Five9, Inc. (NASDAQ:FIVN) Shares Sold by Sei Investments Co.

Sei Investments Co. lessened its position in shares of Five9, Inc. (NASDAQ:FIVN - Free Report) by 60.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,320 shares of the software maker's stock after selling 51,854 shares during the period. Sei Investments Co.'s holdings in Five9 were worth $1,354,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the business. WCM Investment Management LLC grew its holdings in Five9 by 35.9% during the 4th quarter. WCM Investment Management LLC now owns 522,611 shares of the software maker's stock worth $21,281,000 after acquiring an additional 138,019 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Five9 by 1.8% during the fourth 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 during the period. Gagnon Securities LLC increased its stake in shares of 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 acquiring an additional 34,597 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Five9 by 55.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 338,078 shares of the software maker's stock valued at $13,739,000 after purchasing an additional 120,776 shares during the period. Finally, Royce & Associates LP boosted its holdings in Five9 by 1,219.0% in the fourth quarter. Royce & Associates LP now owns 329,760 shares of the software maker's stock worth $13,401,000 after acquiring an additional 304,760 shares in the last quarter. Institutional investors and hedge funds own 96.64% of the company's stock.

Five9 Stock Performance

Shares of NASDAQ FIVN traded down $0.16 during midday trading on Friday, reaching $23.07. The company had a trading volume of 1,518,499 shares, compared to its average volume of 1,596,763. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.32. Five9, Inc. has a 1 year low of $21.04 and a 1 year high of $60.81. The stock has a market cap of $1.75 billion, a P/E ratio of -115.34, a P/E/G ratio of 9.41 and a beta of 1.29. The business's 50-day simple moving average is $32.71 and its 200 day simple moving average is $35.42.

Five9 (NASDAQ:FIVN - Get Free Report) last issued its quarterly 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 company had revenue of $278.66 million during the quarter, compared to analysts' expectations of $267.70 million. On average, analysts forecast that Five9, Inc. will post 0.28 earnings per share for the current fiscal year.

Insider Activity at Five9

In other news, CEO Michael Burkland sold 12,595 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $35.63, for a total transaction of $448,759.85. Following the completion of the sale, the chief executive officer now owns 404,056 shares in the company, valued at approximately $14,396,515.28. This represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, the executive vice president now owns 126,359 shares in the company, valued at $4,220,390.60. This trade represents a 5.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,574 shares of company stock worth $1,004,346. Insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on FIVN. Royal Bank of Canada reiterated an "outperform" rating and set a $65.00 price target on shares of Five9 in a report on Wednesday, March 19th. William Blair reaffirmed an "outperform" rating on shares of Five9 in a report on Thursday, March 13th. Morgan Stanley increased their target price on shares of Five9 from $40.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Wednesday, December 18th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $58.00 price objective on shares of Five9 in a report on Friday, April 4th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Five9 in a research note on Wednesday, April 2nd. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Five9 currently has an average rating of "Moderate Buy" and a consensus target price of $56.76.

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.