Zurcher Kantonalbank Zurich Cantonalbank Cuts Stake in Five9, Inc. (NASDAQ:FIVN)

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of Five9, Inc. (NASDAQ:FIVN) by 95.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,182 shares of the software maker’s stock after selling 298,975 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Five9 were worth $1,195,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Assenagon Asset Management S.A. lifted its holdings in shares of Five9 by 84.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 837,856 shares of the software maker’s stock worth $65,931,000 after acquiring an additional 383,002 shares during the period. Vanguard Group Inc. lifted its holdings in shares of 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. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Five9 by 966.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 348,536 shares of the software maker’s stock worth $22,411,000 after acquiring an additional 315,867 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Five9 by 11.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 819,615 shares of the software maker’s stock worth $52,701,000 after acquiring an additional 81,744 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Five9 by 7.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 382,237 shares of the software maker’s stock worth $30,078,000 after acquiring an additional 25,075 shares during the period. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Rosenblatt Securities cut their price objective on shares of Five9 from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Friday. Piper Sandler increased their target price on shares of Five9 from $84.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday, January 12th. Royal Bank of Canada started coverage on shares of Five9 in a research report on Friday, March 15th. They set an “outperform” rating and a $80.00 target price for the company. Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of Five9 in a research report on Thursday, February 22nd. Finally, KeyCorp dropped their target price on shares of Five9 from $93.00 to $86.00 and set an “overweight” rating for the company in a research report on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Five9 has a consensus rating of “Moderate Buy” and a consensus target price of $85.47.

Five9 Stock Down 1.6 %

FIVN stock opened at $58.98 on Friday. Five9, Inc. has a twelve month low of $51.01 and a twelve month high of $92.40. The company has a current ratio of 5.53, a quick ratio of 5.53 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $4.36 billion, a P/E ratio of -52.19 and a beta of 0.83. The firm has a 50 day simple moving average of $61.00 and a 200-day simple moving average of $68.62.

Five9 (NASDAQ:FIVN) last released its quarterly earnings results on Wednesday, February 21st. The software maker reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.14. Five9 had a negative net margin of 8.98% and a negative return on equity of 12.51%. The business had revenue of $239.06 million during the quarter, compared to the consensus estimate of $237.64 million. On average, equities research analysts predict that Five9, Inc. will post -0.42 earnings per share for the current fiscal year.

Insider Transactions at Five9

In other news, COO Andy Dignan sold 7,340 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $57.28, for a total transaction 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.80% of the company’s stock.

Five9 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.