Five9 (NASDAQ:FIVN) Cut to “Hold” at Baird R W

Baird R W downgraded shares of Five9 (NASDAQ:FIVN) from a strong-buy rating to a hold rating in a report released on Friday morning, Zacks.com reports.

Several other brokerages also recently weighed in on FIVN. UBS Group decreased their target price on shares of Five9 from $90.00 to $81.00 and set a buy rating for the company in a research note on Friday, May 3rd. Needham & Company LLC reaffirmed a buy rating and set a $90.00 price objective on shares of Five9 in a research report on Thursday, June 6th. Rosenblatt Securities lowered their target price on Five9 from $80.00 to $70.00 and set a buy rating on the stock in a research note on Friday. StockNews.com upgraded Five9 from a sell rating to a hold rating in a research note on Thursday, August 8th. Finally, Bank of America upgraded shares of Five9 from an underperform rating to a buy rating and set a $63.00 price objective on the stock in a research report on Monday, August 5th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Five9 presently has an average rating of Moderate Buy and a consensus price target of $65.82.

Five9 Stock Up 3.7 %

FIVN stock opened at $32.36 on Friday. The company has a market cap of $2.39 billion, a price-to-earnings ratio of -38.07 and a beta of 0.82. The company has a fifty day moving average price of $42.66 and a 200 day moving average price of $54.95. The company has a debt-to-equity ratio of 2.41, a current ratio of 7.02 and a quick ratio of 7.02. Five9 has a 12 month low of $28.75 and a 12 month high of $92.40.

Insiders Place Their Bets

In other news, CRO Daniel P. Burkland sold 2,637 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $43.55, for a total value of $114,841.35. Following the sale, the executive now directly owns 130,079 shares in the company, valued at $5,664,940.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CRO Daniel P. Burkland sold 2,637 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $43.55, for a total value of $114,841.35. Following the completion of the transaction, the executive now 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 is accessible through this link. Also, CAO Leena Mansharamani sold 1,542 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $46.27, for a total transaction of $71,348.34. Following the sale, the chief accounting officer now owns 38,267 shares in the company, valued at approximately $1,770,614.09. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,385 shares of company stock valued at $2,418,755. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Five9

Several institutional investors have recently added to or reduced their stakes in FIVN. Vanguard Group Inc. increased its stake in shares of Five9 by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 7,437,575 shares of the software maker’s stock valued at $461,948,000 after acquiring an additional 150,786 shares during the last quarter. Wasatch Advisors LP grew its holdings in Five9 by 1.9% in the first quarter. Wasatch Advisors LP now owns 3,459,581 shares of the software maker’s stock valued at $214,875,000 after purchasing an additional 63,200 shares during the period. Sylebra Capital LLC increased its position in Five9 by 1.5% during the first quarter. Sylebra Capital LLC now owns 2,347,108 shares of the software maker’s stock worth $145,779,000 after purchasing an additional 34,681 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Five9 by 38.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,457,086 shares of the software maker’s stock worth $64,257,000 after purchasing an additional 406,188 shares during the period. Finally, Van Berkom & Associates Inc. boosted its holdings 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 purchasing an additional 446,151 shares during the last quarter. 96.64% of the stock is currently 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.