Five9, Inc. (NASDAQ:FIVN) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its position in shares of Five9, Inc. (NASDAQ:FIVN) by 20.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 282,131 shares of the software maker’s stock after selling 70,773 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.39% of Five9 worth $22,201,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Five9 by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,236,249 shares of the software maker’s stock worth $465,291,000 after acquiring an additional 227,183 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Five9 by 22.9% in the 1st quarter. Wellington Management Group LLP now owns 3,775,202 shares of the software maker’s stock valued at $416,783,000 after buying an additional 703,002 shares during the period. Sylebra Capital Ltd lifted its holdings in shares of Five9 by 3.3% in the 1st quarter. Sylebra Capital Ltd now owns 2,576,950 shares of the software maker’s stock valued at $186,288,000 after buying an additional 81,652 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Five9 by 13.9% in the 2nd quarter. Alliancebernstein L.P. now owns 2,501,692 shares of the software maker’s stock valued at $206,265,000 after buying an additional 306,251 shares during the period. Finally, Wasatch Advisors Inc. lifted its holdings in shares of Five9 by 11.3% in the 1st quarter. Wasatch Advisors Inc. now owns 2,190,058 shares of the software maker’s stock valued at $241,782,000 after buying an additional 221,679 shares during the period. Institutional investors and hedge funds own 96.64% of the company’s stock.

Wall Street Analyst Weigh In

FIVN has been the subject of several analyst reports. Barclays decreased their price objective on Five9 from $105.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, February 22nd. Royal Bank of Canada started coverage on Five9 in a research note on Friday, March 15th. They issued an “outperform” rating and a $80.00 price target for the company. Wells Fargo & Company reduced their price target on Five9 from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, February 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of Five9 in a report on Thursday, February 22nd. Finally, Piper Sandler upped their price target on Five9 from $84.00 to $86.00 and gave the stock an “overweight” rating in a report on Friday, January 12th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $87.80.

Insider Activity at Five9

In related news, COO Andy Dignan sold 7,340 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $57.28, for a total value of $420,435.20. Following the completion of the sale, the chief operating officer now owns 129,559 shares of the company’s stock, valued at $7,421,139.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.40% of the company’s stock.

Five9 Price Performance

Shares of Five9 stock opened at $59.54 on Friday. Five9, Inc. has a 12 month low of $51.01 and a 12 month high of $92.40. The company has a debt-to-equity ratio of 1.38, a current ratio of 5.53 and a quick ratio of 5.53. The stock has a market capitalization of $4.40 billion, a P/E ratio of -52.69 and a beta of 0.83. The business has a 50 day simple moving average of $64.40 and a two-hundred day simple moving average of $68.98.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings results on Wednesday, February 21st. The software maker reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.14. Five9 had a negative return on equity of 12.51% and a negative net margin of 8.98%. The firm had revenue of $239.06 million during the quarter, compared to analysts’ expectations of $237.64 million. As a group, analysts predict that Five9, Inc. will post -0.42 EPS for the current fiscal year.

Five9 Company Profile

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States and internationally. It offers a 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.