Bank of New York Mellon Corp Reduces Position in Five9, Inc. (NASDAQ:FIVN)

Bank of New York Mellon Corp trimmed its holdings in Five9, Inc. (NASDAQ:FIVN) by 7.0% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 402,281 shares of the software maker’s stock after selling 30,274 shares during the quarter. Bank of New York Mellon Corp owned about 0.53% of Five9 worth $10,922,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of FIVN. Banque Transatlantique SA purchased a new position in shares of Five9 during the fourth quarter valued at approximately $36,000. Johnson Financial Group Inc. bought a new stake in Five9 in the 4th quarter worth approximately $47,000. Conquis Financial LLC bought a new stake in Five9 in the 4th quarter worth approximately $122,000. PNC Financial Services Group Inc. raised its stake in Five9 by 10.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,836 shares of the software maker’s stock valued at $156,000 after buying an additional 365 shares during the last quarter. Finally, State of Wyoming lifted its holdings in shares of Five9 by 41.6% during the 4th quarter. State of Wyoming now owns 4,717 shares of the software maker’s stock valued at $192,000 after buying an additional 1,386 shares during the period. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Five9 in a report on Wednesday, April 2nd. KeyCorp began coverage on Five9 in a report on Friday, June 6th. They issued an “overweight” rating and a $35.00 target price on the stock. Wells Fargo & Company lowered their target price on Five9 from $45.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Royal Bank Of Canada raised their price objective on Five9 from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Finally, Morgan Stanley lowered their price objective on Five9 from $48.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.05.

Five9 Trading Up 0.3%

Shares of Five9 stock opened at $26.94 on Monday. Five9, Inc. has a twelve month low of $21.04 and a twelve month high of $49.90. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 1.12. The business has a 50-day moving average price of $27.34 and a 200-day moving average price of $30.72. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of -299.30, a PEG ratio of 2.57 and a beta of 1.19.

Five9 (NASDAQ:FIVN) last announced its quarterly earnings results on Thursday, May 1st. The software maker reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. Five9 had a positive return on equity of 6.06% and a negative net margin of 0.48%. The company had revenue of $279.71 million during the quarter, compared to analyst estimates of $272.26 million. During the same period in the prior year, the company earned $0.48 earnings per share. The firm’s revenue was up 13.2% on a year-over-year basis. Equities research analysts anticipate that Five9, Inc. will post 0.28 EPS for the current fiscal year.

Insider Buying and Selling at Five9

In related news, CEO Michael Burkland sold 5,475 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $28.28, for a total value of $154,833.00. Following the completion of the transaction, the chief executive officer directly owned 385,987 shares of the company’s stock, valued at approximately $10,915,712.36. This represents a 1.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Panos Kozanian sold 3,816 shares of the firm’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $28.28, for a total value of $107,916.48. Following the completion of the transaction, the executive vice president owned 123,218 shares in the company, valued at $3,484,605.04. The trade was a 3.00% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,866 shares of company stock valued at $913,042. Corporate insiders own 1.60% of the company’s stock.

Five9 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.