Five9, Inc. (NASDAQ:FIVN) Short Interest Up 21.0% in February

Five9, Inc. (NASDAQ:FIVN) was the recipient of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 6,850,000 shares, a growth of 21.0% from the February 13th total of 5,660,000 shares. Based on an average trading volume of 1,480,000 shares, the short-interest ratio is presently 4.6 days. Currently, 9.3% of the company’s shares are sold short.

Insiders Place Their Bets

In other Five9 news, CAO Leena Mansharamani sold 1,135 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $30.20, for a total transaction of $34,277.00. Following the transaction, the chief accounting officer now owns 47,165 shares in the company, valued at approximately $1,424,383. This trade represents a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Burkland sold 12,595 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $35.63, for a total value of $448,759.85. Following the completion of the sale, the chief executive officer now directly owns 404,056 shares of the company’s stock, valued at approximately $14,396,515.28. This trade represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,874 shares of company stock valued at $985,446. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Five9

A number of hedge funds and other institutional investors have recently modified their holdings of FIVN. Norges Bank bought a new position in shares of Five9 during the fourth quarter worth approximately $81,280,000. Ameriprise Financial Inc. increased its stake in Five9 by 353.3% during the 4th quarter. Ameriprise Financial Inc. now owns 2,395,566 shares of the software maker’s stock worth $97,356,000 after acquiring an additional 1,867,137 shares during the period. Sylebra Capital LLC raised its holdings in Five9 by 59.4% in the 4th quarter. Sylebra Capital LLC now owns 3,745,778 shares of the software maker’s stock valued at $152,228,000 after acquiring an additional 1,396,496 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in Five9 in the 4th quarter valued at $51,061,000. Finally, Wellington Management Group LLP lifted its position in shares of Five9 by 50.9% during the 4th quarter. Wellington Management Group LLP now owns 1,783,870 shares of the software maker’s stock valued at $72,496,000 after acquiring an additional 601,348 shares during the period. Institutional investors and hedge funds own 96.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on FIVN shares. Rosenblatt Securities lifted their price target on shares of Five9 from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Barclays boosted their target price on Five9 from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price target on shares of Five9 in a research report on Monday. Piper Sandler boosted their price objective on Five9 from $46.00 to $53.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Finally, Morgan Stanley raised their target price on shares of Five9 from $40.00 to $46.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 18th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Five9 currently has a consensus rating of “Moderate Buy” and an average target price of $56.25.

Five9 Stock Down 1.2 %

Shares of NASDAQ:FIVN traded down $0.35 during midday trading on Tuesday, hitting $29.88. The stock had a trading volume of 1,116,382 shares, compared to its average volume of 1,526,710. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32. The business’s 50-day simple moving average is $37.97 and its 200-day simple moving average is $35.82. Five9 has a 12 month low of $26.60 and a 12 month high of $63.79. The company has a market cap of $2.27 billion, a P/E ratio of -149.39, a PEG ratio of 9.41 and a beta of 1.01.

Five9 (NASDAQ:FIVN) last announced its quarterly earnings results on Thursday, February 20th. The software maker reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.44). The company had revenue of $278.66 million during the quarter, compared to analyst estimates of $267.70 million. Five9 had a negative net margin of 1.23% and a positive return on equity of 3.62%. On average, sell-side analysts forecast that Five9 will post 0.28 earnings per share for the current fiscal year.

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.