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

Yext (NYSE:YEXT) was the recipient of unusually large options trading on Monday. Traders bought 10,000 put options on the stock. This is an increase of 173% compared to the average volume of 3,669 put options.

Yext Price Performance

YEXT traded down $0.09 during trading on Monday, hitting $3.63. The company’s stock had a trading volume of 327,517 shares, compared to its average volume of 3,052,478. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.61. Yext has a twelve month low of $3.29 and a twelve month high of $9.20. The business’s fifty day simple moving average is $4.81 and its 200 day simple moving average is $6.92. The firm has a market capitalization of $447.13 million, a price-to-earnings ratio of 60.43 and a beta of 1.19.

Yext (NYSE:YEXT) last issued its quarterly earnings data on Monday, March 9th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. The company had revenue of $112.00 million for the quarter, compared to analyst estimates of $114.21 million. Yext had a return on equity of 29.61% and a net margin of 8.48%.Yext’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period last year, the company earned $0.13 earnings per share. On average, equities research analysts forecast that Yext will post -0.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Allan Tang sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $3.62, for a total transaction of $36,200.00. Following the sale, the chief accounting officer directly owned 7,848 shares of the company’s stock, valued at $28,409.76. This trade represents a 56.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.20% of the stock is currently owned by company insiders.

Institutional Trading of Yext

A number of institutional investors have recently made changes to their positions in the company. Lynrock Lake LP boosted its stake in shares of Yext by 23.3% in the fourth quarter. Lynrock Lake LP now owns 15,132,384 shares of the company’s stock worth $121,967,000 after acquiring an additional 2,861,653 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Yext by 7.1% in the second quarter. The Manufacturers Life Insurance Company now owns 5,595,447 shares of the company’s stock worth $47,561,000 after acquiring an additional 371,253 shares during the last quarter. Hudson Bay Capital Management LP boosted its stake in shares of Yext by 126.2% in the fourth quarter. Hudson Bay Capital Management LP now owns 2,952,453 shares of the company’s stock worth $23,797,000 after acquiring an additional 1,647,174 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Yext by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 2,602,559 shares of the company’s stock worth $20,980,000 after acquiring an additional 23,914 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Yext by 28.7% in the fourth quarter. Federated Hermes Inc. now owns 1,871,845 shares of the company’s stock worth $15,087,000 after acquiring an additional 417,896 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the company. Wall Street Zen lowered Yext from a “buy” rating to a “hold” rating in a report on Sunday, March 15th. Roth Mkm lowered Yext from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $9.50 to $6.00 in a report on Wednesday, March 11th. Weiss Ratings lowered Yext from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. DA Davidson reissued a “neutral” rating and issued a $6.00 price objective on shares of Yext in a report on Wednesday, March 11th. Finally, B. Riley Financial dropped their price objective on Yext from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $7.50.

Yext Company Profile

Yext, Inc is a software-as-a-service company that provides a platform for digital knowledge management. Its core offering enables businesses to centrally manage and synchronize public-facing information—such as location details, product descriptions and service offerings—across a network of search engines, mapping services, voice assistants and third-party directories.

The Yext platform is built around a proprietary Knowledge Graph, which stores and structures data to ensure consistency and accuracy.