Principal Financial Group Inc. purchased a new stake in Five9, Inc. (NASDAQ:FIVN) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 10,162 shares of the software maker’s stock, valued at approximately $219,000.

Other institutional investors have also added to or reduced their stakes in the company. Aperio Group LLC purchased a new stake in Five9 in the second quarter valued at about $765,000. Bank of New York Mellon Corp raised its stake in Five9 by 81.3% in the first quarter. Bank of New York Mellon Corp now owns 241,072 shares of the software maker’s stock valued at $3,969,000 after buying an additional 108,114 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in Five9 by 15.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 254,284 shares of the software maker’s stock valued at $4,186,000 after buying an additional 33,592 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Five9 by 69.4% in the second quarter. Russell Investments Group Ltd. now owns 1,703,148 shares of the software maker’s stock valued at $36,650,000 after buying an additional 697,949 shares during the last quarter. Finally, Columbus Circle Investors raised its stake in Five9 by 16.7% in the second quarter. Columbus Circle Investors now owns 532,008 shares of the software maker’s stock valued at $11,449,000 after buying an additional 75,951 shares during the last quarter. Institutional investors own 91.24% of the company’s stock.

Five9, Inc. (NASDAQ FIVN) opened at 24.54 on Tuesday. The stock’s market capitalization is $1.35 billion. Five9, Inc. has a 52 week low of $12.58 and a 52 week high of $26.00. The stock has a 50 day moving average price of $22.90 and a 200 day moving average price of $21.32.

In other news, CFO Barry Zwarenstein sold 11,000 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $24.89, for a total value of $273,790.00. Following the completion of the sale, the chief financial officer now directly owns 123,698 shares of the company’s stock, valued at approximately $3,078,843.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Welch sold 3,903 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $20.88, for a total value of $81,494.64. Following the completion of the sale, 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. Insiders sold a total of 101,385 shares of company stock valued at $2,206,272 over the last three months. Company insiders own 9.10% of the company’s stock.

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A number of research firms have commented on FIVN. Northland Securities reiterated a “buy” rating and issued a $25.00 price target on shares of Five9 in a research note on Wednesday, October 4th. Morgan Stanley reiterated an “equal weight” rating and issued a $21.00 price target (up from $18.00) on shares of Five9 in a research note on Thursday, July 20th. Canaccord Genuity increased their price target on Five9 from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, September 27th. KeyCorp reiterated a “buy” rating and issued a $27.00 price target on shares of Five9 in a research note on Friday, September 22nd. Finally, Zacks Investment Research cut Five9 from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. Five9 currently has a consensus rating of “Buy” and a consensus price target of $23.00.

Five9 Company Profile

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).

Institutional Ownership by Quarter for Five9 (NASDAQ:FIVN)

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