Five9, Inc. (NASDAQ:FIVN) Sees Significant Increase 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 presently 4.8 days.

Five9 Trading Down 2.3 %

NASDAQ:FIVN opened at $38.07 on Monday. The company has a market cap of $2.86 billion, a PE ratio of -76.14, a P/E/G ratio of 22.98 and a beta of 0.85. The business’s 50 day moving average is $30.36 and its two-hundred day moving average is $38.54. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32. Five9 has a 52 week low of $26.60 and a 52 week high of $92.40.

Insider Activity at Five9

In other Five9 news, EVP Panos Kozanian sold 7,617 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $30.02, for a total transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Burkland sold 12,595 shares of Five9 stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $30.27, for a total value of $381,250.65. Following the transaction, the chief executive officer now directly owns 253,488 shares of the company’s stock, valued at $7,673,081.76. This trade represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,493 shares of company stock worth $1,097,753 over the last three months. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Five9

Institutional investors and hedge funds have recently made changes to their positions in the company. Sei Investments Co. increased its holdings in shares of Five9 by 5.4% in the 1st quarter. Sei Investments Co. now owns 192,209 shares of the software maker’s stock worth $11,938,000 after acquiring an additional 9,816 shares during the period. ProShare Advisors LLC purchased a new stake in Five9 during the first quarter valued at about $247,000. State Board of Administration of Florida Retirement System boosted its stake in Five9 by 1.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 76,495 shares of the software maker’s stock worth $4,751,000 after purchasing an additional 745 shares during the period. Vanguard Group Inc. boosted its position in shares of Five9 by 2.1% in the first quarter. Vanguard Group Inc. now owns 7,437,575 shares of the software maker’s stock worth $461,948,000 after buying an additional 150,786 shares during the period. Finally, Edgestream Partners L.P. purchased a new position in Five9 during the 1st quarter valued at about $264,000. 96.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on FIVN. Piper Sandler upped their target price on Five9 from $35.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Roth Mkm decreased their price target on shares of Five9 from $90.00 to $67.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Baird R W cut Five9 from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Morgan Stanley lowered their price target on Five9 from $45.00 to $37.00 and set an “equal weight” rating for the company in a report on Tuesday, October 15th. Finally, Northland Securities lowered their price target on shares of Five9 from $95.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.22.

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.