Traders Buy Large Volume of Put Options on Five9 (NASDAQ:FIVN)

Five9, Inc. (NASDAQ:FIVN) was the target of unusually large options trading activity on Wednesday. Stock investors bought 2,326 put options on the stock. This is an increase of approximately 52% compared to the average volume of 1,528 put options.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Piper Sandler lifted their target price on Five9 from $46.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. William Blair reaffirmed an “outperform” rating on shares of Five9 in a report on Thursday, March 13th. Wells Fargo & Company decreased their price target on shares of Five9 from $45.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 price target on shares of Five9 in a report on Friday, April 4th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Five9 in a report on Wednesday, April 2nd. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Five9 presently has an average rating of “Moderate Buy” and a consensus target price of $52.76.

Insider Transactions at Five9

In other news, CEO Michael Burkland sold 12,595 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $35.63, for a total transaction of $448,759.85. Following the completion of the transaction, the chief executive officer now owns 404,056 shares in the company, valued at approximately $14,396,515.28. This represents a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Panos Kozanian sold 7,619 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $33.40, for a total value of $254,474.60. Following the completion of the sale, the executive vice president now owns 126,359 shares in the company, valued at approximately $4,220,390.60. This represents a 5.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,574 shares of company stock valued at $1,004,346. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Five9

Institutional investors have recently made changes to their positions in the business. Barclays PLC lifted its holdings in Five9 by 215.8% in the 3rd quarter. Barclays PLC now owns 242,187 shares of the software maker’s stock worth $6,956,000 after purchasing an additional 165,487 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Five9 during the 3rd quarter worth approximately $145,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Five9 in the third quarter valued at $4,154,000. Synovus Financial Corp increased its position in Five9 by 34.2% in the third quarter. Synovus Financial Corp now owns 13,272 shares of the software maker’s stock worth $381,000 after purchasing an additional 3,385 shares during the last quarter. Finally, Oddo BHF Asset Management Sas purchased a new stake in Five9 during the third quarter valued at $4,597,000. Institutional investors own 96.64% of the company’s stock.

Five9 Stock Up 4.2 %

Shares of NASDAQ FIVN opened at $23.19 on Thursday. The company has a market cap of $1.76 billion, a price-to-earnings ratio of -115.94, a PEG ratio of 9.41 and a beta of 1.29. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32. The firm’s fifty day moving average is $29.72 and its 200 day moving average is $35.05. Five9 has a 52 week low of $21.04 and a 52 week high of $60.81.

Five9 (NASDAQ:FIVN) last released its quarterly earnings results on Thursday, February 20th. The software maker reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.44). Five9 had a positive return on equity of 3.62% and a negative net margin of 1.23%. The company had revenue of $278.66 million during the quarter, compared to the consensus estimate of $267.70 million. On average, equities research analysts expect that Five9 will post 0.28 earnings per share for the current year.

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.