Alberta Investment Management Corp Makes New Investment in Five9, Inc. (NASDAQ:FIVN)

Alberta Investment Management Corp acquired a new position in shares of Five9, Inc. (NASDAQ:FIVN - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 214,240 shares of the software maker's stock, valued at approximately $8,707,000. Alberta Investment Management Corp owned approximately 0.28% of Five9 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA raised its holdings in shares of Five9 by 14.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,667,922 shares of the software maker's stock worth $47,919,000 after acquiring an additional 210,836 shares in the last quarter. Gagnon Securities LLC raised its holdings in shares of 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 acquiring an additional 34,597 shares in the last quarter. Vestcor Inc raised its holdings in shares of Five9 by 42.9% during the third quarter. Vestcor Inc now owns 50,000 shares of the software maker's stock worth $1,437,000 after acquiring an additional 15,000 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Five9 by 14.9% during the third quarter. Fisher Asset Management LLC now owns 761,966 shares of the software maker's stock worth $21,891,000 after acquiring an additional 98,543 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Five9 by 215.8% during the third quarter. Barclays PLC now owns 242,187 shares of the software maker's stock worth $6,956,000 after acquiring an additional 165,487 shares in the last quarter. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FIVN has been the subject of several recent research reports. Needham & Company LLC reiterated a "buy" rating and set a $52.00 price objective on shares of Five9 in a report on Friday. Wells Fargo & Company lowered Five9 from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $55.00 to $40.00 in a report on Tuesday, November 12th. Piper Sandler raised their price target on Five9 from $46.00 to $53.00 and gave the company an "overweight" rating in a research report on Friday. Rosenblatt Securities lifted their price objective on Five9 from $50.00 to $58.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Morgan Stanley lifted their price objective on Five9 from $40.00 to $46.00 and gave the stock an "equal weight" rating in a research note on Wednesday, December 18th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Five9 currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.22.

Five9 Price Performance

Shares of FIVN stock traded up $0.40 during trading hours on Friday, hitting $42.09. The company had a trading volume of 7,962,508 shares, compared to its average volume of 1,288,138. Five9, Inc. has a 12 month low of $26.60 and a 12 month high of $65.71. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of -210.44, a PEG ratio of 9.41 and a beta of 0.93. The firm's fifty day moving average is $40.57 and its 200 day moving average is $35.89. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.85 and a current ratio of 1.85.

Five9 (NASDAQ:FIVN - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The software maker reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.44). Five9 had a negative net margin of 1.23% and a positive return on equity of 3.62%. The company had revenue of $278.66 million during the quarter, compared to the consensus estimate of $267.70 million. On average, sell-side analysts predict that Five9, Inc. will post 0.28 EPS for the current fiscal year.

Insider Activity

In other news, CEO Michael Burkland sold 12,594 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $41.40, for a total value of $521,391.60. Following the transaction, the chief executive officer now directly owns 240,894 shares of the company's stock, valued at $9,973,011.60. The trade was a 4.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Leena Mansharamani sold 1,346 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $41.33, for a total value of $55,630.18. Following the completion of the transaction, the chief accounting officer now directly owns 35,526 shares in the company, valued at $1,468,289.58. The trade was a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,004 shares of company stock worth $1,209,279. Company insiders own 1.80% of the company's stock.

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.