Proficio Capital Partners LLC Takes $1 Million Position in Five9, Inc. (NASDAQ:FIVN)

Proficio Capital Partners LLC acquired a new stake in Five9, Inc. (NASDAQ:FIVN) in the 4th quarter, Holdings Channel reports. The fund acquired 24,709 shares of the software maker’s stock, valued at approximately $1,004,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. FMR LLC boosted its holdings in shares of Five9 by 2.4% in the third quarter. FMR LLC now owns 11,159,760 shares of the software maker’s stock valued at $320,620,000 after acquiring an additional 259,820 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Five9 by 14.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,667,922 shares of the software maker’s stock valued at $47,919,000 after acquiring an additional 210,836 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Five9 by 14.9% during the third quarter. Fisher Asset Management LLC now owns 761,966 shares of the software maker’s stock valued at $21,891,000 after purchasing an additional 98,543 shares during the last quarter. Potrero Capital Research LLC acquired a new stake in Five9 during the third quarter valued at approximately $15,610,000. Finally, WCM Investment Management LLC lifted its stake in Five9 by 35.9% during the fourth quarter. WCM Investment Management LLC now owns 522,611 shares of the software maker’s stock valued at $21,281,000 after purchasing an additional 138,019 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, COO Andy Dignan sold 2,840 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $33.23, for a total transaction of $94,373.20. Following the transaction, the chief operating officer now owns 194,201 shares in the company, valued at $6,453,299.23. This represents a 1.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Leena Mansharamani sold 1,135 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $30.20, for a total transaction of $34,277.00. Following the transaction, the chief accounting officer now owns 47,165 shares in the company, valued at approximately $1,424,383. This trade represents a 2.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,874 shares of company stock worth $985,446 in the last quarter. 1.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Truist Financial reissued a “buy” rating and set a $65.00 target price on shares of Five9 in a research note on Tuesday, December 17th. Morgan Stanley increased their target price on shares of Five9 from $40.00 to $46.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 18th. Cantor Fitzgerald increased their target price on shares of Five9 from $46.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Royal Bank of Canada reissued an “outperform” rating and set a $65.00 target price on shares of Five9 in a research note on Wednesday. Finally, Barclays increased their target price on shares of Five9 from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.76.

Five9 Stock Up 1.7 %

FIVN stock opened at $30.14 on Friday. Five9, Inc. has a 12-month low of $26.60 and a 12-month high of $63.79. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32. The company has a market cap of $2.28 billion, a price-to-earnings ratio of -150.69, a PEG ratio of 9.41 and a beta of 1.01. The company has a 50 day moving average of $37.28 and a two-hundred day moving average of $35.71.

Five9 (NASDAQ:FIVN) last released its earnings results on Thursday, February 20th. The software maker reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $278.66 million during the quarter, compared to analysts’ expectations of $267.70 million. On average, equities analysts anticipate that Five9, Inc. will post 0.28 earnings per share for the current fiscal year.

Five9 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.