Morgan Stanley Lowers Stake in Yext Inc (NYSE:YEXT)

Morgan Stanley cut its position in shares of Yext Inc (NYSE:YEXT) by 37.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,423 shares of the company’s stock after selling 13,361 shares during the quarter. Morgan Stanley’s holdings in Yext were worth $450,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Baillie Gifford & Co. boosted its position in shares of Yext by 26.1% in the second quarter. Baillie Gifford & Co. now owns 8,511,510 shares of the company’s stock worth $170,997,000 after acquiring an additional 1,763,991 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in Yext by 15.0% during the second quarter. Commonwealth Equity Services LLC now owns 40,320 shares of the company’s stock valued at $810,000 after buying an additional 5,245 shares in the last quarter. First Trust Advisors LP lifted its position in Yext by 51.3% during the second quarter. First Trust Advisors LP now owns 145,555 shares of the company’s stock valued at $2,924,000 after buying an additional 49,346 shares in the last quarter. Panagora Asset Management Inc. acquired a new position in Yext during the second quarter valued at approximately $1,167,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Yext by 88.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,067 shares of the company’s stock valued at $82,000 after buying an additional 1,908 shares in the last quarter. Institutional investors and hedge funds own 61.74% of the company’s stock.

A number of brokerages have weighed in on YEXT. Oppenheimer set a $26.00 price target on shares of Yext and gave the company a “buy” rating in a research report on Friday, August 30th. Zacks Investment Research cut shares of Yext from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Berenberg Bank set a $27.00 price target on shares of Yext and gave the company a “buy” rating in a research report on Wednesday, September 4th. SunTrust Banks set a $30.00 price target on shares of Yext and gave the company a “buy” rating in a research report on Monday, August 26th. Finally, Morgan Stanley reduced their price target on shares of Yext from $16.00 to $15.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $24.17.

In other news, Director Michael Walrath acquired 85,429 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average price of $16.42 per share, for a total transaction of $1,402,744.18. Following the completion of the purchase, the director now directly owns 214,216 shares of the company’s stock, valued at approximately $3,517,426.72. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Tom Christopher Dixon sold 4,166 shares of Yext stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $17.72, for a total transaction of $73,821.52. Following the sale, the chief technology officer now owns 238,074 shares in the company, valued at approximately $4,218,671.28. The disclosure for this sale can be found here. Insiders have sold 737,154 shares of company stock worth $14,566,283 in the last quarter. Insiders own 17.00% of the company’s stock.

YEXT stock traded up $0.14 during midday trading on Tuesday, reaching $16.36. 3,756 shares of the company’s stock traded hands, compared to its average volume of 718,587. The company has a market capitalization of $1.82 billion, a P/E ratio of -21.59 and a beta of 1.29. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.00 and a quick ratio of 2.00. Yext Inc has a fifty-two week low of $12.90 and a fifty-two week high of $23.32. The business has a 50-day moving average price of $15.72 and a two-hundred day moving average price of $18.75.

Yext (NYSE:YEXT) last announced its quarterly earnings results on Thursday, August 29th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.04). The business had revenue of $72.37 million for the quarter, compared to analyst estimates of $71.86 million. Yext had a negative net margin of 33.57% and a negative return on equity of 57.48%. The company’s quarterly revenue was up 31.8% on a year-over-year basis. During the same period last year, the firm earned ($0.10) earnings per share. As a group, research analysts forecast that Yext Inc will post -0.97 earnings per share for the current fiscal year.

About Yext

Yext, Inc provides a knowledge engine platform that lets businesses manage their digital knowledge in the cloud and synchronize it to its knowledge network in North America and internationally. 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 knowledge Network of approximately 150 third-party maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories, and social networks.

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Institutional Ownership by Quarter for Yext (NYSE:YEXT)

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