Stephens Investment Management Group LLC increased its stake in Five9 Inc (NASDAQ:FIVN) by 1.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 533,785 shares of the software maker’s stock after purchasing an additional 6,574 shares during the period. Stephens Investment Management Group LLC owned 0.89% of Five9 worth $27,378,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in FIVN. Winslow Evans & Crocker Inc. bought a new stake in Five9 during the 1st quarter valued at $30,000. Pearl River Capital LLC bought a new stake in Five9 during the 1st quarter valued at $32,000. NEXT Financial Group Inc bought a new stake in Five9 during the 2nd quarter valued at $39,000. Dorsey Wright & Associates raised its stake in Five9 by 33.3% during the 2nd quarter. Dorsey Wright & Associates now owns 788 shares of the software maker’s stock valued at $40,000 after acquiring an additional 197 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware raised its stake in Five9 by 27.9% during the 1st quarter. Mckinley Capital Management LLC Delaware now owns 989 shares of the software maker’s stock valued at $52,000 after acquiring an additional 216 shares in the last quarter. 99.90% of the stock is currently owned by institutional investors and hedge funds.
Shares of FIVN traded up $1.19 during midday trading on Friday, reaching $63.24. The stock had a trading volume of 5,147 shares, compared to its average volume of 1,093,282. Five9 Inc has a 52 week low of $34.66 and a 52 week high of $64.14. The company has a debt-to-equity ratio of 1.27, a current ratio of 6.41 and a quick ratio of 6.41. The firm’s 50 day moving average price is $53.28 and its 200-day moving average price is $52.12. The company has a market capitalization of $3.76 billion, a P/E ratio of 420.93, a P/E/G ratio of 149.33 and a beta of 0.56.
FIVN has been the topic of a number of research reports. Summit Insights raised Five9 from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. JPMorgan Chase & Co. raised Five9 from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $59.00 to $70.00 in a research note on Thursday, August 1st. BidaskClub raised Five9 from a “hold” rating to a “buy” rating in a research note on Saturday, August 10th. Bank of America reissued an “underperform” rating and issued a $39.00 price objective (up previously from $33.00) on shares of Five9 in a research note on Thursday, May 2nd. Finally, Zacks Investment Research downgraded Five9 from a “buy” rating to a “hold” rating in a research note on Monday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $57.55.
In related news, EVP Scott Welch sold 1,411 shares of Five9 stock in a transaction on Monday, May 20th. The stock was sold at an average price of $49.42, for a total value of $69,731.62. Following the transaction, the executive vice president now directly owns 76,328 shares in the company, valued at approximately $3,772,129.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Barry Zwarenstein sold 3,118 shares of Five9 stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $46.41, for a total value of $144,706.38. The disclosure for this sale can be found here. Insiders sold a total of 347,889 shares of company stock worth $18,157,102 over the last 90 days. Insiders own 4.90% of the company’s stock.
Five9, Inc, together with its subsidiaries, provides cloud software for contact centers in the United States and internationally. The company offers virtual contact center cloud platform that delivers a suite of applications, which enables the breadth of contact center-related customer service, sales, and marketing functions; and acts as a hub for omnichannel engagement between the clients and their customers, which enables them to manage the end-to-end customer experience in a single unified architecture.
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