Five9 (NASDAQ:FIVN) Stock Rating Lowered by Wells Fargo & Company

Five9 (NASDAQ:FIVN) was downgraded by research analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Tuesday, MarketBeat.com reports. They presently have a $40.00 target price on the software maker’s stock, down from their previous target price of $55.00. Wells Fargo & Company‘s price target indicates a potential downside of 0.87% from the company’s previous close.

FIVN has been the subject of several other reports. Robert W. Baird raised their target price on shares of Five9 from $40.00 to $43.00 and gave the company a “neutral” rating in a report on Monday. Truist Financial reaffirmed a “buy” rating and issued a $65.00 target price on shares of Five9 in a research note on Tuesday, August 27th. Barclays dropped their price target on Five9 from $75.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Bank of America raised Five9 from an “underperform” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Monday, August 5th. Finally, Piper Sandler boosted their target price on shares of Five9 from $35.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. 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 an average target price of $59.22.

Five9 Stock Up 2.8 %

Five9 stock opened at $40.35 on Tuesday. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of -80.70, a price-to-earnings-growth ratio of 26.52 and a beta of 0.85. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.85 and a current ratio of 1.85. Five9 has a fifty-two week low of $26.60 and a fifty-two week high of $92.40. The stock’s fifty day moving average is $29.78 and its two-hundred day moving average is $38.81.

Insiders Place Their Bets

In other news, COO Andy Dignan sold 4,245 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $30.26, for a total transaction of $128,453.70. Following the completion of the sale, the chief operating officer now owns 119,927 shares in the company, valued at approximately $3,628,991.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Five9 news, CFO Barry Zwarenstein sold 4,408 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $26.97, for a total value of $118,883.76. Following the transaction, the chief financial officer now directly owns 101,732 shares of the company’s stock, valued at $2,743,712.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Andy Dignan sold 4,245 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $30.26, for a total value of $128,453.70. Following the transaction, the chief operating officer now owns 119,927 shares in the company, valued at approximately $3,628,991.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,493 shares of company stock worth $1,097,753 over the last three months. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Five9

Hedge funds have recently modified their holdings of the stock. Signaturefd LLC grew its position in Five9 by 1,892.3% in the third quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock valued at $30,000 after acquiring an additional 984 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Five9 during the 2nd quarter worth $57,000. Quest Partners LLC acquired a new position in Five9 in the 3rd quarter worth $95,000. Cetera Advisors LLC purchased a new position in Five9 in the 1st quarter valued at about $226,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Five9 during the first quarter valued at about $247,000. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

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.