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SAN RAMON, Calif. — Barry Zwarenstein, the Chief Financial Officer of Five9, Inc. (NASDAQ:FIVN), a cloud software company with over $1 billion in annual revenue and currently trading near $33 per share, recently sold shares of the company’s common stock. The stock has declined about 9% in the past week and 19% year-to-date. According to a filing with the Securities and Exchange Commission, Zwarenstein sold a total of 2,468 shares on March 4, 2025, at an average price of $33.23 per share, amounting to approximately $82,011.
The transaction was part of a mandatory sale to cover tax withholding obligations related to the vesting of restricted stock units. Following this sale, Zwarenstein directly owns 92,583 shares of Five9 common stock. Additionally, he holds 88,466 shares indirectly through a trust.
This sale is not considered a discretionary trade by the CFO but rather a necessary action to meet tax requirements.
In other recent news, Five9, Inc. reported its fourth-quarter 2024 earnings, surpassing analyst expectations with an earnings per share (EPS) of $0.79 compared to the forecast of $0.70. The company’s revenue reached $278.7 million, exceeding the expected $267.67 million, marking a 17% year-over-year increase. Five9’s focus on artificial intelligence (AI) has been a significant growth driver, with AI revenue seeing a 46% year-over-year increase. The company also provided a positive outlook for 2025, projecting revenue of $1.14 billion.
Analysts have responded positively to Five9’s performance, with Rosenblatt Securities raising its price target to $58 from $50, maintaining a Buy rating. The firm attributed this to strong fourth-quarter results and a 16.6% year-over-year revenue growth, particularly in the healthcare and consumer sectors. Cantor Fitzgerald also raised its price target for Five9 to $57 from $46, noting the company’s strong performance and AI-driven growth.
Needham maintained its Buy rating and a $52 price target, highlighting Five9’s robust AI bookings, which accounted for over 20% of new enterprise logo bookings. In corporate developments, Five9 announced the retirement of CFO Barry Zwarenstein, with Bryan Lee stepping in as interim CFO. These recent developments underscore Five9’s strategic focus on AI and its continued growth trajectory.
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