Victory Capital Management Inc. Acquires 60,544 Shares of Yext (NYSE:YEXT)

Key Points

• Victory Capital Management Inc. has raised its stake in Yext by 88.2%, now owning 129,163 shares valued at approximately $796,000 as of the latest SEC filing.
• Analysts are optimistic about Yext's future, with Needham & Company and B. Riley both issuing a "buy" rating and setting a price target of $10.00 for the stock.
• Yext's stock recently traded at $7.76, with a 52-week range between $4.69 and $9.15, reflecting significant volatility in its trading performance.

Victory Capital Management Inc. lifted its holdings in Yext (NYSE:YEXT - Free Report) by 88.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 129,163 shares of the company's stock after purchasing an additional 60,544 shares during the quarter. Victory Capital Management Inc. owned about 0.10% of Yext worth $796,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. American Century Companies Inc. increased its position in Yext by 72.5% during the fourth quarter. American Century Companies Inc. now owns 84,049 shares of the company's stock worth $535,000 after buying an additional 35,319 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Yext during the 4th quarter worth about $149,000. Vanguard Group Inc. lifted its position in Yext by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 15,865,674 shares of the company's stock worth $100,906,000 after acquiring an additional 204,329 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Yext by 39.1% during the fourth quarter. JPMorgan Chase & Co. now owns 716,693 shares of the company's stock worth $4,558,000 after purchasing an additional 201,472 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Yext by 160.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,758,394 shares of the company's stock valued at $11,183,000 after purchasing an additional 1,082,153 shares during the period. 70.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Yext Trading Down 1.3%

NYSE YEXT traded down $0.11 on Tuesday, hitting $7.93. 161,606 shares of the company were exchanged, compared to its average volume of 817,030. The company has a market cap of $970.02 million, a PE ratio of -44.03 and a beta of 1.06. The stock has a fifty day moving average of $8.12 and a 200-day moving average of $7.01. Yext has a 12 month low of $4.69 and a 12 month high of $9.15.

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.