Massachusetts Financial Services Co. MA Has $2.02 Million Stake in Yext, Inc. (NYSE:YEXT)

Massachusetts Financial Services Co. MA lessened its holdings in shares of Yext, Inc. (NYSE:YEXT) by 2.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 292,092 shares of the company’s stock after selling 7,075 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.23% of Yext worth $2,021,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. boosted its position in Yext by 652.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 340,958 shares of the company’s stock valued at $2,056,000 after purchasing an additional 295,658 shares during the last quarter. Lynrock Lake LP raised its stake in shares of Yext by 23.8% during the 2nd quarter. Lynrock Lake LP now owns 8,267,487 shares of the company’s stock worth $44,231,000 after purchasing an additional 1,591,791 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Yext by 86.6% during the 2nd quarter. Federated Hermes Inc. now owns 2,748,420 shares of the company’s stock worth $14,704,000 after purchasing an additional 1,275,348 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Yext by 12.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,734,880 shares of the company’s stock valued at $25,332,000 after buying an additional 526,043 shares during the last quarter. Finally, King Luther Capital Management Corp acquired a new position in Yext during the second quarter worth $936,000. Institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling

In other Yext news, Director Seth H. Waugh acquired 32,600 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was acquired at an average price of $6.65 per share, for a total transaction of $216,790.00. Following the purchase, the director now directly owns 153,350 shares of the company’s stock, valued at $1,019,777.50. This trade represents a 27.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on YEXT. Roth Mkm reiterated a “buy” rating and issued a $7.50 price target (down previously from $8.00) on shares of Yext in a research note on Thursday, September 5th. DA Davidson lifted their price target on Yext from $5.50 to $5.75 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Finally, Needham & Company LLC upgraded Yext from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a research note on Thursday, September 5th.

Yext Price Performance

Shares of YEXT opened at $8.33 on Thursday. The company’s 50-day moving average is $7.18 and its 200-day moving average is $5.96. The firm has a market capitalization of $1.07 billion, a PE ratio of -166.20 and a beta of 1.17. Yext, Inc. has a fifty-two week low of $4.29 and a fifty-two week high of $8.58.

Yext (NYSE:YEXT) last issued its quarterly earnings data on Wednesday, September 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. Yext had a negative net margin of 1.68% and a negative return on equity of 3.35%. The firm had revenue of $97.90 million during the quarter, compared to the consensus estimate of $98.15 million. During the same period last year, the business posted ($0.03) earnings per share. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. Analysts predict that Yext, Inc. will post 0.08 earnings per share for the current fiscal year.

Yext Profile

Yext, Inc organizes business facts to provide answers to consumer questions in North America and internationally. It operates Yext platform, a cloud-based platform that allows its customers to offer answers to consumer questions, to control the facts about their businesses and the content of their landing pages, and to manage their consumer reviews; and provides customers to update their information and content through its publisher network of maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories, and social networks, as well as professional services.