51,739 Shares in Five9, Inc. (NASDAQ:FIVN) Acquired by Nordea Investment Management AB

Nordea Investment Management AB acquired a new stake in Five9, Inc. (NASDAQ:FIVN - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 51,739 shares of the software maker's stock, valued at approximately $3,239,000. Nordea Investment Management AB owned approximately 0.07% of Five9 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Assenagon Asset Management S.A. raised its stake in Five9 by 84.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 837,856 shares of the software maker's stock valued at $65,931,000 after buying an additional 383,002 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Five9 in the fourth quarter valued at $1,684,000. Alberta Investment Management Corp acquired a new stake in Five9 in the fourth quarter valued at $2,254,000. Trexquant Investment LP acquired a new stake in Five9 in the fourth quarter valued at $1,364,000. Finally, Tairen Capital Ltd acquired a new stake in Five9 in the fourth quarter valued at $5,836,000. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Five9

In other news, CEO Michael Burkland sold 12,386 shares of the company's stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $46.30, for a total transaction of $573,471.80. Following the completion of the sale, the chief executive officer now directly owns 266,083 shares in the company, valued at approximately $12,319,642.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Barry Zwarenstein sold 10,291 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $42.64, for a total value of $438,808.24. Following the completion of the sale, the chief financial officer now directly owns 107,255 shares in the company, valued at approximately $4,573,353.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Burkland sold 12,386 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $46.30, for a total value of $573,471.80. Following the completion of the sale, the chief executive officer now owns 266,083 shares of the company's stock, valued at $12,319,642.90. The disclosure for this sale can be found here. Insiders sold a total of 44,541 shares of company stock worth $2,024,537 in the last ninety days. Insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FIVN. UBS Group cut their target price on Five9 from $90.00 to $81.00 and set a "buy" rating on the stock in a research report on Friday, May 3rd. Wells Fargo & Company cut their target price on Five9 from $85.00 to $80.00 and set an "overweight" rating on the stock in a research report on Monday, June 10th. Piper Sandler lowered their price target on Five9 from $86.00 to $58.00 and set an "overweight" rating on the stock in a report on Wednesday. Canaccord Genuity Group lowered their price target on Five9 from $90.00 to $75.00 and set a "buy" rating on the stock in a report on Monday, April 22nd. Finally, Needham & Company LLC reissued a "buy" rating and set a $90.00 price target on shares of Five9 in a report on Thursday, June 6th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $80.71.

Five9 Price Performance

FIVN stock traded up $1.72 on Thursday, reaching $41.72. The company had a trading volume of 2,252,381 shares, compared to its average volume of 1,316,598. Five9, Inc. has a 1 year low of $39.07 and a 1 year high of $92.40. The company has a debt-to-equity ratio of 2.41, a quick ratio of 7.02 and a current ratio of 7.02. The company's fifty day moving average is $46.49 and its 200 day moving average is $60.24. The company has a market cap of $3.08 billion, a P/E ratio of -49.08 and a beta of 0.82.

Five9 (NASDAQ:FIVN - Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The software maker reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.26) by $0.13. Five9 had a negative return on equity of 9.09% and a negative net margin of 6.56%. The company had revenue of $247.01 million for the quarter, compared to analyst estimates of $239.72 million. On average, research analysts forecast that Five9, Inc. will post -0.3 earnings per share for the current year.

Five9 Profile

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States 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.