Armistice Capital LLC Increases Position in Five9, Inc. (NASDAQ:FIVN)

Armistice Capital LLC lifted its stake in Five9, Inc. (NASDAQ:FIVN) by 56.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 722,582 shares of the software maker’s stock after purchasing an additional 261,476 shares during the quarter. Armistice Capital LLC’s holdings in Five9 were worth $31,866,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Quent Capital LLC raised its holdings in Five9 by 8.7% in the second quarter. Quent Capital LLC now owns 4,379 shares of the software maker’s stock worth $193,000 after purchasing an additional 352 shares in the last quarter. Cetera Advisors LLC bought a new stake in shares of Five9 in the 1st quarter valued at about $226,000. ProShare Advisors LLC purchased a new position in shares of Five9 in the 1st quarter worth approximately $247,000. Edgestream Partners L.P. bought a new position in shares of Five9 during the 1st quarter worth approximately $264,000. Finally, Lombard Odier Asset Management USA Corp bought a new position in shares of Five9 during the 2nd quarter worth approximately $271,000. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Five9

In related news, CFO Barry Zwarenstein sold 6,207 shares of Five9 stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $45.01, for a total transaction of $279,377.07. Following the completion of the transaction, the chief financial officer now directly owns 85,121 shares in the company, valued at $3,831,296.21. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Barry Zwarenstein sold 6,207 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $45.01, for a total transaction of $279,377.07. Following the sale, the chief financial officer now owns 85,121 shares of the company’s stock, valued at approximately $3,831,296.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Panos Kozanian sold 7,617 shares of Five9 stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $30.02, for a total transaction of $228,662.34. Following the transaction, the executive vice president now directly owns 76,628 shares of the company’s stock, valued at $2,300,372.56. The disclosure for this sale can be found here. Insiders have sold 45,337 shares of company stock worth $1,491,971 over the last quarter. 1.80% of the stock is currently owned by insiders.

Five9 Stock Performance

Shares of NASDAQ FIVN opened at $27.78 on Thursday. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of -32.68 and a beta of 0.86. Five9, Inc. has a 12 month low of $26.60 and a 12 month high of $92.40. The company has a 50 day simple moving average of $34.76 and a two-hundred day simple moving average of $46.03. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 1.39.

Five9 (NASDAQ:FIVN) last posted its earnings results 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 company had revenue of $252.09 million during the quarter, compared to the consensus estimate of $244.54 million. Five9 had a negative net margin of 5.44% and a negative return on equity of 6.59%. As a group, analysts predict that Five9, Inc. will post -0.09 earnings per share for the current year.

Analysts Set New Price Targets

FIVN has been the subject of several recent analyst reports. Northland Securities lowered their target price on shares of Five9 from $95.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Rosenblatt Securities lowered their price objective on Five9 from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Baird R W downgraded Five9 from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Needham & Company LLC reiterated a “buy” rating and issued a $48.00 price target on shares of Five9 in a research note on Wednesday, August 21st. Finally, Robert W. Baird downgraded Five9 from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $90.00 to $40.00 in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.35.

Five9 Company Profile

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.