Fmr LLC Sells 2,118,623 Shares of Five9, Inc. (NASDAQ:FIVN)

FMR LLC lessened its holdings in Five9, Inc. (NASDAQ:FIVN - Free Report) by 19.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,041,137 shares of the software maker's stock after selling 2,118,623 shares during the quarter. FMR LLC owned 12.02% of Five9 worth $367,432,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FIVN. Gagnon Securities LLC grew its position in shares of Five9 by 10.4% in the fourth quarter. Gagnon Securities LLC now owns 366,096 shares of the software maker's stock valued at $14,878,000 after purchasing an additional 34,597 shares during the last quarter. Vestcor Inc lifted 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 buying an additional 15,000 shares in the last quarter. Barclays PLC boosted its position in shares of Five9 by 215.8% in the third quarter. Barclays PLC now owns 242,187 shares of the software maker's stock valued at $6,956,000 after acquiring an additional 165,487 shares during the period. Principal Financial Group Inc. acquired a new position in shares of Five9 in the fourth quarter valued at about $268,000. Finally, Janney Montgomery Scott LLC raised its stake in Five9 by 25.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 35,372 shares of the software maker's stock worth $1,438,000 after purchasing an additional 7,140 shares in the last quarter. 96.64% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Leena Mansharamani sold 1,135 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $30.20, for a total transaction of $34,277.00. Following the completion of the transaction, the chief accounting officer now directly owns 47,165 shares in the company, valued at $1,424,383. This trade represents a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Panos Kozanian sold 7,619 shares of Five9 stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $33.40, for a total value of $254,474.60. Following the completion of the transaction, the executive vice president now directly owns 126,359 shares in the company, valued at approximately $4,220,390.60. This represents a 5.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,574 shares of company stock valued at $1,004,346 in the last ninety days. 1.80% of the stock is currently owned by insiders.

Five9 Price Performance

FIVN stock traded down $0.22 during midday trading on Wednesday, reaching $22.90. 195,641 shares of the stock were exchanged, compared to its average volume of 1,694,212. Five9, Inc. has a 52 week low of $21.04 and a 52 week high of $60.81. The company has a fifty day moving average price of $31.94 and a 200 day moving average price of $35.35. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85. The stock has a market capitalization of $1.74 billion, a PE ratio of -114.48, a P/E/G ratio of 9.41 and a beta of 1.29.

Five9 (NASDAQ:FIVN - Get Free Report) last released its quarterly earnings results 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 positive return on equity of 3.62% and a negative net margin of 1.23%. The firm had revenue of $278.66 million for the quarter, compared to the consensus estimate of $267.70 million. As a group, analysts expect that Five9, Inc. will post 0.28 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on FIVN. Barclays raised their target price on shares of Five9 from $55.00 to $60.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Mizuho cut their target price on Five9 from $55.00 to $42.00 and set an "outperform" rating for the company in a research report on Tuesday. Piper Sandler raised their price target on Five9 from $46.00 to $53.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Truist Financial reaffirmed a "buy" rating and issued a $65.00 price target on shares of Five9 in a research note on Tuesday, December 17th. Finally, William Blair reiterated an "outperform" rating on shares of Five9 in a research note on Thursday, March 13th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Five9 has a consensus rating of "Moderate Buy" and a consensus price target of $55.94.

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.