Lynrock Lake LP Has $44.23 Million Stake in Yext, Inc. (NYSE:YEXT)

Lynrock Lake LP grew its holdings in shares of Yext, Inc. (NYSE:YEXT) by 23.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,267,487 shares of the company’s stock after acquiring an additional 1,591,791 shares during the period. Yext accounts for approximately 2.9% of Lynrock Lake LP’s investment portfolio, making the stock its 11th biggest holding. Lynrock Lake LP owned approximately 0.07% of Yext worth $44,231,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Williams & Novak LLC bought a new position in Yext in the second quarter worth approximately $56,000. Canada Pension Plan Investment Board bought a new position in shares of Yext during the second quarter valued at about $62,000. Dynamic Advisor Solutions LLC boosted its holdings in Yext by 27.8% during the second quarter. Dynamic Advisor Solutions LLC now owns 15,545 shares of the company’s stock worth $83,000 after purchasing an additional 3,385 shares during the last quarter. Harbor Capital Advisors Inc. grew 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 worth $100,000 after purchasing an additional 4,946 shares in the last quarter. Finally, Dark Forest Capital Management LP purchased a new position in shares of Yext in the 2nd quarter worth approximately $125,000. 70.98% of the stock is owned by institutional investors.

Yext Price Performance

Shares of YEXT opened at $6.44 on Friday. The firm has a market cap of $812.34 million, a PE ratio of -128.80 and a beta of 1.17. Yext, Inc. has a 1 year low of $4.29 and a 1 year high of $7.53. The stock’s fifty day moving average price is $5.60 and its two-hundred day moving average price is $5.49.

Yext (NYSE:YEXT) last issued its 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 firm had revenue of $97.90 million during the quarter, compared to analyst estimates of $98.15 million. During the same quarter last year, the business earned ($0.03) earnings per share. The company’s quarterly revenue was down 4.6% on a year-over-year basis. Sell-side analysts anticipate that Yext, Inc. will post 0.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Yext

In related news, Director Seth H. Waugh purchased 32,600 shares of Yext stock in a transaction dated Thursday, September 19th. The stock was bought at an average cost of $6.65 per share, for a total transaction of $216,790.00. Following the completion of the transaction, the director now owns 153,350 shares in the company, valued at $1,019,777.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.40% of the stock is owned by company insiders.

Yext 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.