Coronation Fund Managers Ltd. Lowers Stake in Five9, Inc. (NASDAQ:FIVN)

Coronation Fund Managers Ltd. trimmed its holdings in Five9, Inc. (NASDAQ:FIVN) by 16.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 150,791 shares of the software maker’s stock after selling 28,847 shares during the quarter. Coronation Fund Managers Ltd.’s holdings in Five9 were worth $6,650,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Sylebra Capital LLC increased its position in Five9 by 28.4% in the 2nd quarter. Sylebra Capital LLC now owns 3,013,789 shares of the software maker’s stock valued at $132,908,000 after acquiring an additional 666,681 shares during the period. Point72 Asset Management L.P. raised its stake in shares of Five9 by 347.4% during the second quarter. Point72 Asset Management L.P. now owns 753,127 shares of the software maker’s stock worth $33,213,000 after purchasing an additional 584,800 shares during the last quarter. Van Berkom & Associates Inc. raised its stake in shares of Five9 by 52.3% during the second quarter. Van Berkom & Associates Inc. now owns 1,299,483 shares of the software maker’s stock worth $57,307,000 after purchasing an additional 446,151 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Five9 by 38.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,457,086 shares of the software maker’s stock worth $64,257,000 after purchasing an additional 406,188 shares during the period. Finally, Balyasny Asset Management L.P. grew its position in Five9 by 123.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 648,441 shares of the software maker’s stock valued at $51,026,000 after buying an additional 358,887 shares during the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

Five9 Stock Down 5.1 %

Five9 stock opened at $27.26 on Wednesday. Five9, Inc. has a fifty-two week low of $26.60 and a fifty-two week high of $92.40. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of -32.07 and a beta of 0.86. The stock’s fifty day moving average is $33.83 and its two-hundred day moving average is $45.26. 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 (NASDAQ:FIVN) last issued its quarterly earnings data on Thursday, August 8th. The software maker reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.14. The firm had revenue of $252.09 million for 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 predict that Five9, Inc. will post -0.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FIVN has been the subject of a number of analyst reports. Barclays cut their price objective on shares of Five9 from $75.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Truist Financial reissued a “buy” rating and set a $65.00 price target on shares of Five9 in a report on Tuesday, August 27th. Roth Mkm lowered their price objective on Five9 from $90.00 to $67.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Northland Securities cut their target price on Five9 from $95.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Finally, StockNews.com raised Five9 from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.35.

Insider Activity

In related news, EVP Panos Kozanian sold 7,617 shares of Five9 stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $30.02, for a total transaction of $228,662.34. Following the completion of the transaction, the executive vice president now directly owns 76,628 shares in the company, valued at approximately $2,300,372.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Panos Kozanian sold 7,617 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $30.02, for a total transaction of $228,662.34. Following the sale, the executive vice president now owns 76,628 shares of the company’s stock, valued at $2,300,372.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Barry Zwarenstein sold 6,207 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were 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 of the company’s stock, valued at approximately $3,831,296.21. 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 ninety days. 1.80% of the stock is currently owned by insiders.

Five9 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.