Five9 (NASDAQ:FIVN) Sees Strong Trading Volume

Five9, Inc. (NASDAQ:FIVN) shares saw unusually-high trading volume on Monday . Approximately 1,224,943 shares were traded during trading, a decline of 11% from the previous session’s volume of 1,374,777 shares.The stock last traded at $31.97 and had previously closed at $31.22.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FIVN shares. Rosenblatt Securities dropped their price target on Five9 from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. UBS Group dropped their price target on Five9 from $90.00 to $81.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Morgan Stanley lowered their target price on Five9 from $70.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Friday, June 14th. Canaccord Genuity Group lowered their target price on Five9 from $90.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Finally, Bank of America upgraded Five9 from an “underperform” rating to a “buy” rating and set a $63.00 price target on the stock in a research note on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.82.

Five9 Stock Performance

The stock has a fifty day simple moving average of $42.12 and a 200-day simple moving average of $54.31. The company has a debt-to-equity ratio of 2.41, a quick ratio of 7.02 and a current ratio of 7.02. The stock has a market cap of $2.38 billion, a P/E ratio of -37.44 and a beta of 0.82.

Insider Buying and Selling at Five9

In related news, CRO Daniel P. Burkland sold 2,637 shares of Five9 stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $43.55, for a total value of $114,841.35. Following the transaction, the executive now directly owns 130,079 shares of the company’s stock, valued at $5,664,940.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Five9 news, CAO Leena Mansharamani sold 1,542 shares of Five9 stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $46.27, for a total value of $71,348.34. Following the completion of the sale, the chief accounting officer now directly owns 38,267 shares of the company’s stock, valued at $1,770,614.09. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CRO Daniel P. Burkland sold 2,637 shares of Five9 stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $43.55, for a total transaction of $114,841.35. Following the completion of the sale, the executive now directly owns 130,079 shares of the company’s stock, valued at $5,664,940.45. The disclosure for this sale can be found here. Insiders have sold a total of 53,385 shares of company stock valued at $2,418,755 in the last three months. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Five9

Several hedge funds and other institutional investors have recently made changes to their positions in FIVN. Nordea Investment Management AB purchased a new position in Five9 during the first quarter worth about $3,239,000. International Assets Investment Management LLC purchased a new position in Five9 in the fourth quarter valued at about $1,684,000. Alberta Investment Management Corp purchased a new position in Five9 in the fourth quarter valued at about $2,254,000. Trexquant Investment LP purchased a new position in Five9 in the fourth quarter valued at about $1,364,000. Finally, Tairen Capital Ltd purchased a new stake in shares of Five9 during the 4th quarter valued at approximately $5,836,000. 96.64% of the stock is owned by institutional investors.

Five9 Company Profile

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States 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.