Stock Traders Buy High Volume of Call Options on Five9 (NASDAQ:FIVN)

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

Five9 Price Performance

Shares of NASDAQ FIVN opened at $40.64 on Thursday. The stock has a market cap of $3.06 billion, a P/E ratio of -81.28, a P/E/G ratio of 28.88 and a beta of 0.92. The firm’s 50-day simple moving average is $38.65 and its 200 day simple moving average is $36.57. Five9 has a fifty-two week low of $26.60 and a fifty-two week high of $81.24. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32.

Insider Activity at Five9

In related news, EVP Panos Kozanian sold 7,619 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $42.09, for a total transaction of $320,683.71. Following the completion of the sale, the executive vice president now directly owns 69,009 shares of the company’s stock, valued at approximately $2,904,588.81. This trade represents a 9.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Leena Mansharamani sold 1,346 shares of Five9 stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $41.33, for a total transaction of $55,630.18. Following the sale, the chief accounting officer now directly owns 35,526 shares in the company, valued at $1,468,289.58. This trade represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,004 shares of company stock worth $1,209,279. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Five9

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Signaturefd LLC increased its stake in shares of Five9 by 1,892.3% during the third quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock valued at $30,000 after acquiring an additional 984 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Five9 during the 2nd quarter valued at $57,000. Quest Partners LLC bought a new position in Five9 during the 3rd quarter valued at $95,000. nVerses Capital LLC acquired a new position in shares of Five9 during the 3rd quarter valued at $141,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Five9 in the 3rd quarter worth $145,000. 96.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on FIVN. Truist Financial restated a “buy” rating and set a $65.00 price objective on shares of Five9 in a report on Tuesday, December 17th. Morgan Stanley lifted their price target on shares of Five9 from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 18th. Robert W. Baird increased their price objective on shares of Five9 from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Piper Sandler boosted their target price on shares of Five9 from $35.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Needham & Company LLC increased their price target on shares of Five9 from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $58.18.

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.