Five9 (NASDAQ:FIVN) Sets New 1-Year Low After Insider Selling

Shares of Five9, Inc. (NASDAQ:FIVN) hit a new 52-week low during trading on Friday after an insider sold shares in the company. The stock traded as low as $28.68 and last traded at $28.71, with a volume of 1101268 shares. The stock had previously closed at $29.58.

Specifically, EVP Panos Kozanian sold 7,617 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $30.02, for a total value of $228,662.34. Following the completion of the sale, the executive vice president now owns 76,628 shares of the company’s stock, valued at $2,300,372.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO Daniel P. Burkland sold 3,628 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $30.57, for a total transaction of $110,907.96. Following the transaction, the executive now directly owns 128,926 shares in the company, valued at $3,941,267.82. The disclosure for this sale can be found here. In related news, COO Andy Dignan sold 4,245 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $30.26, for a total value of $128,453.70. Following the completion of the sale, the chief operating officer now owns 119,927 shares in the company, valued at $3,628,991.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

FIVN has been the topic of a number of research analyst reports. Truist Financial reiterated a “buy” rating and set a $65.00 target price on shares of Five9 in a research report on Tuesday, August 27th. Piper Sandler restated an “overweight” rating and set a $47.00 target price on shares of Five9 in a research report on Wednesday, August 21st. Bank of America raised shares of Five9 from an “underperform” rating to a “buy” rating and set a $63.00 price objective for the company in a research note on Monday, August 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 target price on shares of Five9 in a research note on Wednesday, August 21st. Finally, Rosenblatt Securities dropped their price target on Five9 from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.35.

Five9 Stock Down 3.3 %

The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of -33.66 and a beta of 0.86. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 1.39. The firm has a 50 day moving average price of $38.71 and a two-hundred day moving average price of $49.07.

Five9 (NASDAQ:FIVN) last released its earnings results on Thursday, August 8th. The software maker reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.14. The company had revenue of $252.09 million during the quarter, compared to analysts’ expectations of $244.54 million. Five9 had a negative return on equity of 6.59% and a negative net margin of 5.44%. As a group, sell-side analysts expect that Five9, Inc. will post -0.09 earnings per share for the current year.

Institutional Investors Weigh In On Five9

Institutional investors and hedge funds have recently made changes to their positions in the company. Quent Capital LLC raised its stake in Five9 by 8.7% during the second quarter. Quent Capital LLC now owns 4,379 shares of the software maker’s stock worth $193,000 after acquiring an additional 352 shares during the period. Inceptionr LLC acquired a new stake in shares of Five9 during the 4th quarter worth approximately $215,000. Cetera Advisors LLC bought a new stake in shares of Five9 in the 1st quarter worth approximately $226,000. KLR Investment Advisors LLC acquired a new position in Five9 during the 4th quarter valued at approximately $244,000. Finally, ProShare Advisors LLC acquired a new position in Five9 during the 1st quarter valued at approximately $247,000. 96.64% of the stock is owned by institutional investors and hedge funds.

About Five9

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.