Yext (YEXT) Stock Price Down 5.2% After Insider Selling

Yext Inc (NYSE:YEXT)’s share price dropped 5.2% on Monday following insider selling activity. The stock traded as low as $17.68 and last traded at $17.89. Approximately 729,999 shares changed hands during trading, a decline of 27% from the average daily volume of 1,001,898 shares. The stock had previously closed at $18.87.

Specifically, CEO Howard Lerman sold 30,000 shares of the firm’s stock in a transaction on Friday, September 7th. The shares were sold at an average price of $26.62, for a total value of $798,600.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Steven Cakebread sold 20,000 shares of the firm’s stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $19.74, for a total transaction of $394,800.00. The disclosure for this sale can be found here. Insiders sold a total of 909,894 shares of company stock worth $20,777,086 over the last quarter. 20.80% of the stock is currently owned by company insiders.

YEXT has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Yext from a “buy” rating to a “hold” rating in a research note on Friday, July 20th. Piper Jaffray Companies reissued a “buy” rating and issued a $25.00 price target on shares of Yext in a report on Wednesday, July 25th. SunTrust Banks began coverage on shares of Yext in a report on Monday, August 13th. They issued a “buy” rating for the company. KeyCorp reissued a “hold” rating on shares of Yext in a report on Thursday, August 30th. Finally, Morgan Stanley reissued a “hold” rating and issued a $26.00 price target (up from $15.00) on shares of Yext in a report on Tuesday, September 18th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Yext currently has a consensus rating of “Buy” and a consensus target price of $24.00.

The firm has a market cap of $1.86 billion, a price-to-earnings ratio of -21.05 and a beta of 1.67.

Yext (NYSE:YEXT) last issued its quarterly earnings results on Thursday, August 30th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. Yext had a negative net margin of 36.92% and a negative return on equity of 91.20%. The firm had revenue of $55.10 million during the quarter, compared to the consensus estimate of $53.67 million. On average, analysts predict that Yext Inc will post -0.79 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its holdings in Yext by 1.5% in the 3rd quarter. BlackRock Inc. now owns 5,222,295 shares of the company’s stock valued at $123,769,000 after purchasing an additional 75,164 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Yext by 2.1% during the 2nd quarter. Janus Henderson Group PLC now owns 1,102,169 shares of the company’s stock worth $21,316,000 after acquiring an additional 23,135 shares during the period. Northern Trust Corp lifted its holdings in shares of Yext by 279.7% during the 2nd quarter. Northern Trust Corp now owns 914,499 shares of the company’s stock worth $17,686,000 after acquiring an additional 673,620 shares during the period. Renaissance Technologies LLC bought a new position in shares of Yext during the 2nd quarter worth about $15,478,000. Finally, Spark Investment Management LLC lifted its holdings in shares of Yext by 387.9% during the 2nd quarter. Spark Investment Management LLC now owns 491,800 shares of the company’s stock worth $9,511,000 after acquiring an additional 391,000 shares during the period. 44.50% of the stock is owned by hedge funds and other institutional investors.

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Yext Company Profile (NYSE:YEXT)

Yext, Inc provides a knowledge engine platform that lets businesses manage their digital knowledge in the cloud in North America and Europe. The company offers Yext Knowledge Engine, a cloud-based global platform that enables businesses to control and manage their digital knowledge and make it available through its PowerListings Network of approximately 150 third-party maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories, and social networks.

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