Principal Financial Group Inc. Takes Position in Five9, Inc. $FIVN

Principal Financial Group Inc. acquired a new position in shares of Five9, Inc. (NASDAQ:FIVN) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 165,482 shares of the software maker’s stock, valued at approximately $4,005,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FIVN. Voss Capital LP boosted its position in shares of Five9 by 211.4% during the 2nd quarter. Voss Capital LP now owns 3,250,000 shares of the software maker’s stock worth $86,060,000 after purchasing an additional 2,206,173 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Five9 by 36.4% during the second quarter. Geode Capital Management LLC now owns 1,863,081 shares of the software maker’s stock worth $49,341,000 after buying an additional 497,344 shares in the last quarter. Norges Bank acquired a new position in Five9 during the second quarter worth about $39,056,000. Atreides Management LP increased its holdings in Five9 by 54.9% in the second quarter. Atreides Management LP now owns 955,613 shares of the software maker’s stock valued at $25,305,000 after buying an additional 338,817 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its holdings in Five9 by 74.0% in the second quarter. Loomis Sayles & Co. L P now owns 929,899 shares of the software maker’s stock valued at $24,624,000 after buying an additional 395,581 shares in the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

Wall Street Analyst Weigh In

FIVN has been the topic of a number of research reports. Wall Street Zen cut Five9 from a “strong-buy” rating to a “buy” rating in a report on Sunday. DA Davidson set a $24.00 target price on Five9 in a research report on Thursday, December 18th. Needham & Company LLC reissued a “buy” rating and issued a $40.00 target price on shares of Five9 in a report on Thursday, December 18th. Zacks Research downgraded Five9 from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Finally, Cantor Fitzgerald decreased their price objective on shares of Five9 from $36.00 to $32.00 and set an “overweight” rating on the stock in a research report on Friday, November 7th. Twelve analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.07.

Insider Activity

In other news, insider Tiffany N. Meriweather sold 6,852 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $20.35, for a total value of $139,438.20. Following the completion of the transaction, the insider owned 212,126 shares of the company’s stock, valued at $4,316,764.10. The trade was a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Leena Mansharamani sold 2,951 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $20.41, for a total transaction of $60,229.91. Following the transaction, the chief accounting officer directly owned 38,571 shares in the company, valued at $787,234.11. The trade was a 7.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 65,339 shares of company stock worth $1,330,186 in the last quarter. Corporate insiders own 1.60% of the company’s stock.

Five9 Stock Performance

Five9 stock opened at $16.75 on Monday. Five9, Inc. has a fifty-two week low of $15.70 and a fifty-two week high of $49.90. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 46.53, a PEG ratio of 0.85 and a beta of 1.32. The stock has a fifty day moving average of $19.06 and a two-hundred day moving average of $21.97. The company has a debt-to-equity ratio of 0.96, a quick ratio of 4.61 and a current ratio of 4.61.

Five9 announced that its Board of Directors has approved a share buyback plan on Tuesday, November 11th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the software maker to buy up to 3.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

About Five9

Five9, Inc (NASDAQ: FIVN) is a leading provider of cloud-based contact center software designed to help organizations manage customer interactions across voice, email, chat, social media and other digital channels. Its platform offers features such as intelligent routing, analytics, workforce optimization and integrated customer relationship management (CRM) connectors. The company emphasizes AI-driven capabilities, including virtual agents and predictive dialing, to enhance both agent productivity and customer experience.

Founded in 2001 and headquartered in San Ramon, California, Five9 completed its initial public offering in February 2014.