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

Yext, Inc. (NYSE:YEXT) saw unusually large options trading activity on Tuesday. Traders acquired 7,635 call options on the company. This represents an increase of 975% compared to the average daily volume of 710 call options.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp increased its stake in Yext by 10.3% during the second quarter. Mackenzie Financial Corp now owns 26,732 shares of the company’s stock worth $143,000 after acquiring an additional 2,493 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in Yext by 18.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 22,002 shares of the company’s stock valued at $152,000 after buying an additional 3,384 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Yext in the third quarter valued at about $38,000. Principal Financial Group Inc. lifted its position in Yext by 11.8% in the second quarter. Principal Financial Group Inc. now owns 93,516 shares of the company’s stock valued at $500,000 after buying an additional 9,849 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Yext by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 299,167 shares of the company’s stock worth $1,601,000 after buying an additional 10,040 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

YEXT has been the topic of several research analyst reports. DA Davidson lifted their target price on shares of Yext from $5.75 to $7.50 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Needham & Company LLC raised their target price on Yext from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $10.50 price target (up from $7.50) on shares of Yext in a research note on Tuesday, December 10th.

Yext Stock Performance

Shares of YEXT stock traded up $0.21 during trading hours on Tuesday, reaching $6.42. The company had a trading volume of 559,150 shares, compared to its average volume of 895,401. Yext has a 12-month low of $4.29 and a 12-month high of $8.75. The company has a market capitalization of $819.33 million, a price-to-earnings ratio of -42.80 and a beta of 1.20. The stock has a fifty day moving average of $7.42 and a 200-day moving average of $6.30.

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.