Five9 (NASDAQ:FIVN) CRO Matthew Tuckness Sells 5,255 Shares of Stock

Five9, Inc. (NASDAQ:FIVN) CRO Matthew Tuckness sold 5,255 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $20.35, for a total value of $106,939.25. Following the sale, the executive owned 176,379 shares in the company, valued at approximately $3,589,312.65. The trade was a 2.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Five9 Stock Down 0.4%

Shares of NASDAQ FIVN opened at $20.65 on Friday. 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 company has a market cap of $1.62 billion, a P/E ratio of 57.36, a P/E/G ratio of 1.29 and a beta of 1.35. Five9, Inc. has a 52 week low of $17.71 and a 52 week high of $49.90. The business has a 50-day simple moving average of $21.53 and a two-hundred day simple moving average of $24.95.

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

Five9 declared that its board has authorized a stock repurchase program on Tuesday, November 11th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the software maker to buy up to 3.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in FIVN. Voss Capital LP raised its position in Five9 by 211.4% in the 2nd quarter. Voss Capital LP now owns 3,250,000 shares of the software maker’s stock worth $86,060,000 after purchasing an additional 2,206,173 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Five9 by 292.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,679,356 shares of the software maker’s stock valued at $72,745,000 after buying an additional 1,996,628 shares during the period. Norges Bank bought a new position in shares of Five9 during the second quarter valued at about $39,056,000. Federated Hermes Inc. grew its stake in shares of Five9 by 124,372.3% during the second quarter. Federated Hermes Inc. now owns 830,230 shares of the software maker’s stock valued at $21,984,000 after buying an additional 829,563 shares during the last quarter. Finally, Anson Funds Management LP increased its holdings in shares of Five9 by 98.5% in the third quarter. Anson Funds Management LP now owns 1,534,272 shares of the software maker’s stock worth $37,129,000 after buying an additional 761,486 shares during the period. 96.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FIVN has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Five9 in a report on Monday. Morgan Stanley set a $30.00 price objective on shares of Five9 in a research report on Tuesday, October 21st. Piper Sandler dropped their target price on shares of Five9 from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Friday, November 7th. DA Davidson reissued a “neutral” rating and issued a $28.00 price target on shares of Five9 in a research note on Friday, September 12th. Finally, Zacks Research cut shares of Five9 from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. Thirteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Five9 presently has a consensus rating of “Moderate Buy” and an average price target of $35.19.

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.