Westpac Banking Corp cut its stake in Yandex N.V. (NASDAQ:YNDX) by 82.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 63,384 shares of the information services provider’s stock after selling 291,004 shares during the period. Westpac Banking Corp’s holdings in Yandex N.V. were worth $6,982,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nine Chapters Capital Management LLC purchased a new position in shares of Yandex N.V. during the first quarter valued at about $202,000. Capital One National Association purchased a new position in shares of Yandex N.V. during the first quarter valued at about $234,000. Princeton Alpha Management LP purchased a new position in shares of Yandex N.V. during the first quarter valued at about $240,000. ARGA Investment Management LP bought a new position in shares of Yandex N.V. during the third quarter valued at $246,000. Finally, Comerica Bank bought a new position in shares of Yandex N.V. during the first quarter valued at $249,000. Hedge funds and other institutional investors own 70.64% of the company’s stock.
Yandex N.V. (NASDAQ YNDX) traded down 0.78% during midday trading on Friday, hitting $25.57. The company had a trading volume of 3,398,627 shares. Yandex N.V. has a 52-week low of $17.28 and a 52-week high of $29.13. The firm has a market cap of $8.28 billion, a price-to-earnings ratio of 39.58 and a beta of 2.76. The stock has a 50 day moving average of $27.27 and a 200 day moving average of $23.51.
Yandex N.V. (NASDAQ:YNDX) last issued its earnings results on Thursday, April 27th. The information services provider reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.19 by $0.05. Yandex N.V. had a return on equity of 14.52% and a net margin of 8.07%. The firm had revenue of $20.65 billion during the quarter. During the same quarter in the prior year, the business earned $9.81 earnings per share. The company’s revenue for the quarter was up 25.4% on a year-over-year basis. On average, analysts anticipate that Yandex N.V. will post $0.91 EPS for the current year.
Several brokerages recently weighed in on YNDX. Zacks Investment Research cut Yandex N.V. from a “buy” rating to a “hold” rating in a research report on Thursday, June 1st. Deutsche Bank AG reissued a “buy” rating and issued a $35.00 price objective (up from $28.00) on shares of Yandex N.V. in a report on Saturday, April 29th. Standpoint Research lowered Yandex N.V. from a “buy” rating to a “hold” rating in a report on Friday, April 7th. VTB Capital raised Yandex N.V. from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Thursday. Finally, Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Yandex N.V. in a report on Thursday, April 6th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $28.55.
About Yandex N.V.
Yandex N.V. is an Internet and technology company, and operates Internet search engine. The Company’s segments include Search and Portal, E-commerce, Taxi, Classifieds and Experimental businesses. The Company’s Search and Portal segment offers a range of services in Russia, Ukraine, Belarus and Kazakhstan, among which are search, location-based, personalized and mobile services, that enable the Company’s users to find relevant and objective information to communicate and connect over the Internet, from both their desktops and mobile devices.
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