Traders Purchase High Volume of Put Options on Yext (NYSE:YEXT)

Yext, Inc. (NYSE:YEXTGet Free Report) was the target of some unusual options trading on Friday. Investors purchased 16,827 put options on the stock. This represents an increase of 1,581% compared to the typical volume of 1,001 put options.

Hedge Funds Weigh In On Yext

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Yext by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 15,327,897 shares of the company’s stock valued at $97,026,000 after buying an additional 211,986 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Yext by 5.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,373,576 shares of the company’s stock valued at $19,870,000 after purchasing an additional 176,063 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Yext by 48.8% during the third quarter. The Manufacturers Life Insurance Company now owns 3,197,513 shares of the company’s stock worth $20,240,000 after purchasing an additional 1,048,244 shares during the period. Federated Hermes Inc. increased its stake in shares of Yext by 9.4% during the third quarter. Federated Hermes Inc. now owns 1,548,159 shares of the company’s stock worth $9,800,000 after purchasing an additional 132,449 shares during the period. Finally, Invenomic Capital Management LP lifted its holdings in Yext by 67.0% during the 1st quarter. Invenomic Capital Management LP now owns 1,503,960 shares of the company’s stock worth $9,069,000 after purchasing an additional 603,598 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, B. Riley cut their target price on shares of Yext from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, March 7th.

Check Out Our Latest Research Report on YEXT

Yext Stock Up 9.2 %

Shares of NYSE YEXT opened at $5.16 on Friday. Yext has a twelve month low of $4.66 and a twelve month high of $14.20. The stock has a market cap of $643.69 million, a price-to-earnings ratio of -257.75 and a beta of 1.22. The company’s fifty day moving average is $5.49 and its 200-day moving average is $5.81.

Yext (NYSE:YEXTGet Free Report) last announced its earnings results on Wednesday, March 6th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. The firm had revenue of $101.11 million during the quarter, compared to analyst estimates of $100.20 million. Yext had a negative net margin of 0.65% and a negative return on equity of 1.87%. On average, research analysts anticipate that Yext will post 0.06 EPS for the current fiscal year.

About Yext

(Get Free Report)

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.

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