Traders Buy Large Volume of Put Options on Five9 (NASDAQ:FIVN)

by · The Cerbat Gem

Five9, Inc. (NASDAQ:FIVN – Get Free Report) saw some unusual options trading activity on Friday. Investors bought 10,416 put options on the company. This is an increase of approximately 76% compared to the average daily volume of 5,918 put options.

Analyst Upgrades and Downgrades

FIVN has been the topic of a number of recent analyst reports. DA Davidson reissued a “neutral” rating and set a $28.00 price target on shares of Five9 in a research report on Friday, September 12th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Five9 in a report on Monday. Wells Fargo & Company lowered their price objective on Five9 from $28.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Friday, November 7th. Piper Sandler dropped their target price on Five9 from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Friday, November 7th. Finally, Cantor Fitzgerald dropped their price objective on shares of Five9 from $36.00 to $32.00 and set an “overweight” rating for the company in a research note on Friday, November 7th. Thirteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.19.

Check Out Our Latest Research Report on FIVN

Five9 Price Performance

Shares of FIVN traded up $0.08 during midday trading on Friday, hitting $20.82. The company’s stock had a trading volume of 431,406 shares, compared to its average volume of 1,955,965. Five9 has a one year low of $17.71 and a one year high of $49.90. The company has a quick ratio of 4.61, a current ratio of 4.61 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 57.75, a price-to-earnings-growth ratio of 1.27 and a beta of 1.35. The company’s fifty day simple moving average is $21.62 and its two-hundred day simple moving average is $25.00.

Five9 (NASDAQ:FIVN – Get Free Report) last posted its earnings results on Friday, August 22nd. The software maker reported $0.76 EPS for the quarter. The business had revenue of $283.27 million for the quarter. Five9 had a net margin of 2.77% and a return on equity of 10.59%. As a group, equities analysts expect that Five9 will post 0.28 earnings per share for the current fiscal year.

Five9 declared that its Board of Directors has approved a stock buyback program on Tuesday, November 11th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the software maker to repurchase up to 3.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Five9

Hedge funds have recently made changes to their positions in the stock. Herald Investment Management Ltd increased its position in shares of Five9 by 24.4% during the second quarter. Herald Investment Management Ltd now owns 262,000 shares of the software maker’s stock worth $6,927,000 after buying an additional 51,400 shares during the period. Fox Run Management L.L.C. raised its position in shares of Five9 by 68.7% in the 2nd quarter. Fox Run Management L.L.C. now owns 31,508 shares of the software maker’s stock worth $834,000 after acquiring an additional 12,826 shares in the last quarter. Rock Creek Group LP acquired a new position in shares of Five9 in the 2nd quarter valued at about $1,986,000. Gagnon Securities LLC boosted its position in shares of Five9 by 7.5% during the 2nd quarter. Gagnon Securities LLC now owns 407,452 shares of the software maker’s stock valued at $10,789,000 after purchasing an additional 28,393 shares in the last quarter. Finally, Asset Management One Co. Ltd. bought a new stake in shares of Five9 during the 2nd quarter valued at about $297,000. 96.64% of the stock is currently owned by institutional investors.

Five9 Company Profile

(Get Free Report)

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.

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