Panos Kozanian, the Executive Vice President of Product Engineering at Five9, Inc. (NASDAQ:FIVN), a cloud software provider with a $3.2 billion market cap, recently sold shares of the company's stock worth $320,698. The transactions, which occurred on December 4, were executed under a pre-established Rule 10b5-1 trading plan. The stock has shown strong momentum, posting positive returns over both the last month and quarter.
The sales involved a total of 7,619 shares, with transaction prices ranging from $41.53 to $42.52 per share. Following these sales, Kozanian holds 69,009 shares of Five9 common stock. The sales were also partly intended to cover taxes upon the vesting of restricted stock units. According to InvestingPro analysis, the stock appears undervalued, with 15 analysts recently revising their earnings expectations upward for the upcoming period.
This filing provides insight into the ongoing management of equity holdings by Five9's executive team. For deeper insights into Five9's financial health and growth prospects, including 8 additional exclusive ProTips, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Five9 has demonstrated a robust financial performance, with third-quarter total revenue rising by 15% year-over-year to $264.2 million. The company's subscription revenue, accounting for nearly 80% of total revenue, saw a 20% increase. Five9 raised its Q4 revenue guidance to a midpoint of $267.5 million and expects non-GAAP EPS to be $0.70 per diluted share. Despite a GAAP net loss of $4.5 million due to a one-time charge, the firm remains optimistic about its future market opportunities.
In addition to its financial performance, Five9 recently acquired Acqueon, a move expected to enhance its customer experience platform. The company also opened a new data center in India to cater to local requirements for large customers.
Baird adjusted its outlook on Five9, increasing the stock's price target from $40.00 to $43.00, while maintaining a Neutral rating. This adjustment was made in light of the company's strong Q3 results and raised full-year guidance. However, Baird remains cautious due to the competitive landscape and potential economic challenges that could impact Five9.
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