Quick Takeaways
- YEXT - Yext, Inc. has 29 insiders with reported activity on this page.
- Net insider value flow over the last year: -$284,946,051.
- Recent transaction rows are available for direct filing-level review.
Insider Transactions Reported by 29 Insiders of Yext, Inc.
- Symbol
- YEXT on NYSE
- Location
- New York, NY
What Changed
- Buy value: ; sell value: $284,946,050.
- Net share flow: -49,538,820.
Why This Matters
- This page gives a plain-language issuer insider context before you inspect transaction-level evidence.
- Use the filing links below to verify timestamps, codes, and ownership impacts directly from SEC forms.
Source Evidence
Filed on Form 4
See Original Filing
Issuer insider activity is sourced from SEC Forms 3, 4, and 5.
Insider trading overview
Last 12 monthsNet insider flow leans to selling over the last 12 months. Net value: -$284,946,051.
Buys
$0
Shares: 0
Insiders: 0
Sells
$284,946,051
Shares: 49,538,820
Insiders: 13
Net
-$284,946,051
Shares: -49,538,820
Insiders: -13
| Window (months) | Buy shares | Sell shares | Buy $ | Sell $ | Net $ |
|---|---|---|---|---|---|
| 0-3 | 0 | 49,497,820 | $0 | $284,591,126 | -$284,591,126 |
| 3-6 | 0 | 0 | $0 | $0 | $0 |
| 6-9 | 0 | 0 | $0 | $0 | $0 |
| 9-12 | 0 | 41,000 | $0 | $354,925 | -$354,925 |
Yext, Inc. executives and other stock owners filed with the SEC include:
| Name | Relationship | Holdings Value | Past Year Net Change | Change % | Valuation | Report Date |
|---|---|---|---|---|---|---|
| Lead Edge Public Fund, LP | 10%+ Owner | $45,098,951 | -$28,455,497 | -39% | Filing P/S | 23 Mar 2026 |
| Brian Neider | 10%+ Owner | $45,098,951 | -$28,455,497 | -39% | Filing P/S | 23 Mar 2026 |
| Lead Edge Capital Partners V, LLC | 10%+ Owner | $45,098,951 | -$28,455,497 | -39% | Filing P/S | 23 Mar 2026 |
| Lead Edge Capital Partners VI, LLC | 10%+ Owner | $45,098,951 | -$28,455,497 | -39% | Filing P/S | 23 Mar 2026 |
| Lead Edge Public Fund GP, LLC | 10%+ Owner | $45,098,951 | -$28,455,497 | -39% | Filing P/S | 23 Mar 2026 |
| Lead Edge Capital VI, LP | 10%+ Owner | $45,098,951 | -$28,455,497 | -39% | Filing P/S | 23 Mar 2026 |
| Lead Edge Capital V, LP | 10%+ Owner | $45,098,951 | -$28,455,497 | -39% | Filing P/S | 23 Mar 2026 |
| Nimay Mehta | 10%+ Owner | $45,098,951 | -$28,455,497 | -39% | Filing P/S | 23 Mar 2026 |
| Lead Edge Capital Management, LLC | 10%+ Owner | $45,098,951 | -$28,455,497 | -39% | Filing P/S | 23 Mar 2026 |
| Mitchell H. Green | 10%+ Owner | $45,098,951 | -$28,455,497 | -39% | Filing P/S | 23 Mar 2026 |
| Michael Walrath | Chief Executive Officer, Director | $28,762,200 | Mixed | 16 Apr 2026 | ||
| Howard Lerman | Chief Executive Officer, Director | $21,515,408 | Mixed | 20 Mar 2022 | ||
| Brian Distelburger | Director | $15,929,884 | Mixed | 12 Jun 2024 | ||
| Sheehan Andrew T. | Director | $11,976,738 | Mixed | 11 Jun 2025 | ||
| Marc Ferrentino | President and COO | $4,239,118 | Mixed | 20 Sep 2023 | ||
