Five9 (NASDAQ:FIVN) Stock Rating Lowered by Wells Fargo & Company

Wells Fargo & Company lowered shares of Five9 (NASDAQ:FIVN) from an overweight rating to an equal weight rating in a report issued on Tuesday, Marketbeat reports. They currently have $40.00 price objective on the software maker’s stock, down from their previous price objective of $55.00.

A number of other research analysts also recently commented on the company. Robert W. Baird boosted their price target on Five9 from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Monday. BTIG Research dropped their price target on Five9 from $100.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 price target on shares of Five9 in a research note on Friday, November 8th. Roth Mkm dropped their price target on Five9 from $90.00 to $67.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Truist Financial reissued a “buy” rating and set a $65.00 target price on shares of Five9 in a research note on Tuesday, August 27th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $59.22.

Five9 Price Performance

FIVN stock traded down $0.83 during midday trading on Tuesday, reaching $38.13. The company had a trading volume of 608,767 shares, compared to its average volume of 1,525,832. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of -77.92, a price-to-earnings-growth ratio of 26.49 and a beta of 0.85. The stock has a 50 day moving average price of $29.99 and a 200-day moving average price of $38.82. Five9 has a 1-year low of $26.60 and a 1-year high of $92.40. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85.

Insider Transactions at Five9

In related news, EVP Panos Kozanian sold 7,617 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 76,628 shares in the company, valued at $2,300,372.56. This represents a 9.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Leena Mansharamani sold 1,395 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $30.51, for a total value of $42,561.45. Following the completion of the sale, the chief accounting officer now owns 36,872 shares in the company, valued at $1,124,964.72. The trade was a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,493 shares of company stock worth $1,097,753. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Five9

A number of institutional investors and hedge funds have recently modified their holdings of the business. Sei Investments Co. raised its position in shares of Five9 by 5.4% during the first quarter. Sei Investments Co. now owns 192,209 shares of the software maker’s stock worth $11,938,000 after purchasing an additional 9,816 shares during the period. ProShare Advisors LLC acquired a new position in shares of Five9 during the first quarter worth approximately $247,000. State Board of Administration of Florida Retirement System raised its position in shares of Five9 by 1.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 76,495 shares of the software maker’s stock worth $4,751,000 after purchasing an additional 745 shares during the period. Vanguard Group Inc. raised its position in shares of Five9 by 2.1% during the first quarter. Vanguard Group Inc. now owns 7,437,575 shares of the software maker’s stock worth $461,948,000 after purchasing an additional 150,786 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in shares of Five9 during the first quarter worth approximately $264,000. 96.64% of the stock is currently owned by institutional investors.

Five9 Company Profile

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.