Five9 Inc. (FIVN) Sees Large Volume Increase
Five9 Inc. (NASDAQ:FIVN) shares saw unusually-high trading volume on Tuesday . Approximately 706,175 shares were traded during mid-day trading, an increase of 19% from the previous session’s volume of 594,924 shares.The stock last traded at $14.00 and had previously closed at $14.37.
FIVN has been the subject of a number of research analyst reports. Needham & Company LLC raised their price target on Five9 from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Barclays PLC restated a “buy” rating on shares of Five9 in a research report on Sunday, July 17th. Bank of America Corp. cut Five9 from a “neutral” rating to an “underperform” rating in a research report on Tuesday. Finally, Craig Hallum initiated coverage on Five9 in a research report on Thursday, June 9th. They issued a “buy” rating and a $16.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $13.44.
The company’s market capitalization is $744.16 million. The company has a 50 day moving average price of $14.16 and a 200-day moving average price of $11.21.
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Five9 (NASDAQ:FIVN) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.05. Five9 had a negative return on equity of 65.04% and a negative net margin of 12.36%. The company earned $38.90 million during the quarter, compared to analyst estimates of $36.86 million. During the same quarter in the previous year, the firm posted ($0.10) EPS. The firm’s quarterly revenue was up 31.7% on a year-over-year basis. On average, equities analysts expect that Five9 Inc. will post ($0.14) earnings per share for the current year.
In other Five9 news, CFO Barry Zwarenstein sold 8,000 shares of the business’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $11.82, for a total transaction of $94,560.00. Following the completion of the transaction, the chief financial officer now owns 422,508 shares in the company, valued at approximately $4,994,044.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Burkland sold 24,000 shares of the business’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $14.40, for a total value of $345,600.00. Following the transaction, the chief executive officer now owns 953,000 shares of the company’s stock, valued at approximately $13,723,200. The disclosure for this sale can be found here. Company insiders own 40.20% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Gagnon Advisors LLC acquired a new position in shares of Five9 during the first quarter worth about $1,634,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Five9 during the second quarter worth about $115,000. Geode Capital Management LLC raised its position in shares of Five9 by 17.8% in the first quarter. Geode Capital Management LLC now owns 215,839 shares of the company’s stock worth $1,917,000 after buying an additional 32,668 shares during the period. Goldman Sachs Group Inc. acquired a new position in shares of Five9 during the first quarter worth about $189,000. Finally, Emerald Acquisition Ltd. acquired a new position in shares of Five9 during the second quarter worth about $4,268,000. Institutional investors own 83.84% of the company’s stock.
Five9 Inc (Five9) is a provider of cloud software for contact centers. The Company’s purpose-built Virtual Contact Center (VCC) cloud platform delivers a suite of applications that enable the breadth of contact center-related customer service, sales and marketing functions. It facilitates over three billion interactions between its 2,000 clients and clients’ customers per year.
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