Five9 Sees Unusually High Options Volume (NASDAQ:FIVN)

Five9, Inc. (NASDAQ:FIVN) was the target of unusually large options trading on Tuesday. Stock investors purchased 8,504 call options on the company. This is an increase of approximately 2,115% compared to the typical daily volume of 384 call options.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FIVN. DA Davidson lifted their price target on shares of Five9 from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Piper Sandler boosted 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. Wells Fargo & Company lowered Five9 from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $55.00 to $40.00 in a research report on Tuesday, November 12th. Morgan Stanley lowered their price objective on Five9 from $45.00 to $37.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 15th. Finally, Truist Financial reissued a “buy” rating and set a $65.00 price objective on shares of Five9 in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $57.65.

Five9 Stock Performance

Shares of FIVN opened at $42.73 on Wednesday. The business has a 50-day simple moving average of $35.80 and a two-hundred day simple moving average of $36.69. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32. Five9 has a 52 week low of $26.60 and a 52 week high of $82.61. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of -86.24, a PEG ratio of 28.88 and a beta of 0.92.

Insider Buying and Selling

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

Hedge Funds Weigh In On Five9

Several large investors have recently made changes to their positions in the business. Scalar Gauge Management LLC bought a new position in shares of Five9 during the 2nd quarter valued at about $6,990,000. Massachusetts Financial Services Co. MA boosted its stake in Five9 by 14.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,667,922 shares of the software maker’s stock valued at $47,919,000 after buying an additional 210,836 shares during the last quarter. King Luther Capital Management Corp purchased a new position in shares of Five9 in the second quarter valued at $2,062,000. Van Berkom & Associates Inc. increased its position in Five9 by 52.3% in the second quarter. Van Berkom & Associates Inc. now owns 1,299,483 shares of the software maker’s stock worth $57,307,000 after purchasing an additional 446,151 shares during the last quarter. Finally, Lecap Asset Management Ltd. purchased a new stake in Five9 during the third quarter valued at $1,714,000. 96.64% of the stock is currently owned by hedge funds and other 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.