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

Shares of Yext, Inc. (NYSE:YEXT) gapped up prior to trading 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 bought 32,600 shares of the stock in a transaction dated Thursday, September 19th. The shares were acquired at an average price of $6.65 per share, with a total value of $216,790.00. Following the completion of the acquisition, the director now directly owns 153,350 shares in the company, valued at $1,019,777.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

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

Yext Trading Up 4.1 %

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

Yext (NYSE:YEXT) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.03 by $0.02. The company 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%. The firm’s revenue was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.03) EPS. As a group, equities research analysts anticipate that Yext, Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Trading of Yext

Institutional investors and hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Yext by 20.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,108,423 shares of the company’s stock worth $6,529,000 after acquiring an additional 186,838 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Yext by 5.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,373,576 shares of the company’s stock worth $19,870,000 after acquiring an additional 176,063 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Yext by 652.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 340,958 shares of the company’s stock worth $2,056,000 after purchasing an additional 295,658 shares during the last quarter. Circumference Group LLC acquired a new stake in shares of Yext in the 4th quarter valued at about $2,503,000. Finally, BNP Paribas Financial Markets raised its stake in shares of Yext by 56.1% in the 4th quarter. BNP Paribas Financial Markets now owns 217,266 shares of the company’s stock valued at $1,280,000 after purchasing an additional 78,040 shares in the last quarter. 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.