Five9 Sees Unusually High Options Volume (NASDAQ:FIVN)

Five9, Inc. (NASDAQ:FIVN) was the recipient of unusually large options trading on Tuesday. Investors acquired 8,504 call options on the company. This represents an increase of approximately 2,115% compared to the average volume of 384 call options.

Five9 Price Performance

Five9 stock opened at $19.69 on Wednesday. The company has a quick ratio of 4.61, a current ratio of 4.61 and a debt-to-equity ratio of 0.96. The business has a 50-day simple moving average of $21.81 and a 200 day simple moving average of $25.06. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 54.69, a PEG ratio of 1.23 and a beta of 1.35. Five9 has a 52 week low of $17.71 and a 52 week high of $49.90.

Five9 (NASDAQ:FIVN) last released its quarterly earnings results on Friday, August 22nd. The software maker reported $0.76 EPS for the quarter. Five9 had a net margin of 2.77% and a return on equity of 10.59%. The business had revenue of $283.27 million during the quarter. On average, research analysts forecast that Five9 will post 0.28 earnings per share for the current fiscal year.

Five9 declared that its board has initiated a stock repurchase program on Tuesday, November 11th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the software maker to purchase up to 3.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on FIVN shares. Cantor Fitzgerald reduced their target price on shares of Five9 from $36.00 to $32.00 and set an “overweight” rating for the company in a research note on Friday, November 7th. Barclays lowered their target price on shares of Five9 from $33.00 to $29.00 and set an “overweight” rating on the stock in a report on Friday, November 7th. Piper Sandler cut their price target on Five9 from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Friday, November 7th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Five9 in a research report on Monday. Finally, Wall Street Zen cut Five9 from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 15th. Thirteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Five9 presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.19.

Insider Buying and Selling

In other Five9 news, insider Tiffany N. Meriweather sold 7,861 shares of the business’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $25.72, for a total value of $202,184.92. Following the sale, the insider directly owned 218,978 shares in the company, valued at $5,632,114.16. The trade was a 3.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Andy Dignan sold 7,614 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $25.48, for a total value of $194,004.72. Following the transaction, the president owned 218,125 shares of the company’s stock, valued at $5,557,825. The trade was a 3.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 53,738 shares of company stock worth $1,380,677 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Five9

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Herald Investment Management Ltd boosted its holdings in shares of Five9 by 24.4% in the 2nd quarter. Herald Investment Management Ltd now owns 262,000 shares of the software maker’s stock valued at $6,927,000 after buying an additional 51,400 shares in the last quarter. Fox Run Management L.L.C. lifted its position in Five9 by 68.7% during the second quarter. Fox Run Management L.L.C. now owns 31,508 shares of the software maker’s stock valued at $834,000 after acquiring an additional 12,826 shares during the last quarter. Rock Creek Group LP purchased a new stake in Five9 during the second quarter valued at approximately $1,986,000. Gagnon Securities LLC boosted its stake in Five9 by 7.5% in the second quarter. Gagnon Securities LLC now owns 407,452 shares of the software maker’s stock valued at $10,789,000 after acquiring an additional 28,393 shares in the last quarter. Finally, Asset Management One Co. Ltd. purchased a new position in Five9 in the second quarter worth $297,000. 96.64% of the stock is currently 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.