abrdn plc Cuts Stock Holdings in Five9, Inc. (NASDAQ:FIVN)

abrdn plc decreased its position in Five9, Inc. (NASDAQ:FIVN - Free Report) by 18.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 275,383 shares of the software maker's stock after selling 61,976 shares during the period. abrdn plc owned 0.37% of Five9 worth $11,192,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Gagnon Securities LLC boosted its holdings in Five9 by 10.4% during the fourth quarter. Gagnon Securities LLC now owns 366,096 shares of the software maker's stock worth $14,878,000 after buying an additional 34,597 shares during the last quarter. KBC Group NV boosted its holdings in Five9 by 49.2% during the fourth quarter. KBC Group NV now owns 3,373 shares of the software maker's stock worth $137,000 after buying an additional 1,113 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Five9 by 25.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 35,372 shares of the software maker's stock worth $1,438,000 after buying an additional 7,140 shares during the last quarter. Ameritas Advisory Services LLC lifted its holdings in shares of Five9 by 40.5% during the 4th quarter. Ameritas Advisory Services LLC now owns 11,005 shares of the software maker's stock valued at $447,000 after purchasing an additional 3,173 shares in the last quarter. Finally, Mirador Capital Partners LP lifted its holdings in shares of Five9 by 48.9% during the 4th quarter. Mirador Capital Partners LP now owns 27,707 shares of the software maker's stock valued at $1,126,000 after purchasing an additional 9,095 shares in the last quarter. Institutional investors own 96.64% of the company's stock.

Insider Activity at Five9

In other Five9 news, CEO Michael Burkland sold 12,594 shares of the company's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $41.40, for a total value of $521,391.60. Following the completion of the transaction, the chief executive officer now owns 240,894 shares of the company's stock, valued at $9,973,011.60. This represents a 4.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Panos Kozanian sold 7,619 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $42.09, for a total value of $320,683.71. Following the completion of the sale, the executive vice president now directly owns 69,009 shares of the company's stock, valued at approximately $2,904,588.81. The trade was a 9.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,004 shares of company stock worth $1,209,279 in the last ninety days. 1.80% of the stock is owned by company insiders.

Five9 Stock Performance

Shares of FIVN stock traded down $0.35 during trading on Tuesday, reaching $40.65. 621,982 shares of the company's stock were exchanged, compared to its average volume of 1,135,037. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $3.06 billion, a PE ratio of -81.30, a PEG ratio of 9.48 and a beta of 0.93. Five9, Inc. has a twelve month low of $26.60 and a twelve month high of $79.43. The firm's fifty day moving average price is $40.75 and its 200-day moving average price is $35.95.

Wall Street Analysts Forecast Growth

FIVN has been the topic of several recent analyst reports. Wells Fargo & Company cut Five9 from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $55.00 to $40.00 in a report on Tuesday, November 12th. Truist Financial reiterated a "buy" rating and set a $65.00 price objective on shares of Five9 in a report on Tuesday, December 17th. Morgan Stanley lifted their price objective on Five9 from $40.00 to $46.00 and gave the company an "equal weight" rating in a report on Wednesday, December 18th. Piper Sandler lifted their target price on Five9 from $35.00 to $46.00 and gave the company an "overweight" rating in a research report on Friday, November 8th. Finally, Rosenblatt Securities lifted their target price on Five9 from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $57.50.

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.