Pictet Asset Management Holding SA Reduces Holdings in Five9, Inc. (NASDAQ:FIVN)

Pictet Asset Management Holding SA trimmed its holdings in shares of Five9, Inc. (NASDAQ:FIVN) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,583,265 shares of the software maker’s stock after selling 198,126 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.09% of Five9 worth $267,544,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FIVN. PNC Financial Services Group Inc. raised its stake in Five9 by 10.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,836 shares of the software maker’s stock valued at $156,000 after purchasing an additional 365 shares during the period. Arizona State Retirement System grew its holdings in Five9 by 2.0% during the 4th quarter. Arizona State Retirement System now owns 21,694 shares of the software maker’s stock valued at $882,000 after buying an additional 424 shares in the last quarter. Lindbrook Capital LLC raised its position in shares of Five9 by 155.7% during the fourth quarter. Lindbrook Capital LLC now owns 854 shares of the software maker’s stock valued at $35,000 after buying an additional 520 shares during the last quarter. Xponance Inc. boosted its position in shares of Five9 by 6.1% during the fourth 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 stake in Five9 by 3.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,739 shares of the software maker’s stock valued at $802,000 after acquiring an additional 670 shares in the last quarter. 96.64% of the stock is owned by hedge funds and other institutional investors.

Five9 Price Performance

Shares of FIVN stock opened at $29.32 on Friday. The stock has a 50 day moving average price of $36.71 and a 200 day moving average price of $35.72. Five9, Inc. has a 52-week low of $26.60 and a 52-week high of $63.39. 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 firm has a market capitalization of $2.22 billion, a P/E ratio of -146.59, a P/E/G ratio of 9.41 and a beta of 1.01.

Five9 (NASDAQ:FIVN) last released its earnings results on Thursday, February 20th. The software maker reported $0.26 earnings per share for the quarter, missing the consensus estimate 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 positive return on equity of 3.62% and a negative net margin of 1.23%. As a group, sell-side analysts predict that Five9, Inc. will post 0.28 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have commented on FIVN shares. Morgan Stanley boosted their price target on shares of Five9 from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 18th. Cantor Fitzgerald increased their price target on Five9 from $46.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Barclays raised their price target on Five9 from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Rosenblatt Securities reaffirmed a “buy” rating and set a $58.00 price objective on shares of Five9 in a report on Thursday, March 20th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $52.00 target price on shares of Five9 in a report on Monday, March 17th. Six 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, the company presently has an average rating of “Moderate Buy” and an average target price of $56.76.

Insider Buying and Selling at Five9

In other news, CEO Michael Burkland sold 12,595 shares of Five9 stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $35.63, for a total transaction of $448,759.85. Following the completion of the sale, the chief executive officer now owns 404,056 shares of the company’s stock, valued at approximately $14,396,515.28. The trade was a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Barry Zwarenstein sold 2,468 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $33.23, for a total value of $82,011.64. Following the completion of the sale, the chief financial officer now owns 92,583 shares of the company’s stock, valued at $3,076,533.09. The trade was a 2.60 % 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. 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.