Balter Liquid Alternatives LLC Has $1.06 Million Stake in Five9, Inc. (FIVN)
Balter Liquid Alternatives LLC decreased its position in Five9, Inc. (NASDAQ:FIVN) by 44.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,371 shares of the software maker’s stock after selling 39,222 shares during the period. Five9 makes up approximately 1.2% of Balter Liquid Alternatives LLC’s investment portfolio, making the stock its 23rd largest position. Balter Liquid Alternatives LLC owned approximately 0.09% of Five9 worth $1,062,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of Five9 during the first quarter worth about $788,000. American International Group Inc. increased its stake in shares of Five9 by 7.1% in the first quarter. American International Group Inc. now owns 20,344 shares of the software maker’s stock worth $335,000 after buying an additional 1,349 shares in the last quarter. Oxford Asset Management bought a new stake in shares of Five9 during the first quarter worth about $174,000. Trexquant Investment LP increased its stake in shares of Five9 by 93.0% in the first quarter. Trexquant Investment LP now owns 49,564 shares of the software maker’s stock worth $816,000 after buying an additional 23,877 shares in the last quarter. Finally, Hood River Capital Management LLC increased its stake in shares of Five9 by 39.6% in the first quarter. Hood River Capital Management LLC now owns 1,191,705 shares of the software maker’s stock worth $19,615,000 after buying an additional 338,104 shares in the last quarter. 90.15% of the stock is currently owned by institutional investors and hedge funds.
Shares of Five9, Inc. (FIVN) opened at 20.76 on Friday. Five9, Inc. has a 1-year low of $12.58 and a 1-year high of $24.80. The firm’s 50-day moving average price is $21.55 and its 200 day moving average price is $19.78. The company’s market capitalization is $1.14 billion.
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A number of brokerages recently issued reports on FIVN. Northland Securities set a $25.00 price target on Five9 and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Morgan Stanley reissued an “equal weight” rating and set a $21.00 price target (up previously from $18.00) on shares of Five9 in a research report on Thursday, July 20th. Zacks Investment Research raised Five9 from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Tuesday, July 4th. Canaccord Genuity upped their target price on Five9 from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Finally, BidaskClub cut Five9 from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. Five9 currently has an average rating of “Buy” and an average price target of $22.29.
In related news, CFO Barry Zwarenstein sold 3,020 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $21.01, for a total transaction of $63,450.20. Following the completion of the transaction, the chief financial officer now directly owns 126,722 shares of the company’s stock, valued at $2,662,429.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott Welch sold 3,903 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $20.88, for a total transaction of $81,494.64. Following the transaction, the executive vice president now directly owns 136,799 shares of the company’s stock, valued at $2,856,363.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 97,034 shares of company stock valued at $2,133,490. Corporate insiders own 9.10% of the company’s stock.
Five9 Inc (Five9) is a provider of cloud software for contact centers. The Company’s purpose-built Virtual Contact Center (VCC) cloud platform delivers a suite of applications that enable the breadth of contact center-related customer service, sales and marketing functions. The Company’s solution, which consists of its VCC cloud platform and applications, allows simultaneous management and optimization of customer interactions across voice, chat, e-mail, Web, social media and mobile channels, either directly or through its application programming interfaces (APIs).
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