada bought a new stake in shares of Yext during the second quarter worth $20,889,000. Finally, TD Asset Management Inc. bought a new stake in shares of Yext during the second quarter worth $933,000. 2.02% of the stock is owned by institutional investors.
Shares of Yext Inc. (NYSE:YEXT) opened at 13.59 on Thursday. The firm’s 50-day moving average is $13.28 and its 200 day moving average is $13.43. The company’s market capitalization is $1.22 billion. Yext Inc. has a 12 month low of $11.63 and a 12 month high of $15.11.
Yext (NYSE:YEXT) last released its quarterly earnings data on Thursday, June 1st. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. The business had revenue of $37.10 million during the quarter, compared to the consensus estimate of $35.14 million. The firm’s revenue for the quarter was up 36.9% compared to the same quarter last year. Equities research analysts predict that Yext Inc. will post ($0.51) EPS for the current year.
A number of analysts have commented on the stock. Zacks Investment Research raised shares of Yext from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Morgan Stanley reissued an “equal weight” rating and set a $15.00 price target (up from $14.00) on shares of Yext in a research report on Saturday, June 3rd. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $17.00 price objective on shares of Yext in a research report on Saturday, June 3rd. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Yext in a research report on Friday, June 2nd. Finally, Pacific Crest began coverage on shares of Yext in a research report on Monday, May 15th. They issued a “sector weight” rating on the stock. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Yext currently has a consensus rating of “Hold” and a consensus price target of $16.25.
Yext Inc is a knowledge engine provider. Yext puts business on the map. The Yext Knowledge Engine enables companies to manage their digital knowledge in the cloud and sync it to over 100 services in the PowerListings Network, including Apple Maps, Bing, Cortana, Facebook, Google, Google Maps, Instagram, Siri and Yelp.
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