Traders Purchase Large Volume of Five9 Call Options (NASDAQ:FIVN)

Five9, Inc. (NASDAQ:FIVN) saw some unusual options trading on Tuesday. Traders acquired 8,504 call options on the company. This is an increase of approximately 2,115% compared to the typical volume of 384 call options.

Insider Transactions at Five9

In other news, COO Andy Dignan sold 7,340 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $57.28, for a total value of $420,435.20. Following the transaction, the chief operating officer now owns 129,559 shares in the company, valued at $7,421,139.52. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Five9

A number of large investors have recently bought and sold shares of FIVN. Sei Investments Co. boosted its position in 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 acquiring an additional 9,816 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Five9 in the first quarter valued at about $1,661,000. Coronation Fund Managers Ltd. boosted its position in shares of Five9 by 13.9% during the 1st quarter. Coronation Fund Managers Ltd. now owns 179,638 shares of the software maker’s stock worth $11,157,000 after purchasing an additional 21,959 shares during the period. RiverPark Advisors LLC grew its stake in shares of Five9 by 29.2% in the first quarter. RiverPark Advisors LLC now owns 28,162 shares of the software maker’s stock valued at $1,749,000 after buying an additional 6,371 shares in the last quarter. Finally, Nordea Investment Management AB purchased a new stake in Five9 during the first quarter worth about $3,239,000. Institutional investors and hedge funds own 96.64% of the company’s stock.

Wall Street Analyst Weigh In

FIVN has been the subject of a number of recent research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price on shares of Five9 in a report on Friday, May 3rd. Canaccord Genuity Group lowered their price target on Five9 from $90.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Wells Fargo & Company cut their price objective on shares of Five9 from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Piper Sandler lifted their price objective on shares of Five9 from $84.00 to $86.00 and gave the company an “overweight” rating in a research report on Friday, January 12th. Finally, Royal Bank of Canada assumed coverage on shares of Five9 in a research report on Friday, March 15th. They set an “outperform” rating and a $80.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $84.88.

Five9 Trading Up 1.4 %

NASDAQ:FIVN opened at $56.45 on Wednesday. Five9 has a 52 week low of $51.01 and a 52 week high of $92.40. The firm has a 50 day moving average of $59.73 and a 200 day moving average of $68.46. The company has a quick ratio of 7.02, a current ratio of 7.02 and a debt-to-equity ratio of 2.41. The stock has a market capitalization of $4.17 billion, a price-to-earnings ratio of -66.41 and a beta of 0.85.

Five9 (NASDAQ:FIVN) last released its earnings results on Wednesday, February 21st. The software maker reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.14. Five9 had a negative return on equity of 9.09% and a negative net margin of 6.56%. The firm had revenue of $239.06 million for the quarter, compared to the consensus estimate of $237.64 million. As a group, sell-side analysts anticipate that Five9 will post -0.42 earnings per share for the current fiscal year.

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.