Acadian Asset Management LLC purchased a new position in Five9, Inc. (NASDAQ:FIVN – Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 38,005 shares of the software maker’s stock, valued at approximately $1,029,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quantinno Capital Management LP purchased a new position in Five9 during the fourth quarter valued at $287,000. Royal Bank of Canada lifted its position in Five9 by 6.0% during the fourth quarter. Royal Bank of Canada now owns 369,001 shares of the software maker’s stock valued at $14,997,000 after buying an additional 20,775 shares during the period. Man Group plc purchased a new position in shares of Five9 in the 4th quarter worth about $354,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Five9 by 292.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,679,356 shares of the software maker’s stock worth $72,745,000 after purchasing an additional 1,996,628 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in shares of Five9 by 60.1% in the 4th quarter. Cetera Investment Advisers now owns 13,407 shares of the software maker’s stock worth $545,000 after purchasing an additional 5,032 shares during the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.
Five9 Price Performance
FIVN opened at $25.94 on Thursday. Five9, Inc. has a 12-month low of $21.04 and a 12-month high of $49.90. The company has a current ratio of 4.44, a quick ratio of 4.44 and a debt-to-equity ratio of 1.04. The business’s fifty day simple moving average is $26.41 and its 200-day simple moving average is $26.84. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 288.25, a PEG ratio of 2.40 and a beta of 1.17.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the company. Wall Street Zen raised Five9 from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 2nd. Rosenblatt Securities restated a “buy” rating and set a $36.00 price target on shares of Five9 in a research note on Friday, August 1st. Piper Sandler cut their price target on Five9 from $36.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, July 14th. DA Davidson restated a “neutral” rating and set a $28.00 price target on shares of Five9 in a research note on Friday, September 12th. Finally, KeyCorp initiated coverage on Five9 in a research note on Friday, June 6th. They set an “overweight” rating and a $35.00 price target for the company. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.59.
Check Out Our Latest Research Report on FIVN
Insiders Place Their Bets
In related news, CFO Bryan M. Lee sold 1,889 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $25.72, for a total transaction of $48,585.08. Following the completion of the sale, the chief financial officer directly owned 237,488 shares in the company, valued at approximately $6,108,191.36. The trade was a 0.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Andy Dignan sold 7,614 shares of the company’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $25.48, for a total value of $194,004.72. Following the completion of the transaction, the president directly owned 218,125 shares in the company, valued at approximately $5,557,825. This trade represents a 3.37% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,781 shares of company stock valued at $1,565,453. 1.60% of the stock is owned by insiders.
About Five9
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.
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