Raymond James Financial Inc. Makes New $11.67 Million Investment in Five9, Inc. (NASDAQ:FIVN)

Raymond James Financial Inc. acquired a new position in Five9, Inc. (NASDAQ:FIVN - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 287,180 shares of the software maker's stock, valued at approximately $11,671,000. Raymond James Financial Inc. owned 0.38% of Five9 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. FMR LLC increased its position in shares of Five9 by 2.4% in the third quarter. FMR LLC now owns 11,159,760 shares of the software maker's stock valued at $320,620,000 after buying an additional 259,820 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Five9 by 14.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,667,922 shares of the software maker's stock worth $47,919,000 after acquiring an additional 210,836 shares in the last quarter. Fisher Asset Management LLC raised its position in Five9 by 14.9% during the third quarter. Fisher Asset Management LLC now owns 761,966 shares of the software maker's stock worth $21,891,000 after acquiring an additional 98,543 shares during the period. Potrero Capital Research LLC acquired a new stake in shares of Five9 in the third quarter valued at about $15,610,000. Finally, WCM Investment Management LLC increased its stake in shares of Five9 by 35.9% during the fourth quarter. WCM Investment Management LLC now owns 522,611 shares of the software maker's stock worth $21,281,000 after purchasing an additional 138,019 shares in the last quarter. 96.64% of the stock is owned by hedge funds and other institutional investors.

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Five9 Trading Up 2.4 %

FIVN stock traded up $0.73 during midday trading on Monday, hitting $30.87. 1,402,208 shares of the company's stock were exchanged, compared to its average volume of 1,529,612. Five9, Inc. has a 1-year low of $26.60 and a 1-year high of $63.79. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $2.34 billion, a PE ratio of -154.34, a P/E/G ratio of 9.41 and a beta of 1.01. The business has a 50-day simple moving average of $37.28 and a two-hundred day simple moving average of $35.79.

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 (EPS) for the quarter, missing analysts' consensus estimates 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 analyst estimates of $267.70 million. On average, sell-side analysts predict that Five9, Inc. will post 0.28 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on FIVN shares. Barclays raised their price target on shares of Five9 from $55.00 to $60.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $65.00 price target on shares of Five9 in a research note on Wednesday, March 19th. Piper Sandler increased their price objective on Five9 from $46.00 to $53.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Cantor Fitzgerald lifted their target price 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. Finally, William Blair reiterated an "outperform" rating on shares of Five9 in a research report on Thursday, March 13th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, Five9 presently has an average rating of "Moderate Buy" and a consensus target price of $56.76.

Insider Activity

In related news, EVP Panos Kozanian sold 7,619 shares of Five9 stock in a transaction that occurred 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 in the company, valued at approximately $4,220,390.60. This trade represents a 5.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Burkland sold 12,595 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $35.63, for a total value of $448,759.85. Following the transaction, the chief executive officer now owns 404,056 shares in the company, valued at $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 have sold 28,874 shares of company stock valued at $985,446. Company 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.