| Darryl Bond | Chief Financial Officer, Chief Administrative Officer | $4,137,306 | -$96,094 | -2.3% | Mixed | 16 Apr 2026 |
| Jesse Lipson | Director | $2,715,461 | Mixed | 11 Jun 2025 | ||
| Ho Shin | General Counsel | $1,677,315 | -$258,831 | -13% | Mixed | 16 Apr 2026 |
| Steven Cakebread | Chief Financial Officer | $1,607,109 | Mixed | 20 Mar 2022 | ||
| Evan Skorpen | Director | $1,470,014 | Mixed | 30 Sep 2025 | ||
| David Rudnitsky | President & CRO | $1,396,737 | Mixed | 20 Mar 2022 | ||
| Seth H. Waugh | Director | $1,168,796 | Mixed | 11 Jun 2025 | ||
| Julie Richardson | Director | $1,031,147 | Mixed | 31 Jan 2025 | ||
| Hillary B. Smith | Director | $691,066 | Mixed | 11 Jun 2025 | ||
| Tamar Yehoshua | Director | $664,892 | Mixed | 13 Sep 2024 | ||
| Shane Battier | Director | $570,307 | Mixed | 12 Jun 2024 | ||
| Faheem Bawa | Chief Accounting Officer | $546,480 | Mixed | 20 Sep 2022 | ||
| Mark Steven Davis | Director | $314,375 | Mixed | 11 Jun 2025 | ||
| Allan Tang | Chief Accounting Officer | $28,379 | -$36,161 | -56% | Filing P/S | 15 Apr 2026 |
Top shareholders of Yext, Inc. (13F + 13D/G + 3/4/5)
Grouped by holder across the latest SEC ownership disclosures. Ownership % is shown only when it is directly reported or safely comparable across share classes.
Methodology: rows are grouped by holder and ranked by the holder's primary source value. — indicates unavailable or non-comparable values; "mixed-class rows" means the latest filing spans non-comparable classes.
| Holder | Source | Role / Reporting | Ownership % | Shares | Holdings Value | 12M Net Δ | As of | Details |
|---|---|---|---|---|---|---|---|---|
| VANGUARD GROUP INC |
13F
|
Company |
12%
|
15,176,303
|
$122,321,002 | — | 31 Dec 2025 | |
| Lynrock Lake LP |
13F
13D/G
|
Company |
18%
from 13D/G
|
15,132,384
|
$121,967,015 | — | 31 Dec 2025 | |
| Lead Edge Capital Management, LLC |
13F
3/4/5
|
Company · 10%+ Owner |
6.4%
from 3/4/5
|
12,792,078
|
$103,104,149 | — | 31 Dec 2025 | |
| BlackRock, Inc. |
13D/G
13F
|
Company |
6.9%
|
8,435,752
|
$71,703,892 | $0 | 30 Jun 2025 | |
| Brian Neider |
3/4/5
|
10%+ Owner |
6.4%
|
7,843,296
|
$45,098,951 | -$28,455,497 | 23 Mar 2026 | |
| Lead Edge Capital Partners V, LLC |
3/4/5
|
10%+ Owner |
6.4%
|
7,843,296
|
$45,098,951 | -$28,455,497 | 23 Mar 2026 | |
| Lead Edge Capital Partners VI, LLC |
3/4/5
|
10%+ Owner |
6.4%
|
7,843,296
|
$45,098,951 | -$28,455,497 | 23 Mar 2026 | |
| Lead Edge Capital V, LP |
3/4/5
|
10%+ Owner |
6.4%
|
7,843,296
|
$45,098,951 | -$28,455,497 | 23 Mar 2026 | |
| Lead Edge Capital VI, LP |
3/4/5
|
10%+ Owner |
6.4%
|
7,843,296
|
$45,098,951 | -$28,455,497 | 23 Mar 2026 | |
| Lead Edge Public Fund GP, LLC |
3/4/5
|
10%+ Owner |
6.4%
|
7,843,296
|
$45,098,951 | -$28,455,497 | 23 Mar 2026 | |
| Lead Edge Public Fund, LP |
3/4/5
13D/G
|
10%+ Owner · Lead Edge Capital Management, LLC |
7.9%
from 13D/G
|
7,843,296
|
$45,098,951 | -$28,455,497 | 23 Mar 2026 | |
