Yext (YEXT) Shares Up 6.5%
Yext Inc (NYSE:YEXT) shot up 6.5% during trading on Friday . The company traded as high as $27.19 and last traded at $26.85. 1,419,672 shares were traded during mid-day trading, an increase of 45% from the average session volume of 978,358 shares. The stock had previously closed at $25.22.
YEXT has been the topic of several analyst reports. Piper Jaffray Companies reaffirmed a “buy” rating and set a $25.00 target price on shares of Yext in a research report on Wednesday, July 25th. Zacks Investment Research cut Yext from a “buy” rating to a “hold” rating in a research report on Friday, July 20th. KeyCorp lifted their target price on Yext from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, May 31st. Morgan Stanley lifted their target price on Yext from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Friday, June 1st. Finally, SunTrust Banks initiated coverage on Yext in a research report on Monday, August 13th. They set a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $19.00.
The stock has a market cap of $2.47 billion, a PE ratio of -30.72 and a beta of 0.74.
In related news, President Brian Distelburger sold 8,160 shares of Yext stock in a transaction on Wednesday, June 13th. The stock was sold at an average price of $18.49, for a total transaction of $150,878.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Steven Cakebread sold 20,000 shares of Yext stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $26.48, for a total value of $529,600.00. The disclosure for this sale can be found here. Insiders have sold 1,055,277 shares of company stock worth $22,105,647 over the last quarter. 20.80% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. BlueMountain Capital Management LLC bought a new stake in Yext during the second quarter worth $118,000. United Services Automobile Association bought a new stake in Yext during the second quarter worth $223,000. NumerixS Investment Technologies Inc bought a new stake in Yext during the second quarter worth $228,000. Amalgamated Bank bought a new stake in Yext during the second quarter worth $240,000. Finally, Legal & General Group Plc lifted its holdings in Yext by 212.6% during the second quarter. Legal & General Group Plc now owns 12,970 shares of the company’s stock worth $251,000 after acquiring an additional 8,821 shares during the period. Institutional investors and hedge funds own 53.55% of the company’s stock.
About Yext (NYSE:YEXT)
Yext, Inc provides a knowledge engine platform that lets businesses manage their digital knowledge in the cloud in North America and Europe. The company offers Yext Knowledge Engine, a cloud-based global platform that enables businesses to control and manage their digital knowledge and make it available through its PowerListings Network of approximately 150 third-party maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories, and social networks.
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