Yext Target of Unusually High Options Trading (NYSE:YEXT)

Yext, Inc. (NYSE:YEXT) was the recipient of some unusual options trading activity on Friday. Investors acquired 15,000 put options on the company. This is an increase of approximately 1,986% compared to the typical daily volume of 719 put options.

Hedge Funds Weigh In On Yext

A number of large investors have recently modified their holdings of the business. Wilmington Savings Fund Society FSB acquired a new stake in shares of Yext in the third quarter valued at about $38,000. Canada Pension Plan Investment Board bought a new position in Yext in the second quarter valued at approximately $62,000. Quantinno Capital Management LP acquired a new position in shares of Yext during the 3rd quarter worth approximately $76,000. Balboa Wealth Partners bought a new stake in shares of Yext during the 3rd quarter worth approximately $114,000. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Yext in the 2nd quarter valued at approximately $125,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Yext Stock Down 2.4 %

YEXT traded down $0.16 during trading hours on Friday, hitting $6.33. 991,125 shares of the company’s stock were exchanged, compared to its average volume of 900,802. Yext has a 1-year low of $4.29 and a 1-year high of $8.75. The stock’s 50-day moving average is $7.23 and its two-hundred day moving average is $6.41. The stock has a market cap of $807.20 million, a price-to-earnings ratio of -42.17 and a beta of 1.26.

Analyst Upgrades and Downgrades

YEXT has been the topic of a number of research analyst reports. Roth Mkm restated a “buy” rating and set a $10.50 price objective (up from $7.50) on shares of Yext in a report on Tuesday, December 10th. DA Davidson lifted their price target on Yext from $5.75 to $7.50 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of Yext in a research report on Thursday.

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.