Yext (NYSE:YEXT) Shares Gap Up Following Insider Buying Activity

Shares of Yext, Inc. (NYSE:YEXT) gapped up before the market opened on Friday after an insider bought additional shares in the company. The stock had previously closed at $6.54, but opened at $6.75. Yext shares last traded at $6.70, with a volume of 63,467 shares trading hands.

Specifically, Director Seth H. Waugh acquired 32,600 shares of the stock in a transaction on Thursday, September 19th. The stock was purchased at an average price of $6.65 per share, for a total transaction of $216,790.00. Following the transaction, the director now owns 153,350 shares of the company’s stock, valued at approximately $1,019,777.50. The acquisition was disclosed in a filing with the SEC, which is available through this link.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on YEXT shares. Needham & Company LLC raised shares of Yext from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a research note on Thursday, September 5th. DA Davidson upped their price objective on Yext from $5.50 to $5.75 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Finally, Roth Mkm reiterated a “buy” rating and issued a $7.50 price objective (down from $8.00) on shares of Yext in a research report on Thursday, September 5th.

Yext Trading Up 1.4 %

The stock has a market capitalization of $848.11 million, a P/E ratio of -132.60 and a beta of 1.17. The company has a fifty day simple moving average of $5.51 and a two-hundred day simple moving average of $5.47.

Yext (NYSE:YEXT) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Yext had a negative net margin of 1.68% and a negative return on equity of 3.35%. The business had revenue of $97.90 million during the quarter, compared to the consensus estimate of $98.15 million. During the same period in the previous year, the firm posted ($0.03) earnings per share. Yext’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, analysts forecast that Yext, Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Algert Global LLC grew its stake in shares of Yext by 410.4% during the second quarter. Algert Global LLC now owns 317,046 shares of the company’s stock worth $1,696,000 after purchasing an additional 254,924 shares during the period. Lynrock Lake LP grew its position in shares of Yext by 23.8% during the 2nd quarter. Lynrock Lake LP now owns 8,267,487 shares of the company’s stock worth $44,231,000 after buying an additional 1,591,791 shares during the period. Mackenzie Financial Corp increased its stake in shares of Yext by 10.3% in the 2nd quarter. Mackenzie Financial Corp now owns 26,732 shares of the company’s stock valued at $143,000 after acquiring an additional 2,493 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Yext by 12.5% in 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 acquiring an additional 526,043 shares during the period. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Yext in the 2nd quarter valued at approximately $125,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

About Yext

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.