Artisan Partners Limited Partnership Sells 18,668 Shares of Five9, Inc. (NASDAQ:FIVN)

Artisan Partners Limited Partnership cut its stake in Five9, Inc. (NASDAQ:FIVN) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 730,953 shares of the software maker’s stock after selling 18,668 shares during the quarter. Artisan Partners Limited Partnership owned 0.97% of Five9 worth $29,706,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Quest Partners LLC bought a new position in Five9 during the third quarter worth about $95,000. Intech Investment Management LLC acquired a new stake in shares of Five9 during the third quarter worth about $281,000. FMR LLC lifted its holdings in shares of Five9 by 2.4% during the 3rd quarter. FMR LLC now owns 11,159,760 shares of the software maker’s stock valued at $320,620,000 after purchasing an additional 259,820 shares in the last quarter. Blueshift Asset Management LLC increased its stake in Five9 by 47.4% during the 3rd quarter. Blueshift Asset Management LLC now owns 15,479 shares of the software maker’s stock worth $445,000 after purchasing an additional 4,979 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Five9 by 13.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,069 shares of the software maker’s stock worth $548,000 after buying an additional 2,254 shares during the period. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Five9

In related news, CAO Leena Mansharamani sold 1,135 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 47,165 shares of the company’s stock, valued at approximately $1,424,383. This represents a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Panos Kozanian sold 7,619 shares of Five9 stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 126,359 shares in the company, valued at approximately $4,220,390.60. The trade was a 5.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,874 shares of company stock valued at $985,446 in the last three months. 1.80% of the stock is currently owned by corporate insiders.

Five9 Price Performance

Shares of Five9 stock opened at $27.75 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.85 and a current ratio of 1.85. The company has a fifty day moving average of $36.51 and a 200-day moving average of $35.72. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of -138.74, a price-to-earnings-growth ratio of 9.41 and a beta of 1.01. Five9, Inc. has a 52-week low of $26.60 and a 52-week high of $63.30.

Five9 (NASDAQ:FIVN) last released its quarterly earnings results on Thursday, February 20th. The software maker reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.44). The business had revenue of $278.66 million for the quarter, compared to the consensus estimate of $267.70 million. Five9 had a negative net margin of 1.23% and a positive return on equity of 3.62%. Equities research analysts expect that Five9, Inc. will post 0.28 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FIVN. Cantor Fitzgerald upped their price target on shares of Five9 from $46.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $65.00 target price on shares of Five9 in a research note on Wednesday, March 19th. Morgan Stanley boosted their price target on Five9 from $40.00 to $46.00 and gave the company an “equal weight” rating in a report on Wednesday, December 18th. Barclays lifted their target price on Five9 from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Finally, Piper Sandler upped their price target on Five9 from $46.00 to $53.00 and gave the stock an “overweight” rating in a research report 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.76.

About Five9

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.