Zacks Investment Management Purchases Shares of 182,773 Five9, Inc. (NASDAQ:FIVN)

Zacks Investment Management purchased a new stake in shares of Five9, Inc. (NASDAQ:FIVN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 182,773 shares of the software maker's stock, valued at approximately $7,428,000. Zacks Investment Management owned about 0.24% of Five9 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in FIVN. Norges Bank purchased a new position in Five9 in the fourth quarter worth about $81,280,000. Wellington Management Group LLP boosted its stake in Five9 by 50.9% during the fourth quarter. Wellington Management Group LLP now owns 1,783,870 shares of the software maker's stock worth $72,496,000 after buying an additional 601,348 shares during the period. Cooper Creek Partners Management LLC bought a new position in Five9 during the fourth quarter valued at $14,782,000. Royce & Associates LP lifted its holdings in shares of Five9 by 1,219.0% in the 4th 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 during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Five9 during the 4th quarter valued at about $11,671,000. Hedge funds and other institutional investors own 96.64% of the company's stock.

Analyst Upgrades and Downgrades

FIVN has been the topic of several recent analyst reports. Wells Fargo & Company reduced their price target on Five9 from $45.00 to $23.00 and set an "equal weight" rating on the stock in a report on Tuesday. 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. Needham & Company LLC restated a "buy" rating and issued a $52.00 target price on shares of Five9 in a research note on Friday, April 4th. Mizuho lowered their price target on Five9 from $55.00 to $42.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Finally, Morgan Stanley cut their price target on Five9 from $48.00 to $28.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Five9 has a consensus rating of "Moderate Buy" and an average price target of $54.00.

Insider Buying and Selling at Five9

In other Five9 news, CEO Michael Burkland sold 12,595 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were 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 of the company's stock, valued at $14,396,515.28. This represents a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Panos Kozanian sold 7,619 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $33.40, for a total transaction of $254,474.60. Following the completion of the transaction, the executive vice president now owns 126,359 shares in the company, valued at approximately $4,220,390.60. This represents a 5.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,574 shares of company stock worth $1,004,346 in the last three months. 1.80% of the stock is owned by corporate insiders.

Five9 Price Performance

FIVN traded up $0.10 during trading on Tuesday, hitting $21.69. The company's stock had a trading volume of 220,883 shares, compared to its average volume of 1,600,086. The business's fifty day simple moving average is $30.45 and its 200 day simple moving average is $35.23. Five9, Inc. has a twelve month low of $21.04 and a twelve month high of $60.81. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of -108.27, a P/E/G ratio of 9.41 and a beta of 1.29. 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 (NASDAQ:FIVN - Get Free Report) last announced its earnings results on Thursday, February 20th. The software maker reported $0.26 earnings per share (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 analyst estimates of $267.70 million. On average, equities research analysts forecast that Five9, Inc. will post 0.28 EPS for the current fiscal year.

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.