KLP Kapitalforvaltning AS Makes New $626,000 Investment in Five9, Inc. (NASDAQ:FIVN)

KLP Kapitalforvaltning AS acquired a new stake in Five9, Inc. (NASDAQ:FIVN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 15,400 shares of the software maker's stock, valued at approximately $626,000.

Other hedge funds also recently made changes to their positions in the company. Gagnon Securities LLC boosted its holdings in shares of Five9 by 10.4% during the 4th 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 period. Vestcor Inc lifted its position in 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 during the last quarter. Barclays PLC boosted 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 during the period. Principal Financial Group Inc. acquired a new position in shares of Five9 in the fourth quarter valued at approximately $268,000. Finally, Bullseye Asset Management LLC increased its stake in shares of Five9 by 13.7% during the third quarter. Bullseye Asset Management LLC now owns 103,768 shares of the software maker's stock worth $2,981,000 after purchasing an additional 12,500 shares during the period. 96.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Leena Mansharamani sold 1,135 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $30.20, for a total value of $34,277.00. Following the completion of the sale, the chief accounting officer now owns 47,165 shares of the company's stock, valued at approximately $1,424,383. This represents a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Andy Dignan sold 2,840 shares of Five9 stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $33.23, for a total value of $94,373.20. Following the completion of the transaction, the chief operating officer now directly owns 194,201 shares in the company, valued at approximately $6,453,299.23. This represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,574 shares of company stock valued at $1,004,346. Insiders own 1.80% of the company's stock.

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Five9 Price Performance

FIVN traded down $0.34 on Monday, reaching $22.66. The stock had a trading volume of 2,568,020 shares, compared to its average volume of 1,578,853. 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 company has a market capitalization of $1.72 billion, a price-to-earnings ratio of -113.29, a price-to-earnings-growth ratio of 9.41 and a beta of 1.29. Five9, Inc. has a fifty-two week low of $19.40 and a fifty-two week high of $63.30. The firm has a 50-day moving average of $34.86 and a 200-day moving average of $35.72.

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 (EPS) 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 firm had revenue of $278.66 million during the quarter, compared to analyst estimates of $267.70 million. As a group, sell-side analysts anticipate that Five9, Inc. will post 0.28 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FIVN shares. Rosenblatt Securities reiterated a "buy" rating and set a $58.00 price objective on shares of Five9 in a research report on Friday. William Blair reiterated an "outperform" rating on shares of Five9 in a research note on Thursday, March 13th. Royal Bank of Canada restated an "outperform" rating and set a $65.00 target price on shares of Five9 in a research report on Wednesday, March 19th. Truist Financial reiterated a "buy" rating and issued a $65.00 price target on shares of Five9 in a research note on Tuesday, December 17th. Finally, Barclays upped their target price on Five9 from $55.00 to $60.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $56.76.

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.