Five9 (NASDAQ:FIVN) Trading Up 6.5% – Here’s What Happened

Five9, Inc. (NASDAQ:FIVN)’s share price traded up 6.5% during trading on Tuesday . The stock traded as high as $39.52 and last traded at $39.83. 253,383 shares changed hands during trading, a decline of 72% from the average session volume of 914,640 shares. The stock had previously closed at $37.39.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $52.00 target price on shares of Five9 in a research note on Tuesday. Morgan Stanley upped their price objective on shares of Five9 from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 18th. Robert W. Baird lifted their target price on shares of Five9 from $40.00 to $43.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Rosenblatt Securities increased their price target on shares of Five9 from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Piper Sandler raised their price objective on shares of Five9 from $35.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Five9 has an average rating of “Moderate Buy” and an average target price of $57.50.

Five9 Trading Down 1.5 %

The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85. The firm’s 50 day moving average price is $40.43 and its 200 day moving average price is $36.25. The stock has a market capitalization of $2.94 billion, a P/E ratio of -78.26, a P/E/G ratio of 8.93 and a beta of 0.92.

Five9 (NASDAQ:FIVN) last issued its quarterly earnings data on Thursday, November 7th. The software maker reported $0.15 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.43). Five9 had a negative return on equity of 1.53% and a negative net margin of 3.66%. The company had revenue of $264.18 million during the quarter, compared to the consensus estimate of $254.82 million. During the same quarter last year, the company posted ($0.21) earnings per share. As a group, equities research analysts expect that Five9, Inc. will post 0.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Andy Dignan sold 4,109 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $41.85, for a total transaction of $171,961.65. Following the completion of the transaction, the chief operating officer now directly owns 115,818 shares in the company, valued at $4,846,983.30. This trade represents a 3.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Leena Mansharamani sold 1,346 shares of Five9 stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $41.33, for a total transaction of $55,630.18. Following the completion of the sale, the chief accounting officer now directly owns 35,526 shares of the company’s stock, valued at approximately $1,468,289.58. This trade represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,004 shares of company stock valued at $1,209,279 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Five9

Several hedge funds have recently modified their holdings of the stock. Signaturefd LLC grew its position in shares of Five9 by 1,892.3% during the third quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock valued at $30,000 after purchasing an additional 984 shares in the last quarter. KBC Group NV grew its stake in shares of Five9 by 49.2% in the 4th quarter. KBC Group NV now owns 3,373 shares of the software maker’s stock worth $137,000 after buying an additional 1,113 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Five9 in the 2nd quarter valued at about $57,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Five9 by 13.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,069 shares of the software maker’s stock worth $548,000 after acquiring an additional 2,254 shares during the last quarter. Finally, FNY Investment Advisers LLC lifted its stake in shares of Five9 by 324.8% in the 4th quarter. FNY Investment Advisers LLC now owns 3,250 shares of the software maker’s stock valued at $132,000 after purchasing an additional 2,485 shares during the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Five9 Company Profile

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States, India, and internationally. It offers a virtual contact center cloud platform that delivers a suite of applications, which enables the breadth of contact center-related customer service, sales, and marketing functions.