Tocqueville Asset Management L.P. Purchases New Stake in Yext $YEXT

Tocqueville Asset Management L.P. purchased a new position in shares of Yext (NYSE:YEXT) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 135,000 shares of the company’s stock, valued at approximately $630,000.

A number of other institutional investors and hedge funds have also modified their holdings of YEXT. BlackRock Inc. acquired a new stake in Yext during the 2nd quarter worth $34,536,000. Lynrock Lake LP raised its position in shares of Yext by 23.3% during the 4th quarter. Lynrock Lake LP now owns 15,132,384 shares of the company’s stock valued at $121,967,000 after acquiring an additional 2,861,653 shares during the last quarter. Hudson Bay Capital Management LP lifted its stake in shares of Yext by 126.2% in the 4th quarter. Hudson Bay Capital Management LP now owns 2,952,453 shares of the company’s stock valued at $23,797,000 after purchasing an additional 1,647,174 shares during the period. OP Asset Management Ltd acquired a new position in shares of Yext in the 1st quarter valued at $3,915,000. Finally, First Trust Advisors LP bought a new position in shares of Yext in the 4th quarter worth $5,634,000. 70.98% of the stock is owned by institutional investors.

Yext Stock Up 1.9%

YEXT stock opened at $6.36 on Friday. The company has a debt-to-equity ratio of 6.03, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market capitalization of $637.59 million, a P/E ratio of 90.86 and a beta of 1.13. The business has a 50-day moving average of $5.17 and a 200-day moving average of $4.69. Yext has a fifty-two week low of $3.27 and a fifty-two week high of $9.20.

Wall Street Analysts Forecast Growth

YEXT has been the subject of a number of analyst reports. Zacks Research cut Yext from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. Wall Street Zen cut shares of Yext from a “buy” rating to a “hold” rating in a report on Sunday, May 3rd. Finally, Weiss Ratings upgraded shares of Yext from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 3rd. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $6.67.

Insider Buying and Selling at Yext

In related news, Director Seth H. Waugh bought 133,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average price of $3.75 per share, with a total value of $498,750.00. Following the completion of the transaction, the director 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel J. Englander purchased 76,190 shares of the stock in a transaction on Monday, July 13th. The shares were bought at an average cost of $5.22 per share, for a total transaction of $397,711.80. Following the transaction, the director directly owned 141,190 shares in the company, valued at approximately $737,011.80. The trade was a 117.22% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 7.80% of the stock is currently owned by insiders.

Yext 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.