Wells Fargo & Company Downgrades Five9 (NASDAQ:FIVN) to Equal Weight

Wells Fargo & Company cut shares of Five9 (NASDAQ:FIVN - Free Report) from an overweight rating to an equal weight rating in a research note published on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has $40.00 target price on the software maker's stock, down from their previous target price of $55.00.

Other equities research analysts have also recently issued research reports about the stock. Bank of America raised shares of Five9 from an "underperform" rating to a "buy" rating and set a $63.00 price objective on the stock in a research note on Monday, August 5th. Truist Financial reiterated a "buy" rating and set a $65.00 price target on shares of Five9 in a research note on Tuesday, August 27th. Roth Mkm decreased their price target on shares of Five9 from $90.00 to $67.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. StockNews.com upgraded Five9 from a "sell" rating to a "hold" rating in a research note on Thursday, August 8th. Finally, Baird R W cut Five9 from a "strong-buy" rating to a "hold" rating in a report on Friday, August 9th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, Five9 currently has an average rating of "Moderate Buy" and an average target price of $59.22.

Five9 Trading Down 0.8 %

Five9 stock traded down $0.30 during mid-day trading on Tuesday, hitting $39.37. The company's stock had a trading volume of 1,598,090 shares, compared to its average volume of 1,498,706. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.15 and a current ratio of 2.15. The stock has a market cap of $2.94 billion, a PE ratio of -79.34 and a beta of 0.85. The company has a 50 day moving average of $29.61 and a 200-day moving average of $38.95. Five9 has a one year low of $26.60 and a one year high of $92.40.

Insider Transactions at Five9

In related news, CFO Barry Zwarenstein sold 4,408 shares of the business's stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $26.97, for a total value of $118,883.76. Following the completion of the transaction, the chief financial officer now directly owns 101,732 shares in the company, valued at $2,743,712.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Five9 news, CFO Barry Zwarenstein sold 4,408 shares of the firm's stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $26.97, for a total transaction of $118,883.76. Following the sale, the chief financial officer now owns 101,732 shares in the company, valued at approximately $2,743,712.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Daniel P. Burkland sold 2,605 shares of the business's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $33.41, for a total transaction of $87,033.05. Following the completion of the sale, the executive now owns 132,554 shares in the company, valued at approximately $4,428,629.14. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,493 shares of company stock valued at $1,097,753. Company insiders own 1.80% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Neo Ivy Capital Management purchased a new stake in shares of Five9 in the 2nd quarter valued at $2,177,000. Scalar Gauge Management LLC purchased a new stake in Five9 during the 2nd quarter worth about $6,990,000. King Luther Capital Management Corp purchased a new position in shares of Five9 during the second quarter worth approximately $2,062,000. Van Berkom & Associates Inc. increased its stake in Five9 by 52.3% in the 2nd quarter. Van Berkom & Associates Inc. now owns 1,299,483 shares of the software maker's stock valued at $57,307,000 after buying an additional 446,151 shares during the period. Finally, Lecap Asset Management Ltd. purchased a new stake in shares of Five9 during the 3rd quarter worth $1,714,000. 96.64% of the stock is currently owned by institutional investors.

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.