Five9 (NASDAQ:FIVN) Rating Lowered to “Equal Weight” at Wells Fargo & Company

Five9 (NASDAQ:FIVN) was downgraded by investment analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a report issued on Tuesday,Finviz reports. They presently have a $40.00 price objective on the software maker’s stock, down from their prior price objective of $55.00. Wells Fargo & Company‘s price target points to a potential upside of 0.83% from the company’s previous close.

Several other analysts also recently issued reports on the company. DA Davidson upped their price target on Five9 from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday. Northland Securities lowered their price target on Five9 from $95.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Piper Sandler boosted their price objective on shares of Five9 from $35.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday. Truist Financial reiterated a “buy” rating and issued a $65.00 target price on shares of Five9 in a research note on Tuesday, August 27th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $48.00 target price on shares of Five9 in a report on Friday. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.22.

Five9 Trading Up 7.7 %

Five9 stock opened at $39.67 on Tuesday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 1.39. Five9 has a 12 month low of $26.60 and a 12 month high of $92.40. The company’s fifty day simple moving average is $29.46 and its 200-day simple moving average is $39.09. The stock has a market cap of $2.96 billion, a P/E ratio of -79.34 and a beta of 0.85.

Insider Buying and Selling at Five9

In other Five9 news, COO Andy Dignan sold 4,245 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $30.26, for a total transaction of $128,453.70. Following the completion of the sale, the chief operating officer now directly owns 119,927 shares in the company, valued at $3,628,991.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, COO Andy Dignan sold 4,245 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $30.26, for a total value of $128,453.70. Following the completion of the transaction, the chief operating officer now owns 119,927 shares of the company’s stock, valued at $3,628,991.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Daniel P. Burkland sold 2,605 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $33.41, for a total value of $87,033.05. Following the transaction, the executive now directly owns 132,554 shares of the company’s stock, valued at approximately $4,428,629.14. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,493 shares of company stock valued at $1,097,753 in the last quarter. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Five9

A number of institutional investors have recently made changes to their positions in the stock. Signaturefd LLC boosted its position in shares of Five9 by 1,892.3% during the 3rd quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock worth $30,000 after purchasing an additional 984 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Five9 during the second quarter valued at approximately $57,000. Quest Partners LLC purchased a new position in shares of Five9 during the third quarter worth about $95,000. nVerses Capital LLC purchased a new position in shares of Five9 in the 3rd quarter worth about $141,000. Finally, Quent Capital LLC raised its stake in shares of Five9 by 8.7% during the second quarter. Quent Capital LLC now owns 4,379 shares of the software maker’s stock worth $193,000 after acquiring an additional 352 shares in the last quarter. Institutional investors own 96.64% of the company’s stock.

About Five9

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.