Lead Edge Capital sells 4,948,782 shares (63.1% of holdings) at $5.75; stock down 57.3% from 52-week high, -29.9% in 30 days.
Lead Edge Capital Management, LLC, a 10% owner of Yext, executed 3 separate sales totaling 4,948,782 shares for $28,455,496.50 at $5.75 per share, reducing its stake from 7,840,674 to 2,891,892 shares. The transaction occurred at a significant discount to recent trading history: the current price of $3.91 is 57.3% below the 52-week high of $9.16, and the stock has declined 29.9% over the past 30 days and 51.6% over 90 days. This large reduction in a major shareholder's position during a period of sharp price deterioration is noteworthy given the company's modest fundamentals: P/E of 5.21 with annual revenue growth of 6.1% and net income of $6.1M on $112.0M in quarterly revenue.