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 trading hands.

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

Wall Street Analyst Weigh In

YEXT has been the subject of several research reports. Roth Mkm reiterated a “buy” rating and issued a $7.50 target price (down previously from $8.00) on shares of Yext in a research note on Thursday, September 5th. DA Davidson lifted 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, Needham & Company LLC upgraded Yext from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a research note on Thursday, September 5th.

Yext Price Performance

The firm has a market cap of $848.11 million, a P/E ratio of -132.60 and a beta of 1.17. The stock’s 50 day moving average is $5.51 and its two-hundred day moving average is $5.47.

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

Institutional Investors Weigh In On Yext

Several institutional investors and hedge funds have recently made changes to their positions in YEXT. Williams & Novak LLC bought a new stake in Yext during the second quarter worth about $56,000. Canada Pension Plan Investment Board acquired a new position in shares of Yext in the 2nd quarter worth approximately $62,000. Victory Capital Management Inc. grew its position in Yext by 23.1% during the 4th quarter. Victory Capital Management Inc. now owns 13,587 shares of the company’s stock worth $80,000 after acquiring an additional 2,547 shares during the last quarter. Dynamic Advisor Solutions LLC increased its holdings in Yext by 27.8% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 15,545 shares of the company’s stock valued at $83,000 after purchasing an additional 3,385 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in Yext by 36.2% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 18,618 shares of the company’s stock valued at $100,000 after purchasing an additional 4,946 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Yext Company 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.