Sei Investments Co. Raises Stock Position in Five9, Inc. (NASDAQ:FIVN)

Sei Investments Co. lifted its stake in Five9, Inc. (NASDAQ:FIVN) by 17.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 225,155 shares of the software maker’s stock after purchasing an additional 32,946 shares during the period. Sei Investments Co. owned 0.30% of Five9 worth $9,929,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of FIVN. Cetera Advisors LLC purchased a new stake in Five9 in the first quarter worth about $226,000. ProShare Advisors LLC bought a new stake in shares of Five9 during the first quarter valued at approximately $247,000. Edgestream Partners L.P. bought a new stake in shares of Five9 during the first quarter valued at approximately $264,000. Quent Capital LLC grew its stake 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 during the period. Finally, Cynosure Group LLC bought a new position in Five9 in the first quarter worth $329,000. Institutional investors own 96.64% of the company’s stock.

Insider Buying and Selling

In other Five9 news, CAO Leena Mansharamani sold 1,395 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $30.51, for a total value of $42,561.45. Following the transaction, the chief accounting officer now directly owns 36,872 shares of the company’s stock, valued at $1,124,964.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Leena Mansharamani sold 1,395 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $30.51, for a total value of $42,561.45. Following the transaction, the chief accounting officer now owns 36,872 shares in the company, valued at approximately $1,124,964.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Barry Zwarenstein sold 6,207 shares of the business’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 $3,831,296.21. The disclosure for this sale can be found here. Insiders sold 45,337 shares of company stock valued at $1,491,971 over the last 90 days. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 target price on shares of Five9 in a research report on Wednesday, August 21st. Morgan Stanley cut their price objective on shares of Five9 from $70.00 to $50.00 and set an “equal weight” rating on the stock in a report on Friday, June 14th. StockNews.com upgraded shares of Five9 from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Piper Sandler restated an “overweight” rating and issued a $47.00 price target on shares of Five9 in a research note on Wednesday, August 21st. Finally, Northland Securities reduced their price objective on Five9 from $95.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.35.

Five9 Price Performance

FIVN opened at $28.76 on Friday. The company’s 50-day simple moving average is $34.13 and its two-hundred day simple moving average is $45.69. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.15 and a current ratio of 2.15. The stock has a market capitalization of $2.12 billion, a P/E ratio of -33.83 and a beta of 0.86. 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 for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.14. Five9 had a negative net margin of 5.44% and a negative return on equity of 6.59%. The company had revenue of $252.09 million for the quarter, compared to the consensus estimate of $244.54 million. As a group, analysts predict that Five9, Inc. will post -0.09 EPS for the current year.

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.