| Mitchell H. Green |
3/4/5
|
10%+ Owner |
6.4%
|
7,843,296
|
$45,098,951 | -$28,455,497 | 23 Mar 2026 | |
| Nimay Mehta |
3/4/5
|
10%+ Owner |
6.4%
|
7,843,296
|
$45,098,951 | -$28,455,497 | 23 Mar 2026 | |
| MILLENNIUM MANAGEMENT LLC |
13D/G
13F
|
Company |
5.8%
|
7,175,420
|
$38,316,743 | $0 | 10 Mar 2026 | |
| Michael Walrath |
3/4/5
|
Chief Executive Officer, Director |
—
mixed-class rows
|
4,602,321
mixed-class rows
|
$28,762,200 | — | 16 Apr 2026 | |
| VANGUARD PORTFOLIO MANAGEMENT LLC |
13D/G
|
Vanguard Portfolio Management |
5.3%
|
6,552,621
|
$25,162,065 | $0 | 31 Mar 2026 | |
| Hudson Bay Capital Management LP |
13F
|
Company |
2.4%
|
2,952,453
|
$23,796,771 | — | 31 Dec 2025 | |
| STATE STREET CORP |
13F
|
Company |
2.2%
|
2,749,543
|
$22,161,317 | — | 31 Dec 2025 | |
| Howard Lerman |
3/4/5
|
Chief Executive Officer, Director |
—
mixed-class rows
|
3,735,314
mixed-class rows
|
$21,515,408 | — | 20 Mar 2022 | |
| GEODE CAPITAL MANAGEMENT, LLC |
13F
|
Company |
2.1%
|
2,602,559
|
$20,980,021 | — | 31 Dec 2025 | |
| Brian Distelburger |
3/4/5
|
Director |
—
class O/S missing
|
3,166,975
|
$15,929,884 | — | 12 Jun 2024 | |
| FEDERATED HERMES, INC. |
13F
|
Company |
1.5%
|
1,871,845
|
$15,087,070 | — | 31 Dec 2025 | |
| DIMENSIONAL FUND ADVISORS LP |
13F
|
Company |
1.4%
|
1,757,683
|
$14,167,414 | — | 31 Dec 2025 | |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE |
13F
|
Company |
1.4%
|
1,747,171
|
$14,082,198 | — | 31 Dec 2025 | |
| Sheehan Andrew T. |
3/4/5
|
Director |
1.5%
|
1,910,166
|
$11,976,738 | — | 11 Jun 2025 | |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP |
13F
|
Company |
1.1%
|
1,303,270
|
$10,504,356 | — | 31 Dec 2025 | |
| Connor, Clark & Lunn Investment Management Ltd. |
13F
|
Company |
0.95%
|
1,174,647
|
$9,467,655 | — | 31 Dec 2025 | |
| GOLDMAN SACHS GROUP INC |
13F
|
Company |
0.82%
|
1,010,444
|
$8,144,179 | — | 31 Dec 2025 | |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC |
13F
|
Company |
0.8%
|
983,585
|
$7,927,695 | — | 31 Dec 2025 | |
| Qube Research & Technologies Ltd |
13F
|
Company |
0.78%
|
961,484
|
$7,749,561 | — | 31 Dec 2025 | |
| NORTHERN TRUST CORP |
13F
|
Company |
0.75%
|
927,644
|
$7,476,811 | — | 31 Dec 2025 | |
| Pathstone Holdings, LLC |
13F
|
Company |
0.68%
|
841,360
|
$6,781,362 | — | 31 Dec 2025 | |
| Hillsdale Investment Management Inc. |
13F
|
Company |
0.67%
|
826,430
|
$6,661,026 | — | 31 Dec 2025 | |
| FIRST TRUST ADVISORS LP |
13F
|
Company |
0.57%
|
698,979
|
$5,633,770 | — | 31 Dec 2025 | |
| KING LUTHER CAPITAL MANAGEMENT CORP |
13F
|
Company |
0.54%
|
671,291
|
$5,410,605 | — | 31 Dec 2025 | |
| Rangeley Capital, LLC |
13F
|
Company |
0.47%
|
585,360
|
$4,718,002 | — | 31 Dec 2025 | |
| MORGAN STANLEY |
13F
|
Company |
0.44%
|
546,801
|
$4,407,221 | — | 31 Dec 2025 | |
| Circumference Group LLC |
13F
|
Company |
0.44%
|
542,800
|
$4,374,968 | — | 31 Dec 2025 | |
| Marc Ferrentino |
3/4/5
|
President and COO |
