Franklin Resources Inc. Sells 139,415 Shares of Yext, Inc. (NYSE:YEXT)

Franklin Resources Inc. trimmed its holdings in Yext, Inc. (NYSE:YEXT) by 56.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 106,476 shares of the company’s stock after selling 139,415 shares during the quarter. Franklin Resources Inc. owned about 0.08% of Yext worth $737,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lynrock Lake LP lifted its stake in shares of Yext by 23.8% during the second quarter. Lynrock Lake LP now owns 8,267,487 shares of the company’s stock valued at $44,231,000 after acquiring an additional 1,591,791 shares during the period. The Manufacturers Life Insurance Company lifted its position in Yext by 12.5% during 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. Potrero Capital Research LLC boosted its stake in shares of Yext by 36.0% in the 3rd quarter. Potrero Capital Research LLC now owns 3,404,537 shares of the company’s stock valued at $23,559,000 after purchasing an additional 900,975 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Yext by 86.6% during the 2nd quarter. Federated Hermes Inc. now owns 2,748,420 shares of the company’s stock worth $14,704,000 after buying an additional 1,275,348 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Yext by 1.6% during the third quarter. Geode Capital Management LLC now owns 2,384,867 shares of the company’s stock worth $16,507,000 after buying an additional 38,305 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Yext Trading Down 1.9 %

Shares of Yext stock opened at $6.33 on Monday. The stock’s fifty day simple moving average is $7.44 and its 200 day simple moving average is $6.29. The company has a market capitalization of $807.84 million, a PE ratio of -42.20 and a beta of 1.20. Yext, Inc. has a 12 month low of $4.29 and a 12 month high of $8.75.

Wall Street Analysts Forecast Growth

YEXT has been the topic of several recent research reports. Roth Mkm restated a “buy” rating and issued a $10.50 price target (up from $7.50) on shares of Yext in a research report on Tuesday, December 10th. DA Davidson raised their target price on Yext from $5.75 to $7.50 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, Needham & Company LLC upped their price target on Yext from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th.

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.