Five9, Inc. $FIVN Shares Sold by Magnetar Financial LLC

Magnetar Financial LLC trimmed its holdings in shares of Five9, Inc. (NASDAQ:FIVN) by 84.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,774 shares of the software maker’s stock after selling 68,156 shares during the period. Magnetar Financial LLC’s holdings in Five9 were worth $338,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC acquired a new position in shares of Five9 in the 2nd quarter worth $32,000. Kayne Anderson Rudnick Investment Management LLC lifted its position in Five9 by 419.2% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,243 shares of the software maker’s stock worth $61,000 after buying an additional 1,811 shares in the last quarter. Quarry LP purchased a new position in Five9 in the first quarter valued at about $74,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Five9 by 11,392.9% in the 1st 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 position in shares of Five9 during the 1st quarter worth $127,000. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Five9

In other Five9 news, CFO Bryan M. Lee sold 1,889 shares of the company’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $25.72, for a total value of $48,585.08. Following the completion of the transaction, the chief financial officer owned 237,488 shares of the company’s stock, valued at $6,108,191.36. This represents a 0.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Burkland sold 18,425 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $25.72, for a total value of $473,891.00. Following the completion of the sale, the chief executive officer owned 367,562 shares of the company’s stock, valued at $9,453,694.64. The trade was a 4.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 53,738 shares of company stock worth $1,380,677 in the last three months. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of Five9 from $28.00 to $22.00 and set an “equal weight” rating for the company in a report on Friday, November 7th. Morgan Stanley set a $30.00 price objective on Five9 in a research report on Tuesday, October 21st. Zacks Research lowered shares of Five9 from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. Weiss Ratings reissued a “sell (d+)” rating on shares of Five9 in a report on Wednesday, November 19th. Finally, Piper Sandler cut their target price on shares of Five9 from $31.00 to $26.00 and set an “overweight” rating for the company in a research note on Friday, November 7th. Thirteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.19.

Five9 Stock Performance

Shares of FIVN opened at $19.44 on Wednesday. The company has a current ratio of 4.44, a quick ratio of 4.44 and a debt-to-equity ratio of 1.04. The firm has a fifty day simple moving average of $22.50 and a 200 day simple moving average of $25.36. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 216.02, a PEG ratio of 2.20 and a beta of 1.27. Five9, Inc. has a 12 month low of $17.71 and a 12 month high of $49.90.

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

Five9 announced that its board has authorized a stock repurchase plan on Tuesday, November 11th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the software maker to buy up to 3.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Five9 Company 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.