Brown Capital Management LLC Sells 27,926 Shares of Five9, Inc. (NASDAQ:FIVN)

Brown Capital Management LLC reduced its stake in Five9, Inc. (NASDAQ:FIVN - Free Report) by 75.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,278 shares of the software maker's stock after selling 27,926 shares during the period. Brown Capital Management LLC's holdings in Five9 were worth $267,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FIVN. Signaturefd LLC lifted its position in Five9 by 1,892.3% in the third quarter. Signaturefd LLC now owns 1,036 shares of the software maker's stock valued at $30,000 after purchasing an additional 984 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Five9 during the 2nd quarter valued at $57,000. Quest Partners LLC acquired a new stake in Five9 during the 3rd quarter worth approximately $95,000. nVerses Capital LLC acquired a new position in shares of Five9 during the third quarter worth about $141,000. Finally, Quent Capital LLC lifted its position in shares of Five9 by 8.7% during the second quarter. Quent Capital LLC now owns 4,379 shares of the software maker's stock worth $193,000 after purchasing an additional 352 shares in the last quarter. 96.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Panos Kozanian sold 7,617 shares of the business's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $30.02, for a total value of $228,662.34. Following the completion of the transaction, the executive vice president now owns 76,628 shares in the company, valued at $2,300,372.56. The trade was a 9.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Burkland sold 12,595 shares of the business's stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $30.27, for a total value of $381,250.65. Following the sale, the chief executive officer now owns 253,488 shares of the company's stock, valued at approximately $7,673,081.76. This represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,493 shares of company stock valued at $1,097,753. 1.80% of the stock is currently owned by company insiders.

Five9 Price Performance

Shares of Five9 stock traded up $0.69 during trading on Thursday, hitting $38.69. The stock had a trading volume of 1,039,060 shares, compared to its average volume of 1,530,085. The business's 50-day moving average is $30.98 and its 200 day moving average is $38.12. Five9, Inc. has a 12 month low of $26.60 and a 12 month high of $92.40. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.32. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of -76.00, a P/E/G ratio of 22.74 and a beta of 0.85.

Analysts Set New Price Targets

A number of analysts have weighed in on FIVN shares. Roth Mkm dropped their target price on shares of Five9 from $90.00 to $67.00 and set a "buy" rating on the stock in a report on Friday, August 9th. Morgan Stanley lowered their price target on Five9 from $45.00 to $37.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 15th. BTIG Research decreased their price target on shares of Five9 from $100.00 to $45.00 and set a "buy" rating on the stock in a research report on Friday, August 9th. Robert W. Baird lifted their target price on shares of Five9 from $40.00 to $43.00 and gave the stock a "neutral" rating in a research report on Monday, November 11th. Finally, Piper Sandler lifted their target price on Five9 from $35.00 to $46.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $59.22.

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.