Verition Fund Management LLC Invests $289,000 in Yext, Inc. (NYSE:YEXT)

Verition Fund Management LLC purchased a new position in shares of Yext, Inc. (NYSE:YEXT) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 41,795 shares of the company’s stock, valued at approximately $289,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lynrock Lake LP boosted its stake in shares of Yext by 23.8% in the second quarter. Lynrock Lake LP now owns 8,267,487 shares of the company’s stock valued at $44,231,000 after buying an additional 1,591,791 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of Yext by 86.6% during the 2nd quarter. Federated Hermes Inc. now owns 2,748,420 shares of the company’s stock worth $14,704,000 after purchasing an additional 1,275,348 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Yext by 12.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,734,880 shares of the company’s stock worth $25,332,000 after acquiring an additional 526,043 shares during the period. Marshall Wace LLP grew its position in shares of Yext by 230.7% in the second quarter. Marshall Wace LLP now owns 367,953 shares of the company’s stock valued at $1,969,000 after purchasing an additional 256,688 shares during the period. Finally, Algert Global LLC lifted its position in Yext by 410.4% during the second quarter. Algert Global LLC now owns 317,046 shares of the company’s stock worth $1,696,000 after buying an additional 254,924 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on YEXT. Needham & Company LLC upped their price objective on shares of Yext from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. DA Davidson boosted their price objective on shares of Yext from $5.75 to $7.50 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $10.50 target price (up from $7.50) on shares of Yext in a research report on Tuesday, December 10th.

Yext Stock Performance

NYSE YEXT opened at $6.50 on Friday. The firm has a market capitalization of $829.53 million, a price-to-earnings ratio of -43.33 and a beta of 1.20. Yext, Inc. has a one year low of $4.29 and a one year high of $8.75. The company’s 50 day moving average price is $7.53 and its 200 day moving average price is $6.18.

Insider Transactions at Yext

In related news, Director Seth H. Waugh bought 32,600 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was 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 of the company’s stock, valued at approximately $1,019,777.50. This represents a 27.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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.