The EVP, Product Management of Five9 (NASDAQ: FIVN) is Buying Shares

By Carrie Williams

Yesterday, the EVP, Product Management of Five9 (NASDAQ: FIVN), Gaurav Passi, bought shares of FIVN for $170.9K.

Following this transaction Gaurav Passi’s holding in the company was increased by 20.08% to a total of $3.25 million. This is Passi’s first Buy trade following 11 Sell transactions.

Based on Five9’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $55.4 million and GAAP net loss of $631K. In comparison, last year the company earned revenue of $44.21 million and had a net profit of $409K. The company has a one-year high of $32 and a one-year low of $15.80. The Company has a book value per share of 44.7148.

10 different firms, including Barclays and Merrill Lynch, currently also have a Buy rating on the stock. Based on 5 analyst ratings, the analyst consensus is Strong Buy with an average price target of $29.8, reflecting a 1.9% upside.

In the last 30 days, insiders have sold $4.49M worth of FIVN shares and purchased $1.69M worth of FIVN shares. The insider sentiment on Five9 has been negative according to 86 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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Five9, Inc. provides cloud software for contact centers. It helps businesses take advantage of secure, reliable, scalable cloud contact center software to create exceptional customer experiences, increase agent productivity and deliver tangible business results. Five 9 was founded in December 2001 and is headquartered in San Ramon, CA.