Mirae Asset Global Investments Co. Ltd. Decreases Stake in Five9, Inc. (NASDAQ:FIVN)

Mirae Asset Global Investments Co. Ltd. reduced its holdings in Five9, Inc. (NASDAQ:FIVN) by 5.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,287 shares of the software maker’s stock after selling 507 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Five9 were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of FIVN. Norges Bank purchased a new position in shares of Five9 in the fourth quarter worth about $81,280,000. Ameriprise Financial Inc. lifted its stake in shares of Five9 by 353.3% in the fourth quarter. Ameriprise Financial Inc. now owns 2,395,566 shares of the software maker’s stock worth $97,356,000 after buying an additional 1,867,137 shares in the last quarter. Sylebra Capital LLC lifted its stake in shares of Five9 by 59.4% in the fourth quarter. Sylebra Capital LLC now owns 3,745,778 shares of the software maker’s stock worth $152,228,000 after buying an additional 1,396,496 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Five9 in the fourth quarter worth about $51,061,000. Finally, Wellington Management Group LLP lifted its stake in shares of Five9 by 50.9% in the fourth quarter. Wellington Management Group LLP now owns 1,783,870 shares of the software maker’s stock worth $72,496,000 after buying an additional 601,348 shares in the last quarter. 96.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Five9

In related news, President Andy Dignan sold 4,845 shares of the business’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $28.18, for a total value of $136,532.10. Following the sale, the president directly owned 227,839 shares in the company, valued at $6,420,503.02. The trade was a 2.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Leena Mansharamani sold 2,938 shares of the business’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $27.83, for a total transaction of $81,764.54. Following the completion of the sale, the chief accounting officer owned 44,901 shares in the company, valued at $1,249,594.83. This represents a 6.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,866 shares of company stock worth $913,042. Company insiders own 1.60% of the company’s stock.

Five9 Stock Performance

Shares of FIVN opened at $27.59 on Monday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 2.02 and a current ratio of 2.02. The stock has a market capitalization of $2.10 billion, a P/E ratio of -306.52, a P/E/G ratio of 2.64 and a beta of 1.19. The company’s fifty day moving average is $26.99 and its two-hundred day moving average is $31.80. Five9, Inc. has a 1 year low of $21.04 and a 1 year high of $49.90.

Five9 (NASDAQ:FIVN) last announced its quarterly earnings data on Thursday, May 1st. The software maker reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.14. Five9 had a negative net margin of 0.48% and a positive return on equity of 6.06%. The company had revenue of $279.71 million for the quarter, compared to analysts’ expectations of $272.26 million. During the same period in the previous year, the company posted $0.48 EPS. Five9’s revenue was up 13.2% compared to the same quarter last year. On average, sell-side analysts predict that Five9, Inc. will post 0.28 earnings per share for the current year.

Analysts Set New Price Targets

FIVN has been the subject of several recent analyst reports. Rosenblatt Securities restated a “buy” rating and set a $36.00 price objective on shares of Five9 in a research report on Tuesday, May 13th. KeyCorp initiated coverage on shares of Five9 in a research report on Friday, June 6th. They set an “overweight” rating and a $35.00 price objective for the company. Evercore ISI cut their price objective on shares of Five9 from $55.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Needham & Company LLC cut their price objective on shares of Five9 from $52.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Five9 in a research report on Wednesday, April 2nd. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Five9 presently has an average rating of “Moderate Buy” and a consensus target price of $43.15.

Five9 Company Profile

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States, India, 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.