Yext (YEXT) Shares Down 7.9% on Insider Selling

Yext Inc (NYSE:YEXT) was down 7.9% during trading on Friday after an insider sold shares in the company. The stock traded as low as $18.02 and last traded at $18.18. Approximately 1,082,229 shares traded hands during mid-day trading, an increase of 6% from the average daily volume of 1,018,346 shares. The stock had previously closed at $19.73.

Specifically, President Brian Distelburger sold 1,318 shares of Yext stock in a transaction on Friday, September 21st. The shares were sold at an average price of $24.87, for a total transaction of $32,778.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Howard Lerman sold 63,294 shares of Yext stock in a transaction on Friday, September 21st. The stock was sold at an average price of $25.04, for a total transaction of $1,584,881.76. The disclosure for this sale can be found here. In the last three months, insiders sold 896,894 shares of company stock valued at $20,943,816. 20.80% of the stock is currently owned by company insiders.

A number of analysts have commented on YEXT shares. Piper Jaffray Companies reaffirmed a “buy” rating and set a $25.00 target price on shares of Yext in a report on Wednesday, July 25th. SunTrust Banks started coverage on shares of Yext in a report on Monday, August 13th. They set a “buy” rating for the company. DA Davidson started coverage on shares of Yext in a report on Monday, October 8th. They set a “buy” rating and a $28.00 target price for the company. Morgan Stanley lowered their target price on shares of Yext from $26.00 to $25.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, KeyCorp reaffirmed a “hold” rating on shares of Yext in a report on Thursday, August 30th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $24.00.



The firm has a market capitalization of $1.81 billion, a P/E ratio of -21.39 and a beta of 0.82.

Yext (NYSE:YEXT) last released its earnings results on Thursday, August 30th. The company reported ($0.10) EPS for the quarter, topping 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 analyst estimates of $53.67 million. Equities research analysts anticipate that Yext Inc will post -0.79 EPS for the current year.

Several hedge funds have recently made changes to their positions in YEXT. Northern Trust Corp grew its holdings in shares of Yext by 2.4% in the 1st quarter. Northern Trust Corp now owns 240,879 shares of the company’s stock valued at $3,047,000 after buying an additional 5,687 shares during the period. BlackRock Inc. grew its holdings in shares of Yext by 3.1% in the 1st quarter. BlackRock Inc. now owns 1,296,429 shares of the company’s stock valued at $16,399,000 after buying an additional 39,389 shares during the period. New York State Common Retirement Fund grew its holdings in shares of Yext by 86.9% in the 1st quarter. New York State Common Retirement Fund now owns 24,300 shares of the company’s stock valued at $307,000 after buying an additional 11,300 shares during the period. BB&T Securities LLC acquired a new position in shares of Yext in the 1st quarter valued at $180,000. Finally, Commonwealth Equity Services LLC acquired a new position in shares of Yext in the 1st quarter valued at $255,000. 52.84% of the stock is owned by institutional investors.

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.

Further Reading: What is an Initial Public Offering (IPO)?

Receive News & Ratings for Yext Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Yext and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply