Harvey Capital Management Inc. Invests $1.72 Million in Five9, Inc. (NASDAQ:FIVN)

Harvey Capital Management Inc. acquired a new position in shares of Five9, Inc. (NASDAQ:FIVN - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 59,776 shares of the software maker's stock, valued at approximately $1,717,000. Harvey Capital Management Inc. owned approximately 0.08% of Five9 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Signaturefd LLC lifted its stake in shares of Five9 by 1,892.3% in the third quarter. Signaturefd LLC now owns 1,036 shares of the software maker's stock worth $30,000 after acquiring an additional 984 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Five9 in the second quarter worth about $57,000. Cetera Advisors LLC acquired a new position in shares of Five9 in the first quarter worth about $226,000. ProShare Advisors LLC acquired a new position in shares of Five9 in the first quarter worth about $247,000. Finally, Edgestream Partners L.P. acquired a new position in shares of Five9 in the first quarter worth about $264,000. Institutional investors and hedge funds own 96.64% of the company's stock.

Five9 Price Performance

FIVN traded up $1.43 during trading on Friday, reaching $30.96. The stock had a trading volume of 1,336,316 shares, compared to its average volume of 1,277,397. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of -43.00 and a beta of 0.85. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 1.39. Five9, Inc. has a 1-year low of $26.60 and a 1-year high of $92.40. The stock has a 50 day moving average of $29.51 and a two-hundred day moving average of $40.02.

Five9 (NASDAQ:FIVN - Get Free Report) last released its earnings results on Thursday, August 8th. The software maker reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.20) by $0.14. The firm had revenue of $252.09 million during the quarter, compared to the consensus estimate of $244.54 million. Five9 had a negative return on equity of 6.59% and a negative net margin of 5.44%. As a group, equities analysts anticipate that Five9, Inc. will post -0.09 EPS for the current fiscal year.

Insider Activity

In other news, CAO Leena Mansharamani sold 1,395 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $30.51, for a total transaction of $42,561.45. Following the completion of the sale, the chief accounting officer now owns 36,872 shares in the company, valued at approximately $1,124,964.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Leena Mansharamani sold 1,395 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $30.51, for a total transaction of $42,561.45. Following the completion of the sale, the chief accounting officer now owns 36,872 shares in the company, valued at approximately $1,124,964.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Barry Zwarenstein sold 4,408 shares of the business's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $26.97, for a total transaction of $118,883.76. Following the sale, the chief financial officer now directly owns 101,732 shares in the company, valued at approximately $2,743,712.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,493 shares of company stock worth $1,097,753. Insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on FIVN. Baird R W lowered Five9 from a "strong-buy" rating to a "hold" rating in a report on Friday, August 9th. Morgan Stanley lowered their price objective on Five9 from $45.00 to $37.00 and set an "equal weight" rating for the company in a report on Tuesday, October 15th. Roth Mkm lowered their price objective on Five9 from $90.00 to $67.00 and set a "buy" rating for the company in a report on Friday, August 9th. StockNews.com raised Five9 from a "sell" rating to a "hold" rating in a report on Thursday, August 8th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $48.00 price objective on shares of Five9 in a report on Wednesday, August 21st. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Five9 has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

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.