Five9 (NASDAQ:FIVN) Sees Large Volume Increase – Here’s Why

Shares of Five9, Inc. (NASDAQ:FIVN) saw unusually-strong trading volume on Wednesday . Approximately 4,799,388 shares traded hands during mid-day trading, an increase of 216% from the previous session’s volume of 1,520,032 shares.The stock last traded at $40.71 and had previously closed at $39.27.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wells Fargo & Company downgraded Five9 from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $55.00 to $40.00 in a report on Tuesday. Piper Sandler lifted their target price on shares of Five9 from $35.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. StockNews.com upgraded shares of Five9 from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Roth Mkm decreased their price objective on shares of Five9 from $90.00 to $67.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, DA Davidson increased their price objective on Five9 from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $59.22.

Five9 Trading Down 3.4 %

The company has a market capitalization of $2.93 billion, a P/E ratio of -77.92, a P/E/G ratio of 26.49 and a beta of 0.85. The stock has a 50 day moving average of $29.99 and a 200-day moving average of $38.82. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.32.

Insider Transactions at Five9

In other news, EVP Panos Kozanian sold 7,617 shares of Five9 stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $30.02, for a total transaction of $228,662.34. Following the sale, the executive vice president now owns 76,628 shares in the company, valued at $2,300,372.56. This trade represents a 9.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Leena Mansharamani sold 1,395 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $30.51, for a total transaction of $42,561.45. Following the transaction, the chief accounting officer now directly owns 36,872 shares of the company’s stock, valued at $1,124,964.72. The trade was a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,493 shares of company stock valued at $1,097,753 over the last three months. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Five9

Several large investors have recently made changes to their positions in FIVN. Sei Investments Co. increased its stake in Five9 by 5.4% in the 1st quarter. Sei Investments Co. now owns 192,209 shares of the software maker’s stock worth $11,938,000 after acquiring an additional 9,816 shares during the last quarter. ProShare Advisors LLC bought a new position in Five9 during the first quarter valued at $247,000. State Board of Administration of Florida Retirement System grew its stake in shares of Five9 by 1.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 76,495 shares of the software maker’s stock worth $4,751,000 after buying an additional 745 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Five9 by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 7,437,575 shares of the software maker’s stock worth $461,948,000 after buying an additional 150,786 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in shares of Five9 during the 1st quarter valued at about $264,000. 96.64% of the stock is owned by institutional investors.

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.