JPMorgan Chase & Co. reduced its holdings in Five9 Inc (NASDAQ:FIVN) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,003 shares of the software maker’s stock after selling 2,415 shares during the period. JPMorgan Chase & Co. owned about 0.27% of Five9 worth $3,535,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in FIVN. Vanguard Group Inc. raised its stake in shares of Five9 by 25.5% during the 2nd quarter. Vanguard Group Inc. now owns 3,297,927 shares of the software maker’s stock worth $70,972,000 after purchasing an additional 670,939 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Five9 by 6.7% during the 2nd quarter. Renaissance Technologies LLC now owns 2,113,600 shares of the software maker’s stock worth $45,485,000 after purchasing an additional 132,100 shares in the last quarter. Whale Rock Capital Management LLC purchased a new stake in shares of Five9 during the 2nd quarter worth about $21,296,000. FMR LLC raised its stake in shares of Five9 by 19.6% during the 2nd quarter. FMR LLC now owns 956,737 shares of the software maker’s stock worth $20,589,000 after purchasing an additional 156,737 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Five9 by 49.3% during the 2nd quarter. State Street Corp now owns 887,639 shares of the software maker’s stock worth $19,103,000 after purchasing an additional 293,067 shares in the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on the company. Morgan Stanley raised their price target on Five9 from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 9th. Canaccord Genuity reaffirmed a “buy” rating and set a $28.00 price target on shares of Five9 in a research note on Thursday, November 9th. KeyCorp reaffirmed an “overweight” rating and set a $29.00 price target (up from $27.00) on shares of Five9 in a research note on Wednesday, November 8th. Zacks Investment Research raised Five9 from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Monday, November 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price target on shares of Five9 in a research note on Friday, November 10th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Five9 currently has a consensus rating of “Buy” and a consensus target price of $26.43.
Five9 (NASDAQ:FIVN) last issued its quarterly earnings data on Wednesday, November 8th. The software maker reported $0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.05. Five9 had a negative return on equity of 34.14% and a negative net margin of 4.19%. The business had revenue of $50.08 million for the quarter, compared to the consensus estimate of $48.20 million. The firm’s revenue was up 22.2% compared to the same quarter last year. research analysts predict that Five9 Inc will post -0.18 earnings per share for the current fiscal year.
In other Five9 news, CEO Michael Burkland sold 600,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $24.05, for a total value of $14,430,000.00. Following the sale, the chief executive officer now owns 1,194,161 shares of the company’s stock, valued at approximately $28,719,572.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott Welch sold 89,989 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $24.66, for a total value of $2,219,128.74. Following the completion of the sale, the executive vice president now directly owns 169,158 shares in the company, valued at approximately $4,171,436.28. The disclosure for this sale can be found here. Insiders sold a total of 846,877 shares of company stock worth $20,492,200 over the last three months. 9.10% of the stock is owned by company insiders.
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Five9 Inc (Five9) is a provider of cloud software for contact centers. The Company’s purpose-built Virtual Contact Center (VCC) cloud platform delivers a suite of applications that enable the breadth of contact center-related customer service, sales and marketing functions. The Company’s solution, which consists of its VCC cloud platform and applications, allows simultaneous management and optimization of customer interactions across voice, chat, e-mail, Web, social media and mobile channels, either directly or through its application programming interfaces (APIs).
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