Pictet Asset Management Holding SA Decreases Position in Five9, Inc. (NASDAQ:FIVN)

Pictet Asset Management Holding SA cut its stake in shares of Five9, Inc. (NASDAQ:FIVN - Free Report) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,583,265 shares of the software maker's stock after selling 198,126 shares during the period. Pictet Asset Management Holding SA owned about 8.75% of Five9 worth $267,544,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in Five9 in the fourth quarter valued at about $81,280,000. Loomis Sayles & Co. L P raised its holdings in Five9 by 20.7% in the 4th quarter. Loomis Sayles & Co. L P now owns 470,909 shares of the software maker's stock valued at $19,138,000 after buying an additional 80,689 shares during the last quarter. Segall Bryant & Hamill LLC boosted its position in Five9 by 67.8% during the 4th quarter. Segall Bryant & Hamill LLC now owns 215,516 shares of the software maker's stock worth $8,759,000 after buying an additional 87,099 shares during the period. Summit Creek Advisors LLC grew its holdings in Five9 by 24.1% during the 4th quarter. Summit Creek Advisors LLC now owns 216,882 shares of the software maker's stock worth $8,814,000 after acquiring an additional 42,146 shares during the last quarter. Finally, LPL Financial LLC acquired a new position in Five9 in the 4th quarter valued at approximately $328,000. Institutional investors and hedge funds own 96.64% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FIVN. Cantor Fitzgerald boosted their price objective on shares of Five9 from $46.00 to $57.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Barclays upped their price target on Five9 from $55.00 to $60.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Piper Sandler raised their price objective on Five9 from $46.00 to $53.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Needham & Company LLC reiterated a "buy" rating and issued a $52.00 target price on shares of Five9 in a report on Monday, March 17th. Finally, William Blair restated an "outperform" rating on shares of Five9 in a report on Thursday, March 13th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Five9 has a consensus rating of "Moderate Buy" and a consensus target price of $56.76.

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Five9 Stock Up 0.2 %

FIVN stock traded up $0.05 during midday trading on Tuesday, reaching $27.20. 384,629 shares of the company's stock traded hands, compared to its average volume of 1,555,918. Five9, Inc. has a 52 week low of $26.43 and a 52 week high of $63.30. The company has a market cap of $2.06 billion, a price-to-earnings ratio of -136.78, a P/E/G ratio of 9.41 and a beta of 1.01. The firm's fifty day moving average price is $36.31 and its 200-day moving average price is $35.84. 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 (NASDAQ:FIVN - Get Free Report) last posted its earnings results on Thursday, February 20th. The software maker reported $0.26 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.44). Five9 had a positive return on equity of 3.62% and a negative net margin of 1.23%. The business had revenue of $278.66 million for the quarter, compared to the consensus estimate of $267.70 million. As a group, sell-side analysts forecast that Five9, Inc. will post 0.28 earnings per share for the current fiscal year.

Insider Activity at Five9

In other news, EVP Panos Kozanian sold 7,619 shares of the stock in a transaction dated 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 in the company, valued at $4,220,390.60. This represents a 5.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael Burkland sold 12,595 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $35.63, for a total transaction of $448,759.85. Following the transaction, the chief executive officer now owns 404,056 shares in the company, valued at approximately $14,396,515.28. This trade represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 28,874 shares of company stock valued at $985,446. 1.80% of the stock is owned by insiders.

Five9 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.