Oppenheimer Asset Management Inc. Decreases Position in Five9, Inc. (NASDAQ:FIVN)

Oppenheimer Asset Management Inc. reduced its holdings in Five9, Inc. (NASDAQ:FIVN - Free Report) by 57.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,202 shares of the software maker's stock after selling 23,583 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Five9 were worth $494,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Signaturefd LLC lifted its holdings in Five9 by 1,892.3% during the third quarter. Signaturefd LLC now owns 1,036 shares of the software maker's stock valued at $30,000 after purchasing an additional 984 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Five9 in the 2nd quarter worth about $57,000. Cetera Advisors LLC purchased a new position in shares of Five9 in the first quarter valued at approximately $226,000. ProShare Advisors LLC acquired a new stake in shares of Five9 in the first quarter worth approximately $247,000. Finally, Edgestream Partners L.P. acquired a new position in Five9 in the 1st quarter valued at $264,000. Institutional investors and hedge funds own 96.64% of the company's stock.

Five9 Stock Up 0.8 %

Shares of FIVN stock traded up $0.32 during trading on Wednesday, reaching $38.00. The company's stock had a trading volume of 1,050,884 shares, compared to its average volume of 1,530,589. Five9, Inc. has a 1-year low of $26.60 and a 1-year high of $92.40. The stock's 50-day moving average price is $30.76 and its 200 day moving average price is $38.13. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of -76.00, a P/E/G ratio of 22.98 and a beta of 0.85. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FIVN. DA Davidson upped their target price on shares of Five9 from $40.00 to $45.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Barclays dropped their price objective on shares of Five9 from $75.00 to $55.00 and set an "overweight" rating for the company in a research note on Friday, August 9th. Baird R W lowered shares of Five9 from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 9th. Truist Financial restated a "buy" rating and issued a $65.00 price target on shares of Five9 in a research report on Tuesday, August 27th. Finally, BTIG Research reduced their price objective on Five9 from $100.00 to $45.00 and set a "buy" rating on the stock in a research report on Friday, August 9th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.22.

Insiders Place Their Bets

In related news, CRO Daniel P. Burkland sold 2,605 shares of the business's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $33.41, for a total transaction of $87,033.05. Following the completion of the transaction, the executive now owns 132,554 shares in the company, valued at approximately $4,428,629.14. The trade was a 1.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Barry Zwarenstein sold 4,408 shares of the firm's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $26.97, for a total value of $118,883.76. Following the completion of the sale, the chief financial officer now owns 101,732 shares in the company, valued at approximately $2,743,712.04. This represents a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,493 shares of company stock worth $1,097,753 over the last 90 days. Corporate insiders own 1.80% of the company's stock.

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.