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

Five9, Inc. (NASDAQ:FIVN) saw some unusual options trading activity on Tuesday. Stock investors acquired 8,504 call options on the company. This represents an increase of approximately 2,115% compared to the typical daily volume of 384 call options.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. KeyCorp decreased their price objective on Five9 from $93.00 to $86.00 and set an “overweight” rating on the stock in a report on Thursday, February 22nd. Piper Sandler increased their price objective on shares of Five9 from $84.00 to $86.00 and gave the company an “overweight” rating in a research report on Friday, January 12th. UBS Group dropped their price objective on shares of Five9 from $90.00 to $81.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Morgan Stanley decreased their target price on shares of Five9 from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. Finally, Royal Bank of Canada began coverage on Five9 in a research report on Friday, March 15th. They issued an “outperform” rating and a $80.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.88.

Five9 Stock Down 3.8 %

Shares of NASDAQ FIVN opened at $54.32 on Thursday. Five9 has a 52-week low of $51.01 and a 52-week high of $92.40. The firm has a market capitalization of $4.01 billion, a price-to-earnings ratio of -63.91 and a beta of 0.85. The stock has a 50 day moving average price of $59.61 and a 200 day moving average price of $68.36. 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 (NASDAQ:FIVN) last released its quarterly earnings data on Wednesday, February 21st. The software maker reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.14. The company had revenue of $239.06 million during the quarter, compared to analyst estimates of $237.64 million. Five9 had a negative net margin of 6.56% and a negative return on equity of 9.09%. Sell-side analysts expect that Five9 will post -0.42 earnings per share for the current year.

Insider Activity at Five9

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

Institutional Trading of Five9

Hedge funds have recently bought and sold shares of the stock. Sylebra Capital LLC acquired a new position in shares of Five9 in the 3rd quarter valued at about $129,467,000. Norges Bank acquired a new position in shares of Five9 in the 4th quarter valued at $79,035,000. Assenagon Asset Management S.A. grew its position in Five9 by 84.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 837,856 shares of the software maker’s stock valued at $65,931,000 after buying an additional 383,002 shares during the period. Balyasny Asset Management L.P. increased its holdings in Five9 by 123.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 648,441 shares of the software maker’s stock valued at $51,026,000 after buying an additional 358,887 shares in the last quarter. Finally, UBS Group AG boosted its stake in shares of 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 in the last quarter. Hedge funds and other 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.