Potrero Capital Research LLC Purchases 900,975 Shares of Yext, Inc. (NYSE:YEXT)

Potrero Capital Research LLC boosted its position in Yext, Inc. (NYSE:YEXT) by 36.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,404,537 shares of the company’s stock after buying an additional 900,975 shares during the period. Yext makes up 7.4% of Potrero Capital Research LLC’s holdings, making the stock its 2nd biggest holding. Potrero Capital Research LLC owned about 2.66% of Yext worth $23,559,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Williams & Novak LLC bought a new stake in shares of Yext during the second quarter worth about $56,000. Canada Pension Plan Investment Board bought a new stake in Yext in the 2nd quarter worth about $62,000. Dynamic Advisor Solutions LLC grew its position in 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 purchasing an additional 3,385 shares in 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, Balboa Wealth Partners bought a new stake in Yext in the 3rd quarter worth about $114,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Yext Price Performance

NYSE YEXT opened at $8.38 on Wednesday. Yext, Inc. has a 1 year low of $4.29 and a 1 year high of $8.58. The stock has a market capitalization of $1.07 billion, a PE ratio of -167.60 and a beta of 1.20. The company’s 50 day simple moving average is $7.37 and its two-hundred day simple moving average is $6.06.

Yext (NYSE:YEXT) last posted its earnings results on Wednesday, September 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. The business had revenue of $97.90 million for the quarter, compared to analysts’ expectations of $98.15 million. Yext had a negative net margin of 1.68% and a negative return on equity of 3.35%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.03) EPS. On average, research analysts anticipate that Yext, Inc. will post 0.08 EPS for the current year.

Insider Transactions at Yext

In other Yext news, Director Seth H. Waugh bought 32,600 shares of Yext stock in a transaction that occurred on Thursday, September 19th. The shares were bought at an average price of $6.65 per share, with a total value of $216,790.00. Following the acquisition, the director now owns 153,350 shares in the company, valued at approximately $1,019,777.50. This trade represents a 27.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on YEXT. Roth Mkm reaffirmed a “buy” rating and issued a $7.50 price objective (down from $8.00) on shares of Yext in a research report on Thursday, September 5th. DA Davidson boosted their target price on shares of 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 upgraded shares of Yext from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a research note on Thursday, September 5th.

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.