Five9, Inc. (NASDAQ:FIVN) Sees Large Growth in Short Interest

Five9, Inc. (NASDAQ:FIVN) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 8,570,000 shares, an increase of 16.4% from the October 15th total of 7,360,000 shares. Based on an average daily trading volume, of 1,780,000 shares, the days-to-cover ratio is currently 4.8 days.

Analyst Ratings Changes

A number of research analysts recently commented on FIVN shares. Rosenblatt Securities upped their price target on shares of Five9 from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, November 8th. DA Davidson increased their target price on Five9 from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Barclays reduced their price target on Five9 from $75.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Piper Sandler increased their price objective on Five9 from $35.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, BTIG Research reduced their target price on shares of Five9 from $100.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Five9 currently has an average rating of “Moderate Buy” and a consensus target price of $59.22.

Insider Buying and Selling at Five9

In other Five9 news, EVP Panos Kozanian sold 7,617 shares of Five9 stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $30.02, for a total value of $228,662.34. Following the sale, the executive vice president now directly owns 76,628 shares in the company, valued at approximately $2,300,372.56. The trade was a 9.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Daniel P. Burkland sold 2,605 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $33.41, for a total value of $87,033.05. Following the sale, the executive now owns 132,554 shares in the company, valued at $4,428,629.14. The trade was a 1.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,493 shares of company stock valued at $1,097,753. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Five9

Hedge funds have recently modified their holdings of the company. Vestcor Inc raised its position in Five9 by 42.9% in the third quarter. Vestcor Inc now owns 50,000 shares of the software maker’s stock worth $1,437,000 after acquiring an additional 15,000 shares during the period. Bullseye Asset Management LLC grew its holdings in Five9 by 13.7% during the third quarter. Bullseye Asset Management LLC now owns 103,768 shares of the software maker’s stock valued at $2,981,000 after purchasing an additional 12,500 shares during the period. Barclays PLC raised its stake in shares of Five9 by 215.8% in the third quarter. Barclays PLC now owns 242,187 shares of the software maker’s stock valued at $6,956,000 after buying an additional 165,487 shares during the period. Y Intercept Hong Kong Ltd lifted its position in shares of Five9 by 371.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 84,112 shares of the software maker’s stock valued at $2,417,000 after buying an additional 66,286 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Five9 during the 3rd quarter worth $629,000. Institutional investors own 96.64% of the company’s stock.

Five9 Price Performance

Shares of FIVN opened at $38.07 on Monday. The business’s fifty day moving average is $30.36 and its 200 day moving average is $38.54. Five9 has a 12-month low of $26.60 and a 12-month high of $92.40. 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 stock has a market cap of $2.86 billion, a P/E ratio of -76.14, a P/E/G ratio of 22.98 and a beta of 0.85.

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.