Stock Traders Purchase High Volume of Call Options on Five9 (NASDAQ:FIVN)

Five9, Inc. (NASDAQ:FIVN - Get Free Report) was the recipient of some unusual options trading on Tuesday. Stock traders acquired 8,504 call options on the stock. This is an increase of 2,115% compared to the average daily volume of 384 call options.

Insider Activity at Five9

In other news, CAO Leena Mansharamani sold 1,395 shares of the business's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $30.51, for a total value of $42,561.45. Following the completion of the transaction, the chief accounting officer now directly owns 36,872 shares of the company's stock, valued at $1,124,964.72. The trade was a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Panos Kozanian sold 7,617 shares of the stock in a transaction on Wednesday, September 4th. The shares were 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 approximately $2,300,372.56. The trade was a 9.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,493 shares of company stock valued at $1,097,753 in the last ninety days. Corporate insiders own 1.80% of the company's stock.

Institutional Trading of Five9

A number of hedge funds have recently made changes to their positions in FIVN. Signaturefd LLC increased its holdings in shares of Five9 by 1,892.3% in the 3rd quarter. Signaturefd LLC now owns 1,036 shares of the software maker's stock valued at $30,000 after acquiring an additional 984 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Five9 during the second quarter worth about $57,000. Quest Partners LLC acquired a new stake in shares of Five9 in the third quarter valued at approximately $95,000. nVerses Capital LLC acquired a new stake in Five9 in the 3rd quarter valued at approximately $141,000. Finally, Quent Capital LLC raised its stake in shares of Five9 by 8.7% during the second quarter. Quent Capital LLC now owns 4,379 shares of the software maker's stock valued at $193,000 after purchasing an additional 352 shares in the last quarter. Institutional investors and hedge funds own 96.64% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on FIVN shares. Piper Sandler upped their target price on Five9 from $35.00 to $46.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Bank of America raised shares of Five9 from an "underperform" rating to a "buy" rating and set a $63.00 price target for the company in a research report on Monday, August 5th. Rosenblatt Securities lifted their price target on shares of Five9 from $45.00 to $50.00 and gave the company a "buy" rating in a report on Friday, November 8th. Needham & Company LLC restated a "buy" rating and set a $48.00 price objective on shares of Five9 in a report on Friday, November 8th. Finally, DA Davidson lifted their target price on Five9 from $40.00 to $45.00 and gave the company a "neutral" rating in a report on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $59.22.

Five9 Stock Up 0.8 %

NASDAQ FIVN traded up $0.32 during mid-day trading on Wednesday, reaching $38.00. 1,050,884 shares of the company's stock traded hands, compared to its average volume of 1,530,589. The company has a fifty day simple moving average of $30.76 and a 200-day simple moving average of $38.13. Five9 has a 1-year low of $26.60 and a 1-year high of $92.40. The company has a market cap of $2.86 billion, a price-to-earnings ratio of -75.36, a P/E/G ratio of 22.98 and a beta of 0.85. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.32.

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.