Five9, Inc. (NASDAQ:FIVN) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its position in Five9, Inc. (NASDAQ:FIVN) by 9.4% in the third quarter, Holdings Channel reports. The firm owned 15,316 shares of the software maker’s stock after selling 1,584 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Five9 were worth $440,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Signaturefd LLC lifted its holdings in Five9 by 1,892.3% in the third quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock worth $30,000 after acquiring an additional 984 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Five9 in the second quarter worth about $57,000. Quest Partners LLC bought a new position in Five9 in the third quarter worth about $95,000. nVerses Capital LLC bought a new position in Five9 in the third quarter worth about $141,000. Finally, Cetera Advisors LLC bought a new position in Five9 in the first quarter worth about $226,000. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on FIVN. Rosenblatt Securities lifted their price target on Five9 from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, November 8th. Robert W. Baird lifted their price target on Five9 from $40.00 to $43.00 and gave the company a “neutral” rating in a report on Monday, November 11th. DA Davidson lifted their price target on Five9 from $40.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $48.00 price target on shares of Five9 in a report on Friday, November 8th. Finally, Piper Sandler raised their price objective on shares of Five9 from $35.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $57.41.

Five9 Stock Down 2.8 %

FIVN stock opened at $42.21 on Monday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.32. Five9, Inc. has a 1 year low of $26.60 and a 1 year high of $85.00. The company has a fifty day simple moving average of $35.53 and a 200 day simple moving average of $36.79. The firm has a market cap of $3.17 billion, a PE ratio of -84.42, a PEG ratio of 28.88 and a beta of 0.92.

Insider Activity at Five9

In other Five9 news, CEO Michael Burkland sold 12,594 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $41.40, for a total transaction of $521,391.60. Following the completion of the transaction, the chief executive officer now owns 240,894 shares of the company’s stock, valued at $9,973,011.60. The trade was a 4.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Andy Dignan sold 4,109 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $41.85, for a total transaction of $171,961.65. Following the transaction, the chief operating officer now directly owns 115,818 shares of the company’s stock, valued at approximately $4,846,983.30. This represents a 3.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,004 shares of company stock valued at $1,209,279. Insiders own 1.80% of the company’s stock.

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.