Needham Investment Management LLC Has $1.35 Million Stock Position in Yext, Inc. (NYSE:YEXT)

Needham Investment Management LLC lowered its position in Yext, Inc. (NYSE:YEXT) by 27.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 195,000 shares of the company’s stock after selling 75,000 shares during the period. Needham Investment Management LLC’s holdings in Yext were worth $1,349,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Lynrock Lake LP raised its holdings in 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 buying an additional 1,591,791 shares during the period. Federated Hermes Inc. increased its position in shares of Yext by 86.6% during the second quarter. Federated Hermes Inc. now owns 2,748,420 shares of the company’s stock worth $14,704,000 after acquiring an additional 1,275,348 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Yext by 12.5% during the second quarter. The Manufacturers Life Insurance Company now owns 4,734,880 shares of the company’s stock worth $25,332,000 after acquiring an additional 526,043 shares during the period. Marshall Wace LLP lifted its position in Yext by 230.7% in the 2nd quarter. Marshall Wace LLP now owns 367,953 shares of the company’s stock valued at $1,969,000 after acquiring an additional 256,688 shares in the last quarter. Finally, Algert Global LLC boosted its stake in Yext by 410.4% in the 2nd quarter. Algert Global LLC now owns 317,046 shares of the company’s stock worth $1,696,000 after purchasing an additional 254,924 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Yext Trading Down 0.9 %

Shares of YEXT stock opened at $8.38 on Wednesday. The firm’s fifty day moving average price is $7.33 and its two-hundred day moving average price is $6.04. Yext, Inc. has a 1 year low of $4.29 and a 1 year high of $8.58.

Yext (NYSE:YEXT) last released its earnings results on Wednesday, September 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. Yext had a negative return on equity of 3.35% and a negative net margin of 1.68%. The business had revenue of $97.90 million for the quarter, compared to the consensus estimate of $98.15 million. During the same quarter in the previous year, the business earned ($0.03) earnings per share. Yext’s quarterly revenue was down 4.6% on a year-over-year basis. On average, equities research analysts predict that Yext, Inc. will post 0.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

YEXT has been the topic of several recent research reports. Needham & Company LLC raised Yext from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a research note on Thursday, September 5th. DA Davidson increased their price objective on Yext from $5.50 to $5.75 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Finally, Roth Mkm restated a “buy” rating and issued a $7.50 target price (down previously from $8.00) on shares of Yext in a research note on Thursday, September 5th.

Insider Buying and Selling at Yext

In other news, Director Seth H. Waugh purchased 32,600 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was purchased at an average price of $6.65 per share, for a total transaction of $216,790.00. Following the completion of the purchase, the director now directly owns 153,350 shares in the company, valued at $1,019,777.50. The trade was a 27.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.40% of the company’s stock.

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.