—
mixed-class rows
|
735,958
mixed-class rows
|
$4,239,118 | — | 20 Sep 2023 | |
| Darryl Bond |
3/4/5
|
Chief Financial Officer, Chief Administrative Officer |
—
mixed-class rows
|
1,527,842
mixed-class rows
|
$4,137,306 | -$96,094 | 16 Apr 2026 | |
| FMR LLC |
13F
|
Company |
0.41%
|
512,085
|
$4,127,405 | — | 31 Dec 2025 | |
| Boston Partners |
13F
|
Company |
0.41%
|
505,639
|
$4,075,460 | — | 31 Dec 2025 | |
| VOYA INVESTMENT MANAGEMENT LLC |
13F
|
Company |
0.4%
|
494,239
|
$3,983,566 | — | 31 Dec 2025 | |
| UBS Group AG |
13F
|
Company |
0.39%
|
479,214
|
$3,862,465 | — | 31 Dec 2025 | |
| LAZARD ASSET MANAGEMENT LLC |
13F
|
Company |
0.35%
|
427,867
|
$3,448,608 | — | 31 Dec 2025 | |
| RENAISSANCE TECHNOLOGIES LLC |
13F
|
Company |
0.33%
|
409,200
|
$3,298,152 | — | 31 Dec 2025 | |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP |
13F
|
Company |
0.33%
|
405,175
|
$3,265,711 | — | 31 Dec 2025 | |
| TOCQUEVILLE ASSET MANAGEMENT L.P. |
13F
|
Company |
0.33%
|
405,000
|
$3,264,300 | — | 31 Dec 2025 | |
| Maltin Wealth Management, Inc. |
13F
|
Company |
0.32%
|
391,439
|
$3,154,998 | — | 31 Dec 2025 | |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. |
13F
|
Company |
0.28%
|
345,715
|
$2,786,463 | — | 31 Dec 2025 |
Recent Insider Transactions by Companies or Individuals for Yext, Inc.
Showing up to 300 most recent insider transactions from the last 12 months.
| Insider | Symbol | Class | Transaction | % | Value $ | * Price $ | Shares | Shares Owned | Date | Ownership |
|---|---|---|---|---|---|---|---|---|---|---|
| Allan Tang | YEXT | Performance-Based Restricted Stock Unit | Award | 183,652 | 91,826 | 16 Apr 2026 | Direct | |||
| Allan Tang | YEXT | Restricted Stock Unit | Award | 94,609 | 94,609 | 16 Apr 2026 | Direct | |||
| Ho Shin | YEXT | Performance-Based Restricted Stock Unit | Award | 550,956 | 275,478 | 16 Apr 2026 | Direct | |||
| Ho Shin | YEXT | Restricted Stock Unit | Award | 283,826 | 283,826 | 16 Apr 2026 | Direct | |||
| Darryl Bond | YEXT | Performance-Based Restricted Stock Unit | Award | 780,522 | 390,261 | 16 Apr 2026 | Direct | |||
| Darryl Bond | YEXT | Restricted Stock Unit | Award | 402,087 | 402,087 | 16 Apr 2026 | Direct | |||
| Michael Walrath | YEXT | Performance-Based Restricted Stock Unit | Award | 1,250,000 | 625,000 | 16 Apr 2026 | Direct | |||
| Allan Tang | YEXT | Common Stock | Sale | -56% | $36,161 | $3.62 | -10,000 | 7,848 | 15 Apr 2026 | Direct |
| Lead Edge Capital Management, LLC | YEXT | Common Stock | Sale | -38.7% | $10,491,795 | $5.75 | -1,824,660 | 2,891,892 | 23 Mar 2026 | By Lead Edge Public Fund, LP |
| Lead Edge Capital Management, LLC | YEXT | Common Stock | Sale | -38.7% | $10,491,795 | $5.75 | -1,824,660 | 2,891,892 | 23 Mar 2026 | By Lead Edge Public Fund, LP |
| Lead Edge Capital Management, LLC | YEXT | Common Stock | Sale | -38.7% | $10,491,795 | $5.75 | -1,824,660 | 2,891,892 | 23 Mar 2026 | By Lead Edge Public Fund, LP |
