Five9, Inc. (FIVN) Receives “Buy” Rating from KeyCorp
FIVN has been the topic of a number of other research reports. Canaccord Genuity boosted their price objective on Five9 from $23.00 to $25.00 and gave the stock a buy rating in a research note on Friday, August 4th. BidaskClub lowered Five9 from a strong-buy rating to a buy rating in a research note on Wednesday, June 14th. Northland Securities reissued a buy rating and issued a $25.00 price objective on shares of Five9 in a research note on Friday, September 1st. Needham & Company LLC reissued a buy rating and issued a $26.00 price objective (up previously from $21.00) on shares of Five9 in a research note on Wednesday, August 9th. Finally, Zacks Investment Research raised Five9 from a hold rating to a buy rating and set a $24.00 price objective on the stock in a research note on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. Five9 currently has an average rating of Buy and a consensus price target of $22.88.
Shares of Five9 (FIVN) traded up 1.82% on Friday, hitting $22.41. The stock had a trading volume of 328,998 shares. Five9 has a 52 week low of $12.58 and a 52 week high of $24.80. The company’s market cap is $1.24 billion. The firm has a 50 day moving average price of $21.30 and a 200-day moving average price of $20.44.
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In other news, EVP Daniel P. Burkland sold 10,000 shares of the company’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $22.35, for a total transaction of $223,500.00. Following the transaction, the executive vice president now owns 173,498 shares of the company’s stock, valued at $3,877,680.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Barry Zwarenstein sold 12,622 shares of the company’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $22.44, for a total value of $283,237.68. Following the transaction, the chief financial officer now directly owns 129,742 shares in the company, valued at approximately $2,911,410.48. The disclosure for this sale can be found here. Insiders have sold 103,007 shares of company stock worth $2,215,720 in the last ninety days. 9.10% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA lifted its stake in shares of Five9 by 4,389.5% during the second quarter. BNP Paribas Arbitrage SA now owns 5,567 shares of the software maker’s stock valued at $120,000 after acquiring an additional 5,443 shares during the period. Oxford Asset Management acquired a new position in shares of Five9 during the first quarter valued at $174,000. Tudor Investment Corp ET AL acquired a new position in shares of Five9 during the second quarter valued at $202,000. Principal Financial Group Inc. acquired a new position in shares of Five9 during the second quarter valued at $219,000. Finally, potrero capital research llc acquired a new position in shares of Five9 during the first quarter valued at $227,000. 91.24% of the stock is currently owned by institutional investors and hedge funds.
Five9 Company Profile
Five9 Inc (Five9) is a provider of cloud software for contact centers. The Company’s purpose-built Virtual Contact Center (VCC) cloud platform delivers a suite of applications that enable the breadth of contact center-related customer service, sales and marketing functions. The Company’s solution, which consists of its VCC cloud platform and applications, allows simultaneous management and optimization of customer interactions across voice, chat, e-mail, Web, social media and mobile channels, either directly or through its application programming interfaces (APIs).
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