Yext Sees Unusually Large Options Volume (NYSE:YEXT)

Yext, Inc. (NYSE:YEXT) was the recipient of some unusual options trading activity on Tuesday. Stock traders acquired 9,316 call options on the stock. This represents an increase of approximately 781% compared to the typical volume of 1,058 call options.

Shares of NYSE:YEXT traded down $0.46 during midday trading on Tuesday, reaching $13.17. The company had a trading volume of 48,432 shares, compared to its average volume of 987,284. The company has a fifty day simple moving average of $14.67 and a two-hundred day simple moving average of $16.60. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -11.92 and a beta of 1.68. Yext has a 1-year low of $11.67 and a 1-year high of $20.90.

Yext (NYSE:YEXT) last announced its earnings results on Wednesday, March 3rd. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.07). The firm had revenue of $92.19 million during the quarter, compared to analyst estimates of $89.10 million. Yext had a negative return on equity of 63.74% and a negative net margin of 38.54%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.12) earnings per share. As a group, sell-side analysts forecast that Yext will post -0.89 earnings per share for the current fiscal year.

YEXT has been the subject of a number of analyst reports. William Blair reissued a “market perform” rating on shares of Yext in a research note on Wednesday, March 10th. Needham & Company LLC raised their target price on Yext from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, March 24th. Truist decreased their price target on Yext from $23.00 to $17.00 in a research note on Thursday, March 4th. Zacks Investment Research upgraded shares of Yext from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Tuesday, March 9th. Finally, Morgan Stanley lowered their target price on shares of Yext from $14.00 to $13.00 and set an “underweight” rating on the stock in a research note on Wednesday, March 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $18.95.

In other news, General Counsel Ho Shin sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, April 19th. The stock was sold at an average price of $14.13, for a total transaction of $42,390.00. Following the completion of the transaction, the general counsel now directly owns 25,326 shares of the company’s stock, valued at $357,856.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Darryl Bond sold 2,606 shares of the firm’s stock in a transaction that occurred on Monday, March 22nd. The stock was sold at an average price of $15.22, for a total value of $39,663.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 557,342 shares of company stock valued at $9,910,237. 14.20% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of YEXT. Spearhead Capital Advisors LLC lifted its stake in Yext by 49.9% in the 1st quarter. Spearhead Capital Advisors LLC now owns 24,063 shares of the company’s stock worth $348,000 after acquiring an additional 8,013 shares in the last quarter. State of New Jersey Common Pension Fund D grew its position in Yext by 8.6% during the first quarter. State of New Jersey Common Pension Fund D now owns 129,898 shares of the company’s stock valued at $1,881,000 after purchasing an additional 10,281 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in Yext by 63.0% in the 1st quarter. Exchange Traded Concepts LLC now owns 20,696 shares of the company’s stock worth $300,000 after buying an additional 8,000 shares in the last quarter. Koshinski Asset Management Inc. purchased a new position in shares of Yext during the 4th quarter valued at $507,000. Finally, Norges Bank acquired a new position in shares of Yext in the fourth quarter worth $16,538,000. Institutional investors and hedge funds own 70.61% of the company’s stock.

Yext Company Profile

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 provide answers to consumer questions, to control the facts about their businesses and the content of their landing pages, and to manage their consumer reviews through its Knowledge Network of approximately 200 maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories and social networks.

See Also: Why Invest in Dividend Achievers?

Receive News & Ratings for Yext Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Yext and related companies with MarketBeat.com's FREE daily email newsletter.