Norges Bank Buys Shares of 2,000,000 Five9, Inc. (NASDAQ:FIVN)

Norges Bank purchased a new stake in Five9, Inc. (NASDAQ:FIVN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,000,000 shares of the software maker's stock, valued at approximately $81,280,000. Norges Bank owned about 2.66% of Five9 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of FIVN. Potrero Capital Research LLC bought a new position in Five9 during the 3rd quarter worth $15,610,000. WCM Investment Management LLC grew its stake in shares of Five9 by 35.9% in the fourth quarter. WCM Investment Management LLC now owns 522,611 shares of the software maker's stock valued at $21,281,000 after acquiring an additional 138,019 shares in the last quarter. Loomis Sayles & Co. L P increased its position in Five9 by 20.7% during the fourth quarter. Loomis Sayles & Co. L P now owns 470,909 shares of the software maker's stock worth $19,138,000 after acquiring an additional 80,689 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Five9 by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 465,702 shares of the software maker's stock worth $18,926,000 after purchasing an additional 8,445 shares in the last quarter. Finally, Gagnon Securities LLC boosted its holdings in 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. Institutional investors and hedge funds own 96.64% of the company's stock.

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Wall Street Analysts Forecast Growth

FIVN has been the topic of several recent research reports. Barclays raised their target price on shares of Five9 from $55.00 to $60.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Royal Bank of Canada restated an "outperform" rating and set a $65.00 price objective on shares of Five9 in a research note on Wednesday, March 19th. William Blair reiterated an "outperform" rating on shares of Five9 in a research report on Thursday, March 13th. Piper Sandler increased their target price on Five9 from $46.00 to $53.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Five9 in a research note on Wednesday, April 2nd. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Five9 currently has an average rating of "Moderate Buy" and an average target price of $56.76.

Five9 Price Performance

Shares of NASDAQ FIVN traded down $0.34 during midday trading on Monday, reaching $22.66. 2,568,020 shares of the company were exchanged, compared to its average volume of 1,578,852. The stock's 50-day moving average price is $34.86 and its 200-day moving average price is $35.72. The stock has a market cap of $1.72 billion, a P/E ratio of -113.29, a PEG ratio of 9.41 and a beta of 1.29. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32. Five9, Inc. has a one year low of $21.30 and a one year high of $63.30.

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

Insider Activity

In related news, COO Andy Dignan sold 2,840 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $33.23, for a total value of $94,373.20. Following the sale, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Panos Kozanian sold 7,619 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $33.40, for a total value of $254,474.60. Following the completion of the sale, the executive vice president now owns 126,359 shares of the company's stock, valued at $4,220,390.60. The trade was a 5.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,574 shares of company stock valued at $1,004,346 over the last quarter. 1.80% of the stock is owned by company insiders.

Five9 Company Profile

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.