Insider Selling: Five9 Inc (FIVN) Director Sells 24,000 Shares of Stock
Five9 Inc (NASDAQ:FIVN) Director Michael Burkland sold 24,000 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $23.86, for a total value of $572,640.00. Following the completion of the sale, the director now owns 667,501 shares in the company, valued at $15,926,573.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Michael Burkland also recently made the following trade(s):
- On Monday, November 20th, Michael Burkland sold 24,000 shares of Five9 stock. The stock was sold at an average price of $24.78, for a total value of $594,720.00.
- On Monday, November 13th, Michael Burkland sold 600,000 shares of Five9 stock. The stock was sold at an average price of $24.05, for a total value of $14,430,000.00.
Five9 Inc (NASDAQ:FIVN) traded up $0.29 during trading on Monday, hitting $24.60. The stock had a trading volume of 292,774 shares, compared to its average volume of 465,249. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 1.04. Five9 Inc has a 52-week low of $13.52 and a 52-week high of $27.81.
Several institutional investors have recently bought and sold shares of FIVN. Whale Rock Capital Management LLC acquired a new stake in shares of Five9 in the 2nd quarter worth $21,296,000. Tremblant Capital Group acquired a new stake in Five9 during the 3rd quarter worth about $19,544,000. Vanguard Group Inc. lifted its position in Five9 by 25.5% during the 2nd quarter. Vanguard Group Inc. now owns 3,297,927 shares of the software maker’s stock worth $70,972,000 after acquiring an additional 670,939 shares during the period. Wells Fargo & Company MN lifted its position in Five9 by 31.4% during the 3rd quarter. Wells Fargo & Company MN now owns 1,531,252 shares of the software maker’s stock worth $36,598,000 after acquiring an additional 366,166 shares during the period. Finally, State Street Corp lifted its position in Five9 by 49.3% during the 2nd quarter. State Street Corp now owns 887,639 shares of the software maker’s stock worth $19,103,000 after acquiring an additional 293,067 shares during the period. 93.55% of the stock is owned by hedge funds and other institutional investors.
Several research firms have commented on FIVN. TheStreet upgraded Five9 from a “d” rating to a “c-” rating in a report on Tuesday, November 21st. Needham & Company LLC restated a “buy” rating and set a $30.00 price objective on shares of Five9 in a report on Friday, November 10th. KeyCorp restated an “overweight” rating and set a $29.00 price objective (up from $27.00) on shares of Five9 in a report on Wednesday, November 8th. Northland Securities restated a “buy” rating and set a $25.00 price objective on shares of Five9 in a report on Wednesday, October 4th. Finally, Morgan Stanley increased their target price on Five9 from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Thursday, November 9th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $26.43.
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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