Stanley Laman Group Ltd. Reduces Stock Position in Five9, Inc. (NASDAQ:FIVN)

Stanley Laman Group Ltd. lowered its position in shares of Five9, Inc. (NASDAQ:FIVN) by 18.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 63,863 shares of the software maker’s stock after selling 14,057 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Five9 were worth $2,595,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its holdings in Five9 by 2.4% in the 3rd quarter. FMR LLC now owns 11,159,760 shares of the software maker’s stock worth $320,620,000 after purchasing an additional 259,820 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Five9 by 14.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,667,922 shares of the software maker’s stock worth $47,919,000 after acquiring an additional 210,836 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Five9 by 14.9% in the 3rd quarter. Fisher Asset Management LLC now owns 761,966 shares of the software maker’s stock worth $21,891,000 after acquiring an additional 98,543 shares in the last quarter. Potrero Capital Research LLC bought a new position in shares of Five9 in the 3rd quarter worth about $15,610,000. Finally, WCM Investment Management LLC increased its stake in shares of Five9 by 35.9% in the 4th quarter. WCM Investment Management LLC now owns 522,611 shares of the software maker’s stock worth $21,281,000 after acquiring an additional 138,019 shares in the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Analysts Set New Price Targets

FIVN has been the subject of a number of analyst reports. DA Davidson raised their price objective on shares of Five9 from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Cantor Fitzgerald began coverage on shares of Five9 in a research note on Friday, January 17th. They set an “overweight” rating and a $46.00 price objective for the company. Morgan Stanley raised their price target on shares of Five9 from $40.00 to $46.00 and gave the company an “equal weight” rating in a report on Wednesday, December 18th. Truist Financial reaffirmed a “buy” rating and set a $65.00 price target on shares of Five9 in a report on Tuesday, December 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price target on shares of Five9 in a report on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $57.50.

Five9 Price Performance

NASDAQ FIVN opened at $41.20 on Thursday. 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 stock has a 50-day moving average of $40.73 and a two-hundred day moving average of $35.91. Five9, Inc. has a 1-year low of $26.60 and a 1-year high of $77.21.

Insider Activity at Five9

In related news, CAO Leena Mansharamani sold 1,346 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $41.33, for a total transaction of $55,630.18. Following the sale, the chief accounting officer now owns 35,526 shares of the company’s stock, valued at $1,468,289.58. This trade represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Burkland sold 12,594 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $41.40, for a total value of $521,391.60. Following the transaction, the chief executive officer now owns 240,894 shares in the company, valued at $9,973,011.60. This trade represents a 4.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,004 shares of company stock valued at $1,209,279 over the last three months. 1.80% of the stock is owned by corporate insiders.

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.