Summit Creek Advisors LLC Sells 9,246 Shares of Five9, Inc. $FIVN

Summit Creek Advisors LLC decreased its holdings in Five9, Inc. (NASDAQ:FIVN) by 4.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 207,368 shares of the software maker’s stock after selling 9,246 shares during the period. Summit Creek Advisors LLC’s holdings in Five9 were worth $5,491,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several brokerages recently issued reports on FIVN. Wall Street Zen upgraded shares of Five9 from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 2nd. Rosenblatt Securities reissued a “buy” rating and set a $36.00 price target on shares of Five9 in a research note on Friday, August 1st. Zacks Research raised shares of Five9 from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Piper Sandler reduced their price objective 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 began coverage on Five9 in a research report on Tuesday, September 30th. They set an “equal weight” rating and a $28.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

Five9 Price Performance

FIVN opened at $22.76 on Thursday. The stock has a market cap of $1.76 billion, a P/E ratio of 252.92, a P/E/G ratio of 2.20 and a beta of 1.27. Five9, Inc. has a 12 month low of $20.48 and a 12 month high of $49.90. The company has a quick ratio of 4.44, a current ratio of 4.44 and a debt-to-equity ratio of 1.04. The company has a fifty day simple moving average of $24.35 and a 200 day simple moving average of $25.85.

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

Insider Buying and Selling at Five9

In related news, CFO Bryan M. Lee sold 1,889 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $25.72, for a total value of $48,585.08. Following the sale, the chief financial officer directly owned 237,488 shares of the company’s stock, valued at approximately $6,108,191.36. The trade was a 0.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Tiffany N. Meriweather sold 7,861 shares of the 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 60,781 shares of company stock valued at $1,562,457 over the last quarter. 1.60% of the stock is currently owned by corporate insiders.

Five9 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.