Five9 (NASDAQ:FIVN) Sees Strong Trading Volume

Five9, Inc. (NASDAQ:FIVN) shares saw unusually-high trading volume on Wednesday . Approximately 124,095 shares traded hands during mid-day trading, a decline of 88% from the previous session’s volume of 1,073,069 shares.The stock last traded at $164.52 and had previously closed at $167.99.

FIVN has been the subject of a number of recent research reports. Truist Financial cut shares of Five9 to a “hold” rating and set a $212.00 price objective for the company. in a research note on Monday, August 9th. Needham & Company LLC upgraded shares of Five9 from a “hold” rating to a “buy” rating and set a $200.00 price objective for the company in a research note on Tuesday, September 7th. Wells Fargo & Company downgraded shares of Five9 from an “overweight” rating to an “equal weight” rating in a research note on Monday, July 19th. Colliers Securities downgraded shares of Five9 from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 20th. Finally, JPMorgan Chase & Co. downgraded shares of Five9 to a “hold” rating and set a $213.00 target price for the company. in a research note on Thursday, August 5th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $200.65.

The stock has a market cap of $11.39 billion, a price-to-earnings ratio of -236.88 and a beta of 0.48. The stock’s fifty day moving average is $184.31 and its 200-day moving average is $176.06. The company has a quick ratio of 4.80, a current ratio of 4.80 and a debt-to-equity ratio of 4.75.

Five9 (NASDAQ:FIVN) last issued its quarterly earnings data on Tuesday, July 27th. The software maker reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.09. The firm had revenue of $143.78 million during the quarter, compared to analysts’ expectations of $132.46 million. Five9 had a negative net margin of 9.11% and a negative return on equity of 2.67%. The business’s revenue for the quarter was up 44.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.21 earnings per share. As a group, equities research analysts predict that Five9, Inc. will post -0.22 earnings per share for the current fiscal year.

In other news, CFO Barry Zwarenstein sold 550 shares of the business’s stock in a transaction on Thursday, August 26th. The shares were sold at an average price of $189.83, for a total value of $104,406.50. Following the sale, the chief financial officer now owns 81,955 shares of the company’s stock, valued at $15,557,517.65. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Daniel P. Burkland sold 2,323 shares of the business’s stock in a transaction on Tuesday, September 7th. The stock was sold at an average price of $169.58, for a total transaction of $393,934.34. Following the completion of the sale, the president now directly owns 94,861 shares in the company, valued at approximately $16,086,528.38. The disclosure for this sale can be found here. Insiders sold 42,082 shares of company stock valued at $7,901,238 in the last quarter. Corporate insiders own 2.50% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Parametric Portfolio Associates LLC raised its holdings in shares of Five9 by 29.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 252,901 shares of the software maker’s stock valued at $46,380,000 after purchasing an additional 57,011 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Five9 during the second quarter worth about $399,000. Comerica Bank grew its holdings in Five9 by 2.7% during the second quarter. Comerica Bank now owns 40,885 shares of the software maker’s stock worth $7,147,000 after purchasing an additional 1,078 shares during the period. Marshall Wace LLP bought a new position in Five9 during the second quarter worth about $1,696,000. Finally, Marshall Wace North America L.P. bought a new position in Five9 during the second quarter worth about $4,797,000. 98.31% of the stock is owned by institutional investors.

Five9 Company Profile (NASDAQ:FIVN)

Five9, Inc engages in the provision of cloud software for contact centers. It specializes in omnichannel routing, analytics, workforce organization and reporting. The company was founded in December 2001 and is headquartered in San Ramon, CA.

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