Handelsbanken Fonder AB Sells 6,100 Shares of Five9, Inc. $FIVN

Handelsbanken Fonder AB trimmed its stake in shares of Five9, Inc. (NASDAQ:FIVN) by 24.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,795 shares of the software maker’s stock after selling 6,100 shares during the quarter. Handelsbanken Fonder AB’s holdings in Five9 were worth $498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Nisa Investment Advisors LLC acquired a new stake in Five9 during the 2nd quarter valued at approximately $32,000. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Five9 by 419.2% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,243 shares of the software maker’s stock valued at $61,000 after purchasing an additional 1,811 shares during the last quarter. Quarry LP acquired a new stake in shares of Five9 during the first quarter worth $74,000. Northwestern Mutual Wealth Management Co. raised its stake in Five9 by 11,392.9% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,218 shares of the software maker’s stock worth $87,000 after buying an additional 3,190 shares during the last quarter. Finally, Bayforest Capital Ltd bought a new position in Five9 during the first quarter worth $127,000. 96.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on FIVN shares. Barclays cut their price target on shares of Five9 from $33.00 to $29.00 and set an “overweight” rating on the stock in a research report on Friday, November 7th. Morgan Stanley set a $30.00 target price on Five9 in a research report on Tuesday, October 21st. Cantor Fitzgerald decreased their target price on Five9 from $36.00 to $32.00 and set an “overweight” rating for the company in a research note on Friday, November 7th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Five9 in a report on Tuesday. Finally, Wall Street Zen lowered Five9 from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 15th. Thirteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $35.19.

Insider Activity

In other news, President Andy Dignan sold 7,614 shares of the business’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $25.48, for a total transaction of $194,004.72. Following the completion of the sale, the president directly owned 218,125 shares of the company’s stock, valued at $5,557,825. The trade was a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Panos Kozanian sold 10,860 shares of the company’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $25.87, for a total transaction of $280,948.20. Following the completion of the sale, the executive vice president owned 105,315 shares in the company, valued at $2,724,499.05. This represents a 9.35% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 53,738 shares of company stock valued at $1,380,677. 1.60% of the stock is currently owned by insiders.

Five9 Stock Performance

Shares of Five9 stock opened at $19.62 on Friday. The business has a 50-day simple moving average of $22.09 and a 200 day simple moving average of $25.20. Five9, Inc. has a one year low of $17.71 and a one year high of $49.90. The company has a debt-to-equity ratio of 1.04, a current ratio of 4.44 and a quick ratio of 4.44. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 217.97, a PEG ratio of 2.20 and a beta of 1.27.

Five9 (NASDAQ:FIVN) last announced its quarterly earnings data on Friday, August 22nd. The software maker reported $0.76 EPS for the quarter. Five9 had a return on equity of 8.91% and a net margin of 0.80%.The firm had revenue of $283.27 million during the quarter. On average, research analysts anticipate that Five9, Inc. will post 0.28 earnings per share for the current fiscal year.

Five9 announced that its Board of Directors has approved a stock repurchase program on Tuesday, November 11th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the software maker to purchase up to 3.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.