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

Five9, Inc. (NASDAQ:FIVN) was the recipient of unusually large options trading activity on Tuesday. Traders acquired 8,504 call options on the company. This is an increase of approximately 2,115% compared to the average volume of 384 call options.

Five9 Price Performance

Shares of NASDAQ FIVN opened at $52.24 on Thursday. The stock has a fifty day moving average of $58.30 and a 200-day moving average of $68.03. The stock has a market cap of $3.86 billion, a PE ratio of -61.46 and a beta of 0.85. The company has a debt-to-equity ratio of 2.41, a quick ratio of 7.02 and a current ratio of 7.02. Five9 has a fifty-two week low of $51.77 and a fifty-two week high of $92.40.

Five9 (NASDAQ:FIVN) last released its quarterly earnings data on Wednesday, February 21st. The software maker reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.14. Five9 had a negative net margin of 6.56% and a negative return on equity of 9.09%. The company had revenue of $239.06 million during the quarter, compared to analyst estimates of $237.64 million. Equities research analysts anticipate that Five9 will post -0.23 earnings per share for the current year.

Analysts Set New Price Targets

FIVN has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price target on shares of Five9 from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. KeyCorp dropped their price target on Five9 from $93.00 to $86.00 and set an “overweight” rating on the stock in a research note on Thursday, February 22nd. Morgan Stanley reduced their price target on shares of Five9 from $80.00 to $70.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. Canaccord Genuity Group dropped their price objective on shares of Five9 from $90.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Finally, UBS Group lowered their price objective on Five9 from $90.00 to $81.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $84.88.

Insiders Place Their Bets

In other news, COO Andy Dignan sold 7,340 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $57.28, for a total value of $420,435.20. Following the completion of the transaction, the chief operating officer now owns 129,559 shares of the company’s stock, valued at $7,421,139.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Five9

Several large investors have recently added to or reduced their stakes in FIVN. Sylebra Capital LLC purchased a new position in Five9 in the 3rd quarter worth approximately $129,467,000. Norges Bank purchased a new position in Five9 in the 4th quarter worth $79,035,000. Assenagon Asset Management S.A. increased its holdings in shares of Five9 by 84.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 837,856 shares of the software maker’s stock worth $65,931,000 after buying an additional 383,002 shares during the period. Balyasny Asset Management L.P. lifted its stake in shares of Five9 by 123.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 648,441 shares of the software maker’s stock valued at $51,026,000 after acquiring an additional 358,887 shares during the last quarter. Finally, UBS Group AG grew its position in Five9 by 162.6% during the 3rd quarter. UBS Group AG now owns 533,914 shares of the software maker’s stock worth $34,331,000 after acquiring an additional 330,567 shares during the last quarter. Institutional investors own 96.64% of the company’s stock.

About Five9

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States 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.