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Harvey Capital Management Inc. Lowers Stock Holdings in Five9, Inc. (NASDAQ:FIVN)

Five9 logo with Computer and Technology background

Harvey Capital Management Inc. decreased its holdings in Five9, Inc. (NASDAQ:FIVN - Free Report) by 19.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 48,410 shares of the software maker's stock after selling 11,366 shares during the period. Harvey Capital Management Inc. owned approximately 0.06% of Five9 worth $1,967,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. WCM Investment Management LLC grew its position in Five9 by 35.9% during the 4th quarter. WCM Investment Management LLC now owns 522,611 shares of the software maker's stock worth $21,281,000 after acquiring an additional 138,019 shares during the last quarter. Choreo LLC acquired a new position in shares of Five9 in the 4th quarter valued at about $408,000. Gagnon Securities LLC lifted its stake in shares of Five9 by 10.4% in the 4th 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 period. KBC Group NV raised its stake in Five9 by 49.2% during the 4th 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 period. Finally, Janney Montgomery Scott LLC raised its stake in Five9 by 25.3% during the 4th 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 period. Institutional investors own 96.64% of the company's stock.

Five9 Price Performance

NASDAQ FIVN traded down $1.39 during trading hours on Friday, reaching $40.12. 866,980 shares of the stock traded hands, compared to its average volume of 1,154,628. The stock has a 50 day simple moving average of $40.70 and a two-hundred day simple moving average of $35.98. Five9, Inc. has a 1 year low of $26.60 and a 1 year high of $77.21. The company has a market cap of $3.02 billion, a price-to-earnings ratio of -80.24, a price-to-earnings-growth ratio of 9.48 and a beta of 0.93. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85.

Insider Activity

In other Five9 news, EVP Panos Kozanian sold 7,619 shares of the firm's 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 in the company, valued at $2,904,588.81. This trade represents a 9.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Leena Mansharamani sold 1,346 shares of the firm's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $41.33, for a total transaction of $55,630.18. Following the completion of the sale, the chief accounting officer now owns 35,526 shares of the company's stock, valued at $1,468,289.58. This trade represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,004 shares of company stock valued at $1,209,279. 1.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on FIVN shares. Wells Fargo & Company lowered Five9 from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $55.00 to $40.00 in a report on Tuesday, November 12th. DA Davidson upped their target price on Five9 from $40.00 to $45.00 and gave the company a "neutral" rating in a report on Friday, November 8th. Piper Sandler increased their price objective on Five9 from $35.00 to $46.00 and gave the company an "overweight" rating in a report on Friday, November 8th. Cantor Fitzgerald initiated coverage on Five9 in a report on Friday, January 17th. They set an "overweight" rating and a $46.00 price objective for the company. Finally, Rosenblatt Securities increased their target price on Five9 from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $57.50.

View Our Latest Analysis on Five9

Five9 Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Five9 (NASDAQ:FIVN)

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