Rebooting will not do those things. Factory Resetting will.
Did you manage to get into Recovery Mode, intentionally or otherwise? That will give you the option to do several things, including those mentioned. A Cache Partition wipe may just help, and since it is harmless - it causes no loss of personal data, photos etc. - you might as well try it. Should you do so, bear in mind that the wipe can take a good few minutes on the Nexus 5....this is normal. It can also take several attempts to get onto Recovery Mode. http://cellphoneforums.net/lg/t3667...e-partition-boot-safe-mode.html#axzz3FPdpU2GJ