The Manufacturers Life Insurance Company Buys 526,043 Shares of Yext, Inc. (NYSE:YEXT)

The Manufacturers Life Insurance Company raised its stake in Yext, Inc. (NYSE:YEXT) by 12.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,734,880 shares of the company’s stock after purchasing an additional 526,043 shares during the period. The Manufacturers Life Insurance Company’s holdings in Yext were worth $25,332,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in YEXT. Williams & Novak LLC bought a new position in shares of Yext in the 2nd quarter worth $56,000. Canada Pension Plan Investment Board bought a new stake in shares of Yext during the second quarter worth about $62,000. Dynamic Advisor Solutions LLC lifted its position in Yext by 27.8% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 15,545 shares of the company’s stock valued at $83,000 after acquiring an additional 3,385 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in Yext by 36.2% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 18,618 shares of the company’s stock valued at $100,000 after purchasing an additional 4,946 shares during the last quarter. Finally, Dark Forest Capital Management LP purchased a new stake in shares of Yext in the second quarter worth approximately $125,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on YEXT. DA Davidson lifted their target price on Yext from $5.50 to $5.75 and gave the company a “neutral” rating in a research report on Thursday, September 5th. Roth Mkm reaffirmed a “buy” rating and set a $7.50 price objective (down from $8.00) on shares of Yext in a report on Thursday, September 5th. Finally, Needham & Company LLC upgraded shares of Yext from a “hold” rating to a “buy” rating and set a $8.00 target price for the company 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 company’s stock in a transaction dated Thursday, September 19th. The shares were purchased at an average price of $6.65 per share, with a total value of $216,790.00. Following the transaction, the director now directly owns 153,350 shares of the company’s stock, valued at $1,019,777.50. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 8.40% of the stock is owned by corporate insiders.

Yext Stock Down 2.3 %

YEXT stock opened at $6.76 on Wednesday. The business has a 50 day moving average of $5.68 and a 200-day moving average of $5.51. The firm has a market cap of $852.70 million, a PE ratio of -135.20 and a beta of 1.17. Yext, Inc. has a 12-month low of $4.29 and a 12-month high of $7.53.

Yext (NYSE:YEXT) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $97.90 million during the quarter, compared to the consensus estimate of $98.15 million. During the same quarter last year, the company posted ($0.03) earnings per share. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. On average, research analysts expect that Yext, Inc. will post 0.08 earnings per share for the current year.

Yext Company 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.