King Luther Capital Management Corp purchased a new stake in shares of Yext (NYSE:YEXT) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 33,000 shares of the company’s stock, valued at approximately $417,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in YEXT. Grace & White Inc. NY bought a new position in Yext during the 4th quarter valued at approximately $126,000. Teacher Retirement System of Texas bought a new position in Yext during the 4th quarter valued at approximately $131,000. MetLife Investment Advisors LLC bought a new position in Yext during the 4th quarter valued at approximately $140,000. Public Employees Retirement Association of Colorado bought a new position in Yext during the 4th quarter valued at approximately $169,000. Finally, Dynamic Advisors Solutions LLC bought a new position in Yext during the 4th quarter valued at approximately $175,000. 45.97% of the stock is owned by institutional investors and hedge funds.
Shares of Yext opened at $15.00 on Tuesday, MarketBeat reports. Yext has a 52-week low of $10.58 and a 52-week high of $15.47. The company has a market capitalization of $1.48 billion and a PE ratio of -17.65.
Several research analysts have recently issued reports on the company. Piper Jaffray Companies reissued a “buy” rating and issued a $16.00 target price on shares of Yext in a research report on Friday, March 9th. Zacks Investment Research lowered Yext from a “hold” rating to a “sell” rating in a research report on Wednesday, March 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Yext has an average rating of “Hold” and an average price target of $16.25.
In related news, Director Andrew T. Sheehan purchased 1,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 21st. The shares were bought at an average price of $12.00 per share, for a total transaction of $12,000,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Brian Distelburger sold 8,160 shares of the company’s stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $11.78, for a total value of $96,124.80. The disclosure for this sale can be found here. Insiders sold a total of 825,441 shares of company stock valued at $10,677,950 in the last three months. Corporate insiders own 20.80% of the company’s stock.
Yext Company Profile
Yext, Inc provides a knowledge engine platform that lets businesses manage their digital knowledge in the cloud in North America and Europe. The company offers Yext Knowledge Engine, a cloud-based global platform that enables businesses to control and manage their digital knowledge and make it available through its PowerListings Network of approximately 150 third-party maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories, and social networks.
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