Five9 Target of Unusually Large Options Trading (NASDAQ:FIVN)

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

Five9 Stock Performance

NASDAQ:FIVN opened at $37.46 on Wednesday. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of -74.92, a price-to-earnings-growth ratio of 28.33 and a beta of 0.92. Five9 has a 1-year low of $26.60 and a 1-year high of $81.24. The firm’s fifty day moving average price is $40.28 and its 200 day moving average price is $36.41. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85.

Insiders Place Their Bets

In other news, COO Andy Dignan sold 4,109 shares of Five9 stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $41.85, for a total value of $171,961.65. Following the sale, the chief operating officer now directly owns 115,818 shares of the company’s stock, valued at $4,846,983.30. The trade was a 3.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Panos Kozanian sold 7,619 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $42.09, for a total transaction of $320,683.71. Following the sale, the executive vice president now directly owns 69,009 shares of the company’s stock, valued at approximately $2,904,588.81. This represents a 9.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,004 shares of company stock valued at $1,209,279. 1.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Five9

Institutional investors have recently added to or reduced their stakes in the business. Scalar Gauge Management LLC purchased a new position in shares of Five9 in the 2nd quarter valued at about $6,990,000. Massachusetts Financial Services Co. MA raised its stake in Five9 by 14.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,667,922 shares of the software maker’s stock valued at $47,919,000 after purchasing an additional 210,836 shares during the last quarter. King Luther Capital Management Corp acquired a new stake in shares of Five9 during the 2nd quarter worth about $2,062,000. Vestcor Inc boosted its position in Five9 by 42.9% during the third quarter. Vestcor Inc now owns 50,000 shares of the software maker’s stock worth $1,437,000 after acquiring an additional 15,000 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Five9 by 14.9% in the third quarter. Fisher Asset Management LLC now owns 761,966 shares of the software maker’s stock valued at $21,891,000 after purchasing an additional 98,543 shares during the period. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. DA Davidson raised their target price on Five9 from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Robert W. Baird increased their target price on shares of Five9 from $40.00 to $43.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Wells Fargo & Company cut Five9 from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $55.00 to $40.00 in a research note on Tuesday, November 12th. Rosenblatt Securities boosted their target price on shares of Five9 from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Piper Sandler upped their price target on Five9 from $35.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Five9 presently has an average rating of “Moderate Buy” and an average target price of $58.18.

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.