Five9 (NASDAQ:FIVN) Cut to “Equal Weight” at Wells Fargo & Company

Wells Fargo & Company lowered shares of Five9 (NASDAQ:FIVN) from an overweight rating to an equal weight rating in a research report report published on Tuesday morning, Marketbeat reports. Wells Fargo & Company currently has $40.00 price target on the software maker’s stock, down from their previous price target of $55.00.

Other research analysts have also issued research reports about the stock. DA Davidson raised their target price on shares of Five9 from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Morgan Stanley cut their price target on shares of Five9 from $45.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 15th. Robert W. Baird increased their price target on shares of Five9 from $40.00 to $43.00 and gave the company a “neutral” rating in a research report on Monday. Rosenblatt Securities raised their target price on shares of Five9 from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Bank of America upgraded shares of Five9 from an “underperform” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Monday, August 5th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Five9 Trading Down 2.1 %

Shares of NASDAQ FIVN traded down $0.83 during mid-day trading on Tuesday, hitting $38.13. The company’s stock had a trading volume of 608,767 shares, compared to its average volume of 1,525,832. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of -77.92, a price-to-earnings-growth ratio of 26.49 and a beta of 0.85. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85. Five9 has a one year low of $26.60 and a one year high of $92.40. The company’s fifty day simple moving average is $29.99 and its 200-day simple moving average is $38.82.

Insider Activity at Five9

In other Five9 news, CAO Leena Mansharamani sold 1,395 shares of Five9 stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $30.51, for a total transaction of $42,561.45. Following the completion of the transaction, the chief accounting officer now directly owns 36,872 shares of the company’s stock, valued at $1,124,964.72. The trade was a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Daniel P. Burkland sold 2,605 shares of Five9 stock in a transaction on Monday, August 26th. The stock was sold at an average price of $33.41, for a total transaction of $87,033.05. Following the transaction, the executive now directly owns 132,554 shares of the company’s stock, valued at approximately $4,428,629.14. This trade represents a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,493 shares of company stock valued at $1,097,753. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Five9

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Neo Ivy Capital Management bought a new position in Five9 during the second quarter worth $2,177,000. Scalar Gauge Management LLC bought a new stake in shares of Five9 in the second quarter valued at about $6,990,000. King Luther Capital Management Corp bought a new stake in shares of Five9 in the second quarter valued at about $2,062,000. Van Berkom & Associates Inc. boosted its position in shares of Five9 by 52.3% in the second quarter. Van Berkom & Associates Inc. now owns 1,299,483 shares of the software maker’s stock valued at $57,307,000 after acquiring an additional 446,151 shares during the period. Finally, Lecap Asset Management Ltd. bought a new stake in shares of Five9 in the third quarter valued at about $1,714,000. 96.64% of the stock is owned by institutional investors.

Five9 Company Profile

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.