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

Wells Fargo & Company downgraded shares of Five9 (NASDAQ:FIVN) from an overweight rating to an equal weight rating in a report issued on Tuesday morning, Marketbeat.com reports. They currently have $40.00 price objective on the software maker’s stock, down from their prior price objective of $55.00.

Several other research analysts have also recently issued reports on FIVN. Rosenblatt Securities increased their price objective on Five9 from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. BTIG Research decreased their price objective on shares of Five9 from $100.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Barclays dropped their target price on shares of Five9 from $75.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Bank of America upgraded Five9 from an “underperform” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Monday, August 5th. Finally, StockNews.com raised Five9 from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.22.

Five9 Price Performance

Shares of FIVN opened at $38.07 on Tuesday. The firm has a market capitalization of $2.86 billion, a PE ratio of -76.14, a P/E/G ratio of 26.49 and a beta of 0.85. The stock’s 50 day moving average is $30.18 and its two-hundred day moving average is $38.82. Five9 has a twelve month low of $26.60 and a twelve month high of $92.40. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.32.

Insiders Place Their Bets

In related news, CEO Michael Burkland sold 12,595 shares of the 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 approximately $7,673,081.76. This trade represents a 4.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Daniel P. Burkland sold 2,605 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $33.41, for a total value of $87,033.05. Following the sale, the executive now owns 132,554 shares of the company’s stock, valued at $4,428,629.14. This represents a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,493 shares of company stock valued at $1,097,753 in the last quarter. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Five9

A number of institutional investors and hedge funds have recently bought and sold shares of FIVN. Signaturefd LLC increased its position in shares of Five9 by 1,892.3% in the third quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock worth $30,000 after acquiring an additional 984 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Five9 in the second quarter valued at about $57,000. Quest Partners LLC purchased a new stake in shares of Five9 in the third quarter worth about $95,000. nVerses Capital LLC purchased a new stake in shares of Five9 in the third quarter worth about $141,000. Finally, Quent Capital LLC grew its stake in shares of Five9 by 8.7% in the second quarter. Quent Capital LLC now owns 4,379 shares of the software maker’s stock valued at $193,000 after buying an additional 352 shares in the last quarter. Institutional investors and hedge funds 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, 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.