Dark Forest Capital Management LP Purchases New Position in Yext, Inc. (NYSE:YEXT)

Dark Forest Capital Management LP acquired a new position in Yext, Inc. (NYSE:YEXT) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 23,295 shares of the company’s stock, valued at approximately $125,000.

A number of other large investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its holdings in shares of Yext by 1.6% in the first quarter. Russell Investments Group Ltd. now owns 121,487 shares of the company’s stock valued at $733,000 after purchasing an additional 1,861 shares in the last quarter. Dynamic Advisor Solutions LLC grew its stake in shares of Yext by 27.8% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 15,545 shares of the company’s stock worth $83,000 after buying an additional 3,385 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Yext by 10.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 50,598 shares of the company’s stock worth $306,000 after buying an additional 4,711 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of 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 buying an additional 4,946 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Yext by 11.8% in the 2nd quarter. Principal Financial Group Inc. now owns 93,516 shares of the company’s stock valued at $500,000 after acquiring an additional 9,849 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Roth Mkm reissued a “buy” rating and set a $7.50 price objective (down from $8.00) on shares of Yext in a research note on Thursday, September 5th. DA Davidson increased their price target on Yext from $5.50 to $5.75 and gave the company 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 price target for the company in a research report on Thursday, September 5th.

Yext Price Performance

Shares of NYSE:YEXT opened at $6.92 on Tuesday. The firm has a market capitalization of $884.57 million, a PE ratio of -138.30 and a beta of 1.17. The business has a 50 day simple moving average of $5.66 and a two-hundred day simple moving average of $5.50. Yext, Inc. has a 1 year low of $4.29 and a 1 year high of $7.53.

Yext (NYSE:YEXT) last announced its quarterly earnings data on Wednesday, September 4th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.03 by $0.02. Yext had a negative return on equity of 3.35% and a negative net margin of 1.68%. The company had revenue of $97.90 million for the quarter, compared to the consensus estimate of $98.15 million. During the same quarter in the prior year, the company posted ($0.03) EPS. Yext’s quarterly revenue was down 4.6% on a year-over-year basis. Equities research analysts expect that Yext, Inc. will post 0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Seth H. Waugh purchased 32,600 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was purchased at an average price of $6.65 per share, with a total value of $216,790.00. Following the completion of the purchase, 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 legal filing with the SEC, which is accessible through this link. Insiders own 8.40% 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.