Fulcrum Asset Management LLP grew its position in shares of Five9, Inc. (NASDAQ:FIVN – Free Report) by 415.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 49,944 shares of the software maker’s stock after buying an additional 40,250 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Five9 were worth $1,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Anson Funds Management LP lifted its position in shares of Five9 by 35.6% during the 1st quarter. Anson Funds Management LP now owns 2,086,675 shares of the software maker’s stock valued at $31,655,000 after acquiring an additional 547,304 shares during the period. S Squared Technology LLC acquired a new stake in shares of Five9 during the 2nd quarter worth $10,983,957. Deutsche Bank AG acquired a new stake in shares of Five9 during the 2nd quarter worth $10,432,000. Bank of New York Mellon Corp bought a new position in shares of Five9 in the second quarter worth $10,429,000. Finally, Allianz Asset Management GmbH bought a new position in shares of Five9 in the second quarter worth $6,690,000. Institutional investors and hedge funds own 96.64% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the company. Truist Financial dropped their price target on Five9 from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, November 6th. Royal Bank Of Canada increased their price objective on shares of Five9 from $25.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Evercore lowered shares of Five9 from an “outperform” rating to an “in-line” rating and set a $24.00 target price on the stock. in a report on Friday, November 6th. Needham & Company LLC reissued a “buy” rating on shares of Five9 in a report on Friday. Finally, Weiss Ratings upgraded shares of Five9 from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Twelve investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, Five9 currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.94.
Check Out Our Latest Report on Five9
Five9 Price Performance
Shares of NASDAQ:FIVN opened at $27.75 on Wednesday. Five9, Inc. has a one year low of $13.29 and a one year high of $40.00. The firm has a 50 day simple moving average of $34.30 and a 200 day simple moving average of $24.59. The company has a debt-to-equity ratio of 0.88, a current ratio of 4.00 and a quick ratio of 4.00. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 20.92 and a beta of 1.56.
Five9 (NASDAQ:FIVN – Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.02. The firm had revenue of $323.30 million during the quarter, compared to the consensus estimate of $319.04 million. Five9 had a net margin of 4.51% and a return on equity of 12.85%. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 earnings per share. Research analysts predict that Five9, Inc. will post 1.54 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, insider Tiffany Meriweather sold 13,409 shares of Five9 stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $33.31, for a total value of $446,653.79. Following the transaction, the insider directly owned 258,363 shares of the company’s stock, valued at $8,606,071.53. The trade was a 4.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Andy Dignan sold 17,767 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $35.03, for a total transaction of $622,378.01. Following the sale, the president directly owned 257,920 shares of the company’s stock, valued at $9,034,937.60. This represents a 6.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 83,831 shares of company stock valued at $2,821,366 in the last ninety days. Insiders own 1.20% of the company’s stock.
Five9 Company Profile
Five9 provides cloud-based contact center software that helps businesses manage customer service and sales interactions. Its platform supports communications across channels such as phone, email, chat and messaging, and includes tools for routing, reporting and managing customer interactions. The company also offers artificial intelligence capabilities, including virtual agents and agent-assistance tools, along with workforce engagement and analytics products. These services are designed to help organizations automate routine interactions and support human agents.
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