Massachusetts Financial Services Co. MA Sells 932,390 Shares of Five9, Inc. (NASDAQ:FIVN)

Massachusetts Financial Services Co. MA lessened its holdings in shares of Five9, Inc. (NASDAQ:FIVN - Free Report) by 55.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 735,532 shares of the software maker's stock after selling 932,390 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.98% of Five9 worth $29,892,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. PNC Financial Services Group Inc. increased its stake in Five9 by 10.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,836 shares of the software maker's stock valued at $156,000 after acquiring an additional 365 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Five9 by 2.0% in the 4th quarter. Arizona State Retirement System now owns 21,694 shares of the software maker's stock worth $882,000 after purchasing an additional 424 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in shares of Five9 by 155.7% in the 4th quarter. Lindbrook Capital LLC now owns 854 shares of the software maker's stock worth $35,000 after purchasing an additional 520 shares in the last quarter. Xponance Inc. increased its position in shares of Five9 by 6.1% during the 4th quarter. Xponance Inc. now owns 9,421 shares of the software maker's stock valued at $383,000 after purchasing an additional 539 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Five9 by 3.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,739 shares of the software maker's stock valued at $802,000 after buying an additional 670 shares in the last quarter. Hedge funds and other institutional investors own 96.64% of the company's stock.

Insider Buying and Selling

In other Five9 news, CEO Michael Burkland sold 12,595 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $35.63, for a total value of $448,759.85. Following the sale, the chief executive officer now owns 404,056 shares in the company, valued at approximately $14,396,515.28. This represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Andy Dignan sold 2,840 shares of Five9 stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $33.23, for a total transaction of $94,373.20. Following the transaction, the chief operating officer now owns 194,201 shares of the company's stock, valued at $6,453,299.23. The trade was a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,574 shares of company stock worth $1,004,346 in the last three months. 1.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on FIVN. William Blair reaffirmed an "outperform" rating on shares of Five9 in a research note on Thursday, March 13th. Truist Financial reaffirmed a "buy" rating and issued a $65.00 price objective on shares of Five9 in a research note on Tuesday, December 17th. Needham & Company LLC reiterated a "buy" rating and issued a $52.00 target price on shares of Five9 in a research report on Friday, April 4th. Barclays upped their price target on shares of Five9 from $55.00 to $60.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $58.00 price objective on shares of Five9 in a report on Friday, April 4th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $56.76.

Five9 Trading Down 0.7 %

FIVN stock traded down $0.16 during trading on Friday, reaching $23.07. The company had a trading volume of 1,518,499 shares, compared to its average volume of 1,596,763. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85. Five9, Inc. has a 52 week low of $21.04 and a 52 week high of $60.81. The business has a 50 day moving average of $32.71 and a 200 day moving average of $35.42. The company has a market cap of $1.75 billion, a P/E ratio of -115.34, a PEG ratio of 9.41 and a beta of 1.29.

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

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.