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

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 traded.

Specifically, Director Seth H. Waugh acquired 32,600 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were bought at an average price of $6.65 per share, with a total value of $216,790.00. Following the completion of the transaction, the director now directly owns 153,350 shares in the company, valued at $1,019,777.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

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

Yext Stock Up 4.1 %

The company has a market cap of $871.14 million, a PE ratio of -130.90 and a beta of 1.17. The stock has a 50-day simple moving average of $5.48 and a 200 day simple moving average of $5.47.

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

Institutional Trading of Yext

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its position in shares of Yext by 23.1% during the fourth quarter. Victory Capital Management Inc. now owns 13,587 shares of the company’s stock worth $80,000 after purchasing an additional 2,547 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Yext by 20.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,108,423 shares of the company’s stock valued at $6,529,000 after acquiring an additional 186,838 shares during the period. BNP Paribas Financial Markets raised its stake in Yext by 56.1% during the 4th quarter. BNP Paribas Financial Markets now owns 217,266 shares of the company’s stock valued at $1,280,000 after acquiring an additional 78,040 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its stake in shares of Yext by 129.2% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 66,836 shares of the company’s stock valued at $394,000 after purchasing an additional 37,678 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Yext by 5.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,373,576 shares of the company’s stock valued at $19,870,000 after purchasing an additional 176,063 shares during the period. 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.