Gagnon Securities LLC reduced its stake in Five9, Inc. (NASDAQ:FIVN – Free Report) by 21.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 566,846 shares of the software maker’s stock after selling 155,852 shares during the period. Five9 comprises approximately 3.3% of Gagnon Securities LLC’s investment portfolio, making the stock its 7th largest position. Gagnon Securities LLC owned 0.74% of Five9 worth $19,278,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in FIVN. Glenmede Trust Co. NA grew its stake in shares of Five9 by 35.7% during the first quarter. Glenmede Trust Co. NA now owns 577,672 shares of the software maker’s stock worth $8,763,000 after buying an additional 151,974 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of Five9 by 12.1% during the second quarter. Squarepoint Ops LLC now owns 374,506 shares of the software maker’s stock worth $7,984,000 after buying an additional 40,519 shares in the last quarter. Legal & General Group Plc acquired a new position in shares of Five9 during the second quarter worth $1,263,000. Toth Financial Advisory Corp bought a new position in shares of Five9 in the 3rd quarter valued at $988,000. Finally, OneDigital Investment Advisors LLC bought a new position in shares of Five9 in the 2nd quarter valued at $1,034,000. 96.64% of the stock is owned by institutional investors.
Insider Buying and Selling
In other Five9 news, CFO Bryan Lee sold 19,308 shares of Five9 stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $33.34, for a total transaction of $643,728.72. Following the transaction, the chief financial officer directly owned 290,643 shares of the company’s stock, valued at approximately $9,690,037.62. The trade was a 6.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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, insider Tiffany Meriweather sold 13,409 shares of the company’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $33.31, for a total value of $446,653.79. Following the completion of the sale, the insider owned 258,363 shares in the company, valued at $8,606,071.53. This trade represents a 4.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold a total of 83,831 shares of company stock valued at $2,821,366 over the last 90 days. 1.20% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on FIVN shares. Evercore lowered Five9 from an “outperform” rating to an “in-line” rating and set a $24.00 price objective on the stock. in a research report on Friday, November 6th. Wells Fargo & Company dropped their target price on Five9 from $36.00 to $28.00 and set an “equal weight” rating for the company in a research report on Friday, November 6th. Zacks Research lowered Five9 from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 9th. UBS Group boosted their price target on Five9 from $36.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, October 16th. Finally, KeyCorp boosted their price target on Five9 from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, November 6th. Twelve investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.94.
Check Out Our Latest Analysis on FIVN
Five9 Price Performance
FIVN stock opened at $28.07 on Thursday. The company has a fifty day moving average price of $34.18 and a 200-day moving average price of $24.64. The company has a market capitalization of $2.11 billion, a P/E ratio of 20.11 and a beta of 1.56. Five9, Inc. has a 52-week low of $13.29 and a 52-week high of $40.00. The company has a debt-to-equity ratio of 0.88, a quick ratio of 4.00 and a current ratio of 4.00.
Five9 (NASDAQ:FIVN – Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The software maker reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.02. Five9 had a net margin of 4.51% and a return on equity of 12.85%. The company had revenue of $323.30 million for the quarter, compared to analyst estimates of $319.04 million. During the same quarter in the previous year, the business earned $0.78 earnings per share. Five9’s revenue was up 13.1% compared to the same quarter last year. As a group, equities analysts expect that Five9, Inc. will post 1.52 EPS for the current year.
Five9 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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