| Lead Edge Capital Management, LLC | YEXT | Common Stock | Sale | -38.7% | $10,491,795 | $5.75 | -1,824,660 | 2,891,892 | 23 Mar 2026 | By Lead Edge Public Fund, LP |
| Lead Edge Capital Management, LLC | YEXT | Common Stock | Sale | -38.7% | $10,491,795 | $5.75 | -1,824,660 | 2,891,892 | 23 Mar 2026 | By Lead Edge Public Fund, LP |
| Lead Edge Capital Management, LLC | YEXT | Common Stock | Sale | -38.7% | $10,491,795 | $5.75 | -1,824,660 | 2,891,892 | 23 Mar 2026 | By Lead Edge Public Fund, LP |
| Lead Edge Capital Management, LLC | YEXT | Common Stock | Sale | -38.7% | $10,491,795 | $5.75 | -1,824,660 | 2,891,892 | 23 Mar 2026 | By Lead Edge Public Fund, LP |
| Lead Edge Capital Management, LLC | YEXT | Common Stock | Sale | -38.7% | $10,491,795 | $5.75 | -1,824,660 | 2,891,892 | 23 Mar 2026 | By Lead Edge Public Fund, LP |
| Lead Edge Capital Management, LLC | YEXT | Common Stock | Sale | -38.7% | $10,491,795 | $5.75 | -1,824,660 | 2,891,892 | 23 Mar 2026 | By Lead Edge Public Fund, LP |
| Lead Edge Capital Management, LLC | YEXT | Common Stock | Sale | -38.7% | $10,491,795 | $5.75 | -1,824,660 | 2,891,892 | 23 Mar 2026 | By Lead Edge Public Fund, LP |
| Lead Edge Capital Management, LLC | YEXT | Common Stock | Sale | -38.7% | $8,826,923 | $5.75 | -1,535,117 | 2,432,999 | 23 Mar 2026 | By Lead Edge Capital VI, LP |
| Lead Edge Capital Management, LLC | YEXT | Common Stock | Sale | -38.7% | $8,826,923 | $5.75 | -1,535,117 | 2,432,999 | 23 Mar 2026 | By Lead Edge Capital VI, LP |
| Lead Edge Capital Management, LLC | YEXT | Common Stock | Sale | -38.7% | $8,826,923 | $5.75 | -1,535,117 | 2,432,999 | 23 Mar 2026 | By Lead Edge Capital VI, LP |
| Lead Edge Capital Management, LLC | YEXT | Common Stock | Sale | -38.7% | $8,826,923 | $5.75 | -1,535,117 | 2,432,999 | 23 Mar 2026 | By Lead Edge Capital VI, LP |
| Lead Edge Capital Management, LLC | YEXT | Common Stock | Sale | -38.7% | $8,826,923 | $5.75 | -1,535,117 | 2,432,999 | 23 Mar 2026 | By Lead Edge Capital VI, LP |
| Lead Edge Capital Management, LLC | YEXT | Common Stock | Sale | -38.7% | $8,826,923 | $5.75 | -1,535,117 | 2,432,999 | 23 Mar 2026 | By Lead Edge Capital VI, LP |
| Lead Edge Capital Management, LLC | YEXT | Common Stock | Sale | -38.7% | $8,826,923 | $5.75 | -1,535,117 | 2,432,999 | 23 Mar 2026 | By Lead Edge Capital VI, LP |
| Lead Edge Capital Management, LLC | YEXT | Common Stock | Sale | -38.7% | $8,826,923 | $5.75 | -1,535,117 | 2,432,999 | 23 Mar 2026 | By Lead Edge Capital VI, LP |
| Lead Edge Capital Management, LLC | YEXT | Common Stock | Sale | -38.7% | $8,826,923 | $5.75 | -1,535,117 | 2,432,999 | 23 Mar 2026 | By Lead Edge Capital VI, LP |
| Lead Edge Capital Management, LLC | YEXT | Common Stock | Sale | -38.7% | $8,826,923 | $5.75 | -1,535,117 | 2,432,999 | 23 Mar 2026 | By Lead Edge Capital VI, LP |
| Lead Edge Capital Management, LLC | YEXT | Common Stock | Sale | -38.7% | $9,136,779 | $5.75 | -1,589,005 | 2,518,405 | 23 Mar 2026 | By Lead Edge Capital V, LP |
