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

Artisan Partners Limited Partnership lowered its stake in shares of Five9, Inc. (NASDAQ:FIVN) by 2.5% during the 4th quarter, according to the company in its most recent filing with the 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’s holdings in Five9 were worth $29,706,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its position in Five9 by 10.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,836 shares of the software maker’s stock valued at $156,000 after acquiring an additional 365 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Five9 by 2.0% during the 4th quarter. Arizona State Retirement System now owns 21,694 shares of the software maker’s stock worth $882,000 after purchasing an additional 424 shares during the period. Lindbrook Capital LLC grew its holdings in Five9 by 155.7% during the 4th quarter. Lindbrook Capital LLC now owns 854 shares of the software maker’s stock valued at $35,000 after purchasing an additional 520 shares during the last quarter. Xponