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

Posted by Defense World Staff on Apr 26th, 2023

Five9, Inc. (NASDAQ:FIVN – Get Rating) was the target of some unusual options trading on Tuesday. Traders purchased 8,504 call options on the company. This represents an increase of approximately 2,115% compared to the average daily volume of 384 call options.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FIVN. Piper Sandler increased their target price on Five9 from $61.00 to $89.00 in a report on Tuesday, January 3rd. Jefferies Financial Group downgraded Five9 from a “buy” rating to a “hold” rating and increased their target price for the stock from $55.00 to $65.00 in a report on Thursday, January 5th. Rosenblatt Securities started coverage on Five9 in a report on Thursday, March 23rd. They set a “buy” rating and a $85.00 target price on the stock. Wells Fargo & Company raised their price target on Five9 from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 23rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of Five9 in a report on Thursday, February 23rd. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Five9 has a consensus rating of “Moderate Buy” and an average price target of $84.68.

Five9 Stock Down 5.1 %

Shares of FIVN stock opened at $62.28 on Wednesday. Five9 has a 1 year low of $46.61 and a 1 year high of $120.39. The stock has a market cap of $4.46 billion, a PE ratio of -46.13 and a beta of 0.73. The business’s fifty day moving average is $68.61 and its 200-day moving average is $67.11. The company has a debt-to-equity ratio of 2.38, a quick ratio of 5.16 and a current ratio of 5.16.

Insider Activity

In other Five9 news, CFO Barry Zwarenstein sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $71.23, for a total transaction of $712,300.00. Following the completion of the sale, the chief financial officer now owns 97,303 shares in the company, valued at approximately $6,930,892.69. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Five9 news, EVP Panos Kozanian sold 1,378 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $69.00, for a total transaction of $95,082.00. Following the completion of the sale, the executive vice president now owns 113,789 shares in the company, valued at approximately $7,851,441. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Barry Zwarenstein sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $71.23, for a total value of $712,300.00. Following the sale, the chief financial officer now owns 97,303 shares of the company’s stock, valued at approximately $6,930,892.69. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,514 shares of company stock worth $2,409,180. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Five9

Several hedge funds have recently modified their holdings of FIVN. First Horizon Advisors Inc. grew its holdings in shares of Five9 by 54.2% in the 4th quarter. First Horizon Advisors Inc. now owns 404 shares of the software maker’s stock worth $27,000 after acquiring an additional 142 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Five9 by 247.0% in the 4th quarter. Parallel Advisors LLC now owns 406 shares of the software maker’s stock worth $28,000 after acquiring an additional 289 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Five9 by 1,013.2% in the 4th quarter. Quadrant Capital Group LLC now owns 423 shares of the software maker’s stock worth $29,000 after acquiring an additional 385 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Five9 in the 1st quarter worth $29,000. Finally, Lindbrook Capital LLC grew its holdings in shares of Five9 by 50.6% in the 4th quarter. Lindbrook Capital LLC now owns 482 shares of the software maker’s stock worth $33,000 after acquiring an additional 162 shares during the last quarter.

About Five9

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Five9, Inc engages in the provision of cloud software for contact centers. It specializes in omnichannel routing, analytics, workforce organization and reporting. The company was founded in December 2001 and is headquartered in San Ramon, CA.