Principal Financial Group Inc. Purchases 120,223 Shares of Yext $YEXT

Principal Financial Group Inc. grew its position in shares of Yext (NYSE:YEXT) by 88.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 255,920 shares of the company’s stock after acquiring an additional 120,223 shares during the period. Principal Financial Group Inc. owned about 0.26% of Yext worth $983,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in YEXT. Lynrock Lake LP lifted its stake in shares of Yext by 23.3% in the 4th quarter. Lynrock Lake LP now owns 15,132,384 shares of the company’s stock valued at $121,967,000 after purchasing an additional 2,861,653 shares during the period. Hudson Bay Capital Management LP grew its stake in Yext by 126.2% in the fourth quarter. Hudson Bay Capital Management LP now owns 2,952,453 shares of the company’s stock worth $23,797,000 after purchasing an additional 1,647,174 shares during the period. OP Asset Management Ltd purchased a new stake in Yext in the first quarter worth $3,915,000. First Trust Advisors LP bought a new position in Yext in the fourth quarter worth $5,634,000. Finally, Millennium Management LLC bought a new position in Yext in the first quarter worth $3,964,000. Institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on YEXT. Weiss Ratings upgraded shares of Yext from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 3rd. Zacks Research raised shares of Yext from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. Finally, Wall Street Zen lowered shares of Yext from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $7.50.

Yext Stock Performance

Yext stock opened at $5.47 on Friday. Yext has a twelve month low of $3.27 and a twelve month high of $9.20. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 6.03. The company has a market capitalization of $548.87 million, a P/E ratio of 78.21 and a beta of 1.14. The stock’s 50 day moving average is $4.59 and its 200 day moving average is $4.87.

Insider Buying and Selling at Yext

In related news, Director Seth H. Waugh bought 133,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were purchased at an average cost of $3.75 per share, with a total value of $498,750.00. Following the completion of the purchase, the director owned 319,411 shares in the company, valued at approximately $1,197,791.25. The trade was a 71.35% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel J. Englander purchased 76,190 shares of Yext stock in a transaction dated Monday, July 13th. The shares were bought at an average price of $5.22 per share, with a total value of $397,711.80. Following the completion of the acquisition, the director directly owned 141,190 shares of the company’s stock, valued at approximately $737,011.80. This represents a 117.22% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 7.80% of the company’s stock.

Yext Company 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.