Five9 Inc. (FIVN) Trading Down 2.3% Following Insider Selling
Five9 Inc. (NASDAQ:FIVN) shares were down 2.3% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $15.45 and last traded at $15.57, with a volume of 113,764 shares. The stock had previously closed at $15.94.
Specifically, CEO Michael Burkland sold 16,000 shares of the firm’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $12.12, for a total transaction of $193,920.00. Following the completion of the sale, the chief executive officer now directly owns 953,000 shares in the company, valued at $11,550,360. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Adams Street Partners Llc sold 1,813,043 shares of the firm’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $13.25, for a total value of $24,022,819.75. The disclosure for this sale can be found here. 40.20% of the stock is owned by company insiders.
Several brokerages have recently weighed in on FIVN. Barclays PLC restated a “buy” rating on shares of Five9 in a research note on Sunday, July 17th. Needham & Company LLC raised their target price on Five9 from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Craig Hallum started coverage on Five9 in a research note on Thursday, June 9th. They set a “buy” rating and a $16.00 target price for the company. Zacks Investment Research upgraded Five9 from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Tuesday. Finally, Bank of America Corp. downgraded Five9 from a “neutral” rating to an “underperform” rating in a research note on Tuesday, September 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $14.56.
The stock has a 50-day moving average price of $14.77 and a 200 day moving average price of $11.78. The firm’s market cap is $817.74 million.
Five9 (NASDAQ:FIVN) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.05. Five9 had a negative net margin of 12.36% and a negative return on equity of 65.04%. The business earned $38.90 million during the quarter, compared to analyst estimates of $36.86 million. During the same quarter in the previous year, the business earned ($0.10) EPS. Five9’s quarterly revenue was up 31.7% compared to the same quarter last year. Equities analysts expect that Five9 Inc. will post ($0.14) EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. acquired a new stake in Five9 during the second quarter valued at about $1,510,000. Royal Bank of Canada raised its position in Five9 by 252.9% in the second quarter. Royal Bank of Canada now owns 24,700 shares of the company’s stock worth $294,000 after buying an additional 17,700 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in Five9 by 28.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 86,610 shares of the company’s stock worth $1,031,000 after buying an additional 18,976 shares in the last quarter. American Century Companies Inc. purchased a new position in Five9 during the second quarter worth $589,000. Finally, Metropolitan Life Insurance Co. NY raised its position in Five9 by 33.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 24,628 shares of the company’s stock worth $293,000 after buying an additional 6,197 shares in the last quarter. 83.84% of the stock is owned by institutional investors and hedge funds.
Five9 Company Profile
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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