Five9, Inc. $FIVN Position Cut by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS trimmed its stake in Five9, Inc. (NASDAQ:FIVN) by 8.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 14,100 shares of the software maker’s stock after selling 1,300 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Five9 were worth $373,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in FIVN. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Five9 by 419.2% during the first 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 in the last quarter. Quarry LP bought a new stake in shares of Five9 during the first quarter valued at about $74,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of 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 valued at $87,000 after purchasing an additional 3,190 shares in the last quarter. Bayforest Capital Ltd bought a new stake in shares of Five9 during the first quarter valued at about $127,000. Finally, State of Wyoming raised its stake in shares of Five9 by 11.5% during the first quarter. State of Wyoming now owns 5,260 shares of the software maker’s stock valued at $143,000 after purchasing an additional 543 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors.

Five9 Price Performance

NASDAQ FIVN opened at $21.56 on Monday. 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 company’s 50 day simple moving average is $25.03 and its 200 day simple moving average is $25.82. Five9, Inc. has a 12 month low of $20.48 and a 12 month high of $49.90. The company has a market capitalization of $1.67 billion, a P/E ratio of 239.58, a PEG ratio of 2.03 and a beta of 1.19.

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

Insider Transactions at Five9

In related news, insider Tiffany N. Meriweather sold 7,861 shares of Five9 stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $25.72, for a total value of $202,184.92. Following the transaction, the insider owned 218,978 shares of the company’s stock, valued at approximately $5,632,114.16. This trade represents a 3.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Leena Mansharamani sold 2,969 shares of Five9 stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $25.85, for a total value of $76,748.65. Following the completion of the transaction, the chief accounting officer directly owned 41,522 shares in the company, valued at $1,073,343.70. This represents a 6.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,781 shares of company stock worth $1,563,724 in the last three months. Insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FIVN. DA Davidson restated a “neutral” rating and set a $28.00 price objective on shares of Five9 in a research note on Friday, September 12th. Canaccord Genuity Group restated a “buy” rating and set a $40.00 price objective on shares of Five9 in a research note on Friday, August 1st. Wall Street Zen upgraded shares of Five9 from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 2nd. Piper Sandler lowered their target price on Five9 from $36.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, July 14th. Finally, Wells Fargo & Company initiated coverage on Five9 in a report on Tuesday, September 30th. They set an “equal weight” rating and a $28.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.88.

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.