Five9, Inc. (NASDAQ:FIVN) Sees Significant Growth in Short Interest

Five9, Inc. (NASDAQ:FIVN) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 6,850,000 shares, a growth of 21.0% from the February 13th total of 5,660,000 shares. Based on an average daily trading volume, of 1,480,000 shares, the short-interest ratio is presently 4.6 days. Approximately 9.3% of the company’s stock are sold short.

Insiders Place Their Bets

In other news, CAO Leena Mansharamani sold 1,135 shares of Five9 stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $30.20, for a total value of $34,277.00. Following the completion of the sale, the chief accounting officer now directly owns 47,165 shares in the company, valued at $1,424,383. The trade was a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael Burkland sold 12,595 shares of Five9 stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $35.63, for a total transaction of $448,759.85. Following the completion of the sale, the chief executive officer now owns 404,056 shares of the company’s stock, valued at $14,396,515.28. This represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,874 shares of company stock valued at $985,446. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Five9

A number of hedge funds have recently bought and sold shares of FIVN. PNC Financial Services Group Inc. increased its position in Five9 by 10.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,836 shares of the software maker’s stock valued at $156,000 after acquiring an additional 365 shares during the last quarter. Arizona State Retirement System increased its position in Five9 by 2.0% during the fourth quarter. Arizona State Retirement System now owns 21,694 shares of the software maker’s stock valued at $882,000 after acquiring an additional 424 shares during the last quarter. Lindbrook Capital LLC increased its position in Five9 by 155.7% during the fourth quarter. Lindbrook Capital LLC now owns 854 shares of the software maker’s stock valued at $35,000 after acquiring an additional 520 shares during the last quarter. Xponance Inc. grew its holdings in shares of Five9 by 6.1% in the fourth quarter. Xponance Inc. now owns 9,421 shares of the software maker’s stock worth $383,000 after purchasing an additional 539 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in Five9 by 1.8% in the 4th quarter. Treasurer of the State of North Carolina now owns 32,607 shares of the software maker’s stock worth $1,325,000 after buying an additional 590 shares during the period. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on FIVN shares. Barclays lifted their price target on shares of Five9 from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $58.00 price target on shares of Five9 in a research note on Thursday. Needham & Company LLC restated a “buy” rating and set a $52.00 target price on shares of Five9 in a research report on Monday. Truist Financial restated a “buy” rating and set a $65.00 target price on shares of Five9 in a research report on Tuesday, December 17th. Finally, Cantor Fitzgerald boosted their target price on shares of Five9 from $46.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Five9 has a consensus rating of “Moderate Buy” and a consensus price target of $56.76.

Five9 Price Performance

FIVN stock opened at $30.21 on Thursday. Five9 has a one year low of $26.60 and a one year high of $63.79. The company’s fifty day moving average price is $37.61 and its 200-day moving average price is $35.77. 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 company has a market capitalization of $2.29 billion, a PE ratio of -151.04, a price-to-earnings-growth ratio of 9.41 and a beta of 1.01.

Five9 (NASDAQ:FIVN) last released its quarterly earnings results on Thursday, February 20th. The software maker reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.44). The business had revenue of $278.66 million for the quarter, compared to analysts’ expectations of $267.70 million. Five9 had a negative net margin of 1.23% and a positive return on equity of 3.62%. On average, equities analysts anticipate that Five9 will post 0.28 EPS for the current fiscal year.

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.