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

Five9, Inc. (NASDAQ:FIVN) was the recipient of a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 5,800,000 shares, a drop of 6.8% from the November 30th total of 6,220,000 shares. Based on an average daily trading volume, of 1,640,000 shares, the days-to-cover ratio is presently 3.5 days.

Five9 Stock Performance

Shares of NASDAQ:FIVN traded down $0.08 during trading hours on Wednesday, hitting $40.64. The stock had a trading volume of 554,919 shares, compared to its average volume of 1,490,406. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.85 and a current ratio of 1.85. The stock’s fifty day simple moving average is $38.44 and its 200 day simple moving average is $36.54. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of -81.28, a PEG ratio of 28.88 and a beta of 0.92. Five9 has a 1-year low of $26.60 and a 1-year high of $81.24.

Insider Buying and Selling

In other news, COO Andy Dignan sold 4,109 shares of Five9 stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $41.85, for a total transaction of $171,961.65. Following the completion of the sale, the chief operating officer now directly owns 115,818 shares in the company, valued at approximately $4,846,983.30. This trade represents a 3.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Barry Zwarenstein sold 3,336 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $41.85, for a total value of $139,611.60. Following the completion of the sale, the chief financial officer now owns 98,396 shares in the company, valued at approximately $4,117,872.60. This represents a 3.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,004 shares of company stock worth $1,209,279 in the last quarter. 1.80% of the stock is owned by insiders.

Institutional Trading of Five9

Several hedge funds have recently added to or reduced their stakes in FIVN. Signaturefd LLC lifted its stake in shares of Five9 by 1,892.3% in the 3rd quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock worth $30,000 after acquiring an additional 984 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Five9 in the second quarter worth approximately $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. Institutional investors own 96.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wells Fargo & Company cut shares of Five9 from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $55.00 to $40.00 in a research note on Tuesday, November 12th. Needham & Company LLC lifted their price objective on Five9 from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Robert W. Baird increased their target price on Five9 from $40.00 to $43.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Piper Sandler boosted their price target on Five9 from $35.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, DA Davidson increased their price objective on Five9 from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $58.18.

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.