King Luther Capital Management Corp Has $3.07 Million Stake in Yext (NYSE:YEXT)

Key Points

• King Luther Capital Management Corp increased its holdings in Yext by 127.9%, acquiring an additional 279,390 shares in the first quarter, bringing its total to 497,917 shares valued at approximately $3.07 million.
• Yext's stock opened at $7.74, with a market capitalization of $946.76 million and a 52-week trading range of $4.69 to $9.15.
• Analysts are optimistic about Yext's outlook, with DA Davidson raising its price target to $8.25 and B. Riley upgrading it to a "buy" with a target of $10.00.

King Luther Capital Management Corp lifted its stake in Yext (NYSE:YEXT - Free Report) by 127.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 497,917 shares of the company's stock after purchasing an additional 279,390 shares during the quarter. King Luther Capital Management Corp owned about 0.40% of Yext worth $3,067,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of the company. Tenzing Global Management LLC increased its holdings in Yext by 20.8% in the 4th quarter. Tenzing Global Management LLC now owns 2,537,500 shares of the company's stock worth $16,138,000 after buying an additional 437,500 shares during the period. Geode Capital Management LLC increased its stake in Yext by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 2,412,319 shares of the company's stock worth $15,347,000 after acquiring an additional 27,452 shares during the last quarter. Pathstone Holdings LLC acquired a new position in Yext during the fourth quarter worth $13,026,000. Dimensional Fund Advisors LP increased its stake in Yext by 22.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,469,605 shares of the company's stock worth $9,346,000 after buying an additional 273,498 shares during the period. Finally, Northern Trust Corp grew its holdings in Yext by 13.4% during the 4th quarter. Northern Trust Corp now owns 1,053,874 shares of the company's stock worth $6,703,000 after acquiring an additional 124,688 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on YEXT shares. Needham & Company LLC restated a "buy" rating and issued a $10.00 price objective on shares of Yext in a research note on Wednesday, June 4th. B. Riley raised shares of Yext from a "neutral" rating to a "buy" rating and raised their price target for the stock from $7.00 to $10.00 in a research note on Wednesday, June 4th. Finally, DA Davidson boosted their price objective on shares of Yext from $7.50 to $8.25 and gave the company a "neutral" rating in a research note on Thursday, June 5th.

Yext Stock Up 0.7%

NYSE YEXT traded up $0.06 during midday trading on Friday, hitting $8.08. The company had a trading volume of 374,763 shares, compared to its average volume of 806,037. The stock has a market cap of $988.38 million, a price-to-earnings ratio of -44.91 and a beta of 1.06. Yext has a fifty-two week low of $4.73 and a fifty-two week high of $9.15. The firm has a fifty day simple moving average of $8.24 and a two-hundred day simple moving average of $7.09.

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.