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

Needham Investment Management LLC cut its position in Yext, Inc. (NYSE:YEXT - Free Report) by 27.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 195,000 shares of the company's stock after selling 75,000 shares during the quarter. Needham Investment Management LLC owned 0.15% of Yext worth $1,349,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of YEXT. Lynrock Lake LP boosted its position in shares of Yext by 23.8% in the 2nd quarter. Lynrock Lake LP now owns 8,267,487 shares of the company's stock valued at $44,231,000 after purchasing an additional 1,591,791 shares during the period. Federated Hermes Inc. boosted its position in shares of Yext by 86.6% in the 2nd quarter. Federated Hermes Inc. now owns 2,748,420 shares of the company's stock valued at $14,704,000 after purchasing an additional 1,275,348 shares during the period. The Manufacturers Life Insurance Company boosted its position 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 purchasing an additional 526,043 shares during the period. King Luther Capital Management Corp acquired a new stake in shares of Yext in the 2nd quarter valued at about $936,000. Finally, Algert Global LLC boosted its position in shares of Yext by 410.4% in the 2nd quarter. Algert Global LLC now owns 317,046 shares of the company's stock valued at $1,696,000 after purchasing an additional 254,924 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Yext

In other Yext news, Director Seth H. Waugh purchased 32,600 shares of the company's stock in a transaction that occurred on Thursday, September 19th. The stock was purchased at an average price of $6.65 per share, with a total value of $216,790.00. Following the completion of the transaction, the director now directly owns 153,350 shares of the company's stock, valued at approximately $1,019,777.50. This trade represents a 27.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.40% of the company's stock.

Analysts Set New Price Targets

YEXT has been the subject of a number of analyst reports. Roth Mkm reissued a "buy" rating and set a $7.50 target price (down from $8.00) on shares of Yext in a research note on Thursday, September 5th. DA Davidson increased their target price on Yext from $5.50 to $5.75 and gave the stock a "neutral" rating in a research note on Thursday, September 5th. Finally, Needham & Company LLC raised 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.

Yext Price Performance

NYSE:YEXT traded up $0.17 during mid-day trading on Wednesday, reaching $8.55. The stock had a trading volume of 508,812 shares, compared to its average volume of 857,069. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -171.00 and a beta of 1.20. Yext, Inc. has a 1-year low of $4.29 and a 1-year high of $8.59. The stock's 50 day simple moving average is $7.37 and its two-hundred day simple moving average is $6.06.

Yext (NYSE:YEXT - Get Free Report) 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. The business had revenue of $97.90 million during the quarter, compared to the consensus estimate of $98.15 million. Yext had a negative return on equity of 3.35% and a negative net margin of 1.68%. The business's revenue was down 4.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.03) earnings per share. Sell-side analysts anticipate that Yext, Inc. will post 0.08 EPS 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.