| Lead Edge Capital Management, LLC | YEXT | Common Stock | Sale | -38.7% | $9,136,779 | $5.75 | -1,589,005 | 2,518,405 | 23 Mar 2026 | By Lead Edge Capital V, LP |
| Lead Edge Capital Management, LLC | YEXT | Common Stock | Sale | -38.7% | $9,136,779 | $5.75 | -1,589,005 | 2,518,405 | 23 Mar 2026 | By Lead Edge Capital V, LP |
| Lead Edge Capital Management, LLC | YEXT | Common Stock | Sale | -38.7% | $9,136,779 | $5.75 | -1,589,005 | 2,518,405 | 23 Mar 2026 | By Lead Edge Capital V, LP |
| Lead Edge Capital Management, LLC | YEXT | Common Stock | Sale | -38.7% | $9,136,779 | $5.75 | -1,589,005 | 2,518,405 | 23 Mar 2026 | By Lead Edge Capital V, LP |
| Lead Edge Capital Management, LLC | YEXT | Common Stock | Sale | -38.7% | $9,136,779 | $5.75 | -1,589,005 | 2,518,405 | 23 Mar 2026 | By Lead Edge Capital V, LP |
| Lead Edge Capital Management, LLC | YEXT | Common Stock | Sale | -38.7% | $9,136,779 | $5.75 | -1,589,005 | 2,518,405 | 23 Mar 2026 | By Lead Edge Capital V, LP |
| Lead Edge Capital Management, LLC | YEXT | Common Stock | Sale | -38.7% | $9,136,779 | $5.75 | -1,589,005 | 2,518,405 | 23 Mar 2026 | By Lead Edge Capital V, LP |
| Lead Edge Capital Management, LLC | YEXT | Common Stock | Sale | -38.7% | $9,136,779 | $5.75 | -1,589,005 | 2,518,405 | 23 Mar 2026 | By Lead Edge Capital V, LP |
| Lead Edge Capital Management, LLC | YEXT | Common Stock | Sale | -38.7% | $9,136,779 | $5.75 | -1,589,005 | 2,518,405 | 23 Mar 2026 | By Lead Edge Capital V, LP |
| Darryl Bond | YEXT | Common Stock | Tax liability | -7.31% | -58,033 | 735,494 | 20 Mar 2026 | Direct | ||
| Darryl Bond | YEXT | Common Stock | Award | 0.66% | 5,239 | 793,527 | 20 Mar 2026 | Direct | ||
| Darryl Bond | YEXT | Common Stock | Options Exercise | 16% | 108,437 | 788,288 | 20 Mar 2026 | Direct | ||
| Darryl Bond | YEXT | Performance-Based Restricted Stock Unit | Options Exercise | -50% | -30,000 | 30,000 | 20 Mar 2026 | Direct | ||
| Darryl Bond | YEXT | Restricted Stock Unit | Options Exercise | -100% | -78,437 | 0 | 20 Mar 2026 | Direct | ||
| Ho Shin | YEXT | Common Stock | Tax liability | -10.3% | -34,180 | 297,010 | 20 Mar 2026 | Direct | ||
| Ho Shin | YEXT | Common Stock | Award | 1.07% | 3,493 | 331,190 | 20 Mar 2026 | Direct | ||
| Ho Shin | YEXT | Common Stock | Options Exercise | 21.1% | 57,187 | 327,697 | 20 Mar 2026 | Direct | ||
| Ho Shin | YEXT | Performance-Based Restricted Stock Unit | Options Exercise | -50% | -20,000 | 20,000 | 20 Mar 2026 | Direct | ||
| Ho Shin | YEXT | Restricted Stock Unit | Options Exercise | -72.6% | -37,187 | 14,063 | 20 Mar 2026 | Direct | ||
| Michael Walrath | YEXT | Common Stock | Tax liability | -5.48% | -211,729 | 3,648,584 | 20 Mar 2026 | Direct | ||
| Michael Walrath | YEXT | Common Stock | Award | 1.43% | 54,571 | 3,860,313 | 20 Mar 2026 | Direct |
* An asterisk sign (*) next to the price indicates that the price is likely invalid.