Harvest Fund Management Co. Ltd Takes Position in Five9, Inc. (NASDAQ:FIVN)

Harvest Fund Management Co. Ltd purchased a new stake in shares of Five9, Inc. (NASDAQ:FIVN) during the 4th quarter, HoldingsChannel reports. The fund purchased 7,796 shares of the software maker’s stock, valued at approximately $317,000.

Other hedge funds also recently modified their holdings of the company. PNC Financial Services Group Inc. grew its holdings in shares of Five9 by 10.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,836 shares of the software maker’s stock worth $156,000 after acquiring an additional 365 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Five9 by 2.0% in the 4th quarter. Arizona State Retirement System now owns 21,694 shares of the software maker’s stock worth $882,000 after acquiring an additional 424 shares during the last quarter. Lindbrook Capital LLC grew its holdings in shares of Five9 by 155.7% in the 4th quarter. Lindbrook Capital LLC now owns 854 shares of the software maker’s stock worth $35,000 after acquiring an additional 520 shares during the last quarter. Xponance Inc. grew its holdings in shares of Five9 by 6.1% in the 4th quarter. Xponance Inc. now owns 9,421 shares of the software maker’s stock worth $383,000 after acquiring an additional 539 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Five9 by 3.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,739 shares of the software maker’s stock worth $802,000 after acquiring an additional 670 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Five9 Price Performance

Shares of NASDAQ:FIVN opened at $30.14 on Friday. Five9, Inc. has a fifty-two week low of $26.60 and a fifty-two week high of $63.79. The business has a 50-day moving average of $37.28 and a two-hundred day moving average of $35.71. The stock has a market capitalization of $2.28 billion, a P/E ratio of -150.69, a P/E/G ratio of 9.41 and a beta of 1.01. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85.

Five9 (NASDAQ:FIVN) last announced its quarterly earnings results on Thursday, February 20th. The software maker reported $0.26 earnings per share 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 analyst estimates of $267.70 million. On average, equities research analysts predict that Five9, Inc. will post 0.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FIVN. William Blair restated an “outperform” rating on shares of Five9 in a report on Thursday, March 13th. Barclays lifted their target price on Five9 from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $58.00 target price on shares of Five9 in a research report on Thursday. Truist Financial reaffirmed a “buy” rating and issued a $65.00 target price on shares of Five9 in a research report on Tuesday, December 17th. Finally, Morgan Stanley raised their target price on Five9 from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 18th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $56.76.

Insider Transactions at Five9

In other news, CAO Leena Mansharamani sold 1,135 shares of Five9 stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $30.20, for a total value of $34,277.00. Following the transaction, the chief accounting officer now directly owns 47,165 shares in the company, valued at approximately $1,424,383. The trade was a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Panos Kozanian sold 7,619 shares of Five9 stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $33.40, for a total value of $254,474.60. Following the completion of the transaction, the executive vice president now owns 126,359 shares in the company, valued at $4,220,390.60. The trade was a 5.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,874 shares of company stock worth $985,446. Company insiders own 1.80% of the company’s stock.

Five9 Company 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.