Five9 (NASDAQ:FIVN) Rating Lowered to Neutral at Robert W. Baird

Robert W. Baird lowered shares of Five9 (NASDAQ:FIVN) from an outperform rating to a neutral rating in a research report released on Friday morning, Marketbeat Ratings reports. The brokerage currently has $40.00 price objective on the software maker’s stock, down from their previous price objective of $90.00.

A number of other brokerages also recently weighed in on FIVN. Canaccord Genuity Group lowered their price objective on shares of Five9 from $90.00 to $75.00 and set a buy rating for the company in a research report on Monday, April 22nd. Piper Sandler decreased their target price on shares of Five9 from $86.00 to $58.00 and set an overweight rating for the company in a research report on Wednesday, July 10th. Morgan Stanley decreased their target price on shares of Five9 from $70.00 to $50.00 and set an equal weight rating for the company in a research report on Friday, June 14th. Barclays decreased their target price on shares of Five9 from $95.00 to $75.00 and set an overweight rating for the company in a research report on Thursday, July 25th. Finally, Needham & Company LLC restated a buy rating and issued a $90.00 target price on shares of Five9 in a research report on Thursday, June 6th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $65.82.

Five9 Price Performance

Shares of NASDAQ:FIVN opened at $32.36 on Friday. The company has a quick ratio of 7.02, a current ratio of 7.02 and a debt-to-equity ratio of 2.41. Five9 has a fifty-two week low of $28.75 and a fifty-two week high of $92.40. The firm has a 50-day simple moving average of $42.66 and a 200 day simple moving average of $54.95. The company has a market cap of $2.39 billion, a PE ratio of -38.07 and a beta of 0.82.

Insider Activity at Five9

In related news, CRO Daniel P. Burkland sold 2,637 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $43.55, for a total transaction of $114,841.35. Following the completion of the sale, the executive now directly owns 130,079 shares of the company’s stock, valued at $5,664,940.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CRO Daniel P. Burkland sold 2,637 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $43.55, for a total transaction of $114,841.35. Following the completion of the sale, the executive now directly owns 130,079 shares of the company’s stock, valued at $5,664,940.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Barry Zwarenstein sold 10,291 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $42.64, for a total transaction of $438,808.24. Following the sale, the chief financial officer now directly owns 107,255 shares of the company’s stock, valued at $4,573,353.20. The disclosure for this sale can be found here. Insiders sold a total of 53,385 shares of company stock valued at $2,418,755 over the last ninety days. Insiders own 1.80% of the company’s stock.

Institutional Trading of Five9

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Five9 in the 4th quarter valued at approximately $79,035,000. Van Berkom & Associates Inc. lifted its position in shares of Five9 by 52.3% in the 2nd quarter. Van Berkom & Associates Inc. now owns 1,299,483 shares of the software maker’s stock valued at $57,307,000 after acquiring an additional 446,151 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Five9 by 38.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,457,086 shares of the software maker’s stock valued at $64,257,000 after acquiring an additional 406,188 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in shares of Five9 by 123.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 648,441 shares of the software maker’s stock valued at $51,026,000 after acquiring an additional 358,887 shares in the last quarter. Finally, UBS Group AG lifted its position in shares of Five9 by 47.7% in the 4th quarter. UBS Group AG now owns 788,381 shares of the software maker’s stock valued at $62,038,000 after acquiring an additional 254,467 shares in the last quarter. 96.64% of the stock is owned by institutional investors and hedge funds.

About Five9

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States 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.