Tremblant Capital Group Sells 114,626 Shares of Five9, Inc. (NASDAQ:FIVN)

Tremblant Capital Group trimmed its holdings in shares of Five9, Inc. (NASDAQ:FIVN) by 16.7% in the second quarter, Holdings Channel.com reports. The fund owned 573,440 shares of the software maker’s stock after selling 114,626 shares during the quarter. Five9 accounts for approximately 2.7% of Tremblant Capital Group’s portfolio, making the stock its 19th largest position. Tremblant Capital Group’s holdings in Five9 were worth $25,289,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cetera Advisors LLC bought a new position in shares of Five9 during the 1st quarter worth about $226,000. ProShare Advisors LLC bought a new position in Five9 during the 1st quarter valued at about $247,000. Edgestream Partners L.P. bought a new position in Five9 during the 1st quarter valued at about $264,000. Quent Capital LLC lifted its holdings in Five9 by 8.7% during the 2nd quarter. Quent Capital LLC now owns 4,379 shares of the software maker’s stock valued at $193,000 after purchasing an additional 352 shares during the last quarter. Finally, Cynosure Group LLC bought a new position in Five9 during the 1st quarter valued at about $329,000. 96.64% of the stock is owned by institutional investors.

Five9 Stock Down 0.6 %

Shares of NASDAQ FIVN opened at $27.59 on Tuesday. The stock has a market cap of $2.04 billion, a P/E ratio of -32.46 and a beta of 0.86. The firm has a 50 day moving average price of $35.49 and a 200 day moving average price of $46.38. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.15 and a current ratio of 2.15. Five9, Inc. has a 52-week low of $26.60 and a 52-week high of $92.40.

Five9 (NASDAQ:FIVN) last issued its quarterly earnings data on Thursday, August 8th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.14. The firm had revenue of $252.09 million during the quarter, compared to analysts’ expectations of $244.54 million. Five9 had a negative net margin of 5.44% and a negative return on equity of 6.59%. Analysts expect that Five9, Inc. will post -0.09 EPS for the current year.

Insider Activity at Five9

In related news, CAO Leena Mansharamani sold 1,395 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $30.51, for a total transaction of $42,561.45. Following the completion of the transaction, the chief accounting officer now owns 36,872 shares in the company, valued at $1,124,964.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Five9 news, CFO Barry Zwarenstein sold 4,408 shares of Five9 stock in a transaction that occurred 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 transaction, the chief financial officer now owns 101,732 shares of the company’s stock, valued at $2,743,712.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Leena Mansharamani sold 1,395 shares of Five9 stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $30.51, for a total transaction of $42,561.45. Following the completion of the transaction, the chief accounting officer now directly owns 36,872 shares in the company, valued at approximately $1,124,964.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,337 shares of company stock worth $1,491,971. 1.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

FIVN has been the subject of several analyst reports. Barclays cut their price target on shares of Five9 from $75.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, August 9th. BTIG Research dropped their target price on shares of Five9 from $100.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Rosenblatt Securities dropped their target price on shares of Five9 from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Morgan Stanley dropped their target price on shares of Five9 from $70.00 to $50.00 and set an “equal weight” rating for the company in a research note on Friday, June 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 target price on shares of Five9 in a research note on Wednesday, August 21st. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.35.

About Five9

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States 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.