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

Wells Fargo & Company cut shares of Five9 (NASDAQ:FIVN) from an overweight rating to an equal weight rating in a report published on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has $40.00 price objective on the software maker’s stock, down from their prior price objective of $55.00.

Other equities research analysts have also recently issued research reports about the stock. Northland Securities dropped their price objective on shares of Five9 from $95.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Roth Mkm lowered their target price on shares of Five9 from $90.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Truist Financial restated a “buy” rating and set a $65.00 target price on shares of Five9 in a research report on Tuesday, August 27th. Piper Sandler increased their price target on Five9 from $35.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Barclays cut their price objective on Five9 from $75.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $59.22.

Five9 Stock Down 2.3 %

NASDAQ:FIVN opened at $38.07 on Tuesday. The company’s 50 day moving average is $30.18 and its two-hundred day moving average is $38.82. The company has a market cap of $2.86 billion, a PE ratio of -76.14, a P/E/G ratio of 26.49 and a beta of 0.85. Five9 has a twelve month low of $26.60 and a twelve month high of $92.40. 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, CAO Leena Mansharamani sold 1,395 shares of Five9 stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $30.51, for a total transaction of $42,561.45. Following the sale, the chief accounting officer now owns 36,872 shares in the company, valued at approximately $1,124,964.72. The trade was a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Daniel P. Burkland sold 2,605 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $33.41, for a total value of $87,033.05. Following the completion of the sale, the executive now directly owns 132,554 shares of the company’s stock, valued at approximately $4,428,629.14. This trade represents a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,493 shares of company stock valued at $1,097,753. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Five9

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vestcor Inc raised its position in Five9 by 42.9% in the 3rd quarter. Vestcor Inc now owns 50,000 shares of the software maker’s stock valued at $1,437,000 after purchasing an additional 15,000 shares during the last quarter. Bullseye Asset Management LLC raised its holdings in shares of Five9 by 13.7% in the third quarter. Bullseye Asset Management LLC now owns 103,768 shares of the software maker’s stock valued at $2,981,000 after buying an additional 12,500 shares during the last quarter. Barclays PLC boosted its stake in shares of Five9 by 215.8% during the third quarter. Barclays PLC now owns 242,187 shares of the software maker’s stock worth $6,956,000 after buying an additional 165,487 shares during the period. Y Intercept Hong Kong Ltd grew its holdings in shares of Five9 by 371.9% during the third quarter. Y Intercept Hong Kong Ltd now owns 84,112 shares of the software maker’s stock worth $2,417,000 after buying an additional 66,286 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in Five9 during the 3rd quarter valued at approximately $629,000. 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.