Engineers Gate Manager LP Invests $1.75 Million in Five9, Inc. (FIVN)
Engineers Gate Manager LP purchased a new stake in shares of Five9, Inc. (NASDAQ:FIVN) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 81,418 shares of the software maker’s stock, valued at approximately $1,752,000. Engineers Gate Manager LP owned approximately 0.15% of Five9 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FIVN. BNP Paribas Arbitrage SA raised its stake in Five9 by 4,389.5% during the second quarter. BNP Paribas Arbitrage SA now owns 5,567 shares of the software maker’s stock valued at $120,000 after buying an additional 5,443 shares during the last quarter. Principal Financial Group Inc. purchased a new position in Five9 during the second quarter valued at $219,000. Oxford Asset Management purchased a new position in Five9 during the first quarter valued at $174,000. Legal & General Group Plc raised its stake in Five9 by 67.3% during the second quarter. Legal & General Group Plc now owns 13,272 shares of the software maker’s stock valued at $285,000 after buying an additional 5,339 shares during the last quarter. Finally, Sei Investments Co. raised its stake in Five9 by 41.0% during the second quarter. Sei Investments Co. now owns 13,322 shares of the software maker’s stock valued at $287,000 after buying an additional 3,871 shares during the last quarter. Institutional investors own 91.88% of the company’s stock.
A number of research analysts have issued reports on the company. Northland Securities set a $25.00 price objective on Five9 and gave the company a “buy” rating in a research note on Wednesday, July 19th. Morgan Stanley reiterated an “equal weight” rating and set a $21.00 price objective (up previously from $18.00) on shares of Five9 in a research note on Thursday, July 20th. Zacks Investment Research cut Five9 from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. Canaccord Genuity lifted their price objective on Five9 from $23.00 to $25.00 and gave the company 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 research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Five9 currently has an average rating of “Buy” and an average price target of $22.29.
Five9, Inc. (FIVN) opened at 21.91 on Tuesday. The stock’s market cap is $1.21 billion. Five9, Inc. has a 1-year low of $12.58 and a 1-year high of $24.80. The stock has a 50 day moving average price of $21.33 and a 200 day moving average price of $20.18.
In other news, CFO Barry Zwarenstein sold 3,020 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $21.01, for a total transaction of $63,450.20. Following the completion of the sale, the chief financial officer now owns 126,722 shares in the company, valued at approximately $2,662,429.22. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Daniel P. Burkland sold 10,000 shares of the stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $22.60, for a total value of $226,000.00. Following the sale, the executive vice president now owns 173,498 shares of the company’s stock, valued at approximately $3,921,054.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 114,007 shares of company stock valued at $2,462,190. Company insiders own 9.10% of the company’s stock.
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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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