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SAN RAMON, Calif.—Leena Mansharamani, the Senior Vice President and Chief Accounting Officer of Five9, Inc. (NASDAQ:FIVN), recently executed a sale of the company’s common stock. The cloud software company, which has seen its shares decline over 50% in the past year, maintains strong liquidity with current assets exceeding short-term obligations. According to a Form 4 filing with the Securities and Exchange Commission, Mansharamani sold 1,135 shares at a price of $30.20 each, amounting to a total transaction value of $34,277.
Following this transaction, Mansharamani retains ownership of 47,165 shares in the company. This sale was conducted under a pre-established Rule 10b5-1 trading plan, which Mansharamani adopted on December 10, 2024. For deeper insights into insider trading patterns and comprehensive financial analysis, including 13 additional ProTips, check out the detailed Five9 Pro Research Report available on InvestingPro.
In other recent news, Five9, Inc. reported its fourth-quarter 2024 earnings, surpassing expectations with an earnings per share (EPS) of $0.79, beating the forecast of $0.70. The company achieved a revenue of $278.7 million, exceeding the expected $267.67 million, driven by a 17% year-over-year growth. Five9’s emphasis on artificial intelligence (AI) played a significant role, with AI revenue growing by 46% year-over-year and now accounting for 9% of enterprise subscription revenue. In corporate developments, Andy Dignan was appointed as the new President of Five9, reflecting the company’s focus on leadership and growth. On the analyst front, Rosenblatt Securities raised its price target for Five9 to $58, citing strong fourth-quarter results, while Cantor Fitzgerald increased its target to $57, highlighting the company’s AI momentum. Needham maintained a $52 price target, expressing confidence in Five9’s potential in the next-generation contact center market. Additionally, Five9 announced that CFO Barry Zwarenstein will retire, with Bryan Lee stepping in as interim CFO, ensuring a smooth transition during this period of positive momentum.
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