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

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

Insider Transactions at Five9

In other Five9 news, insider Tiffany N. Meriweather sold 7,861 shares of the business’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $25.72, for a total value of $202,184.92. Following the transaction, the insider owned 218,978 shares of the company’s stock, valued at approximately $5,632,114.16. The trade was a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Andy Dignan sold 7,614 shares of the firm’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $25.48, for a total value of $194,004.72. Following the completion of the sale, the president owned 218,125 shares of the company’s stock, valued at approximately $5,557,825. This trade represents a 3.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 53,738 shares of company stock worth $1,380,677. 1.60% of the stock is owned by company insiders.

Institutional Trading of Five9

Institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. raised its position in Five9 by 55.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 48,543 shares of the software maker’s stock valued at $1,318,000 after buying an additional 17,264 shares during the last quarter. Y Intercept Hong Kong Ltd grew its stake in shares of Five9 by 28.0% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 21,612 shares of the software maker’s stock worth $587,000 after acquiring an additional 4,728 shares in the last quarter. Wakefield Asset Management LLLP acquired a new stake in shares of Five9 in the first quarter valued at approximately $939,000. Royce & Associates LP lifted its position in shares of Five9 by 10.2% in the first quarter. Royce & Associates LP now owns 363,520 shares of the software maker’s stock worth $9,870,000 after purchasing an additional 33,760 shares in the last quarter. Finally, Van Berkom & Associates Inc. boosted its holdings in Five9 by 14.2% during the first quarter. Van Berkom & Associates Inc. now owns 2,140,763 shares of the software maker’s stock worth $58,122,000 after purchasing an additional 266,484 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on FIVN shares. Piper Sandler reduced their target price on shares of Five9 from $31.00 to $26.00 and set an “overweight” rating on the stock in a research report on Friday, November 7th. Canaccord Genuity Group restated a “buy” rating and issued a $40.00 price objective on shares of Five9 in a research report on Friday, August 1st. Cantor Fitzgerald reduced their price objective on Five9 from $36.00 to $32.00 and set an “overweight” rating on the stock in a report on Friday, November 7th. Zacks Research cut Five9 from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th. Finally, Wall Street Zen downgraded Five9 from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 15th. Thirteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $35.19.

Five9 Trading Down 1.7%

FIVN opened at $18.28 on Thursday. The firm’s fifty day moving average is $23.06 and its two-hundred day moving average is $25.55. The firm has a market cap of $1.43 billion, a PE ratio of 203.13, a price-to-earnings-growth ratio of 2.20 and a beta of 1.27. Five9 has a twelve month low of $17.97 and a twelve month high of $49.90. The company has a debt-to-equity ratio of 1.04, a quick ratio of 4.44 and a current ratio of 4.44.

Five9 (NASDAQ:FIVN) last announced its quarterly earnings results on Friday, August 22nd. The software maker reported $0.76 earnings per share (EPS) for the quarter. The company had revenue of $283.27 million during the quarter. Five9 had a return on equity of 8.91% and a net margin of 0.80%. Equities research analysts anticipate that Five9 will post 0.28 EPS for the current year.

Five9 declared that its board has initiated a share buyback program on Tuesday, November 11th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the software maker to reacquire up to 3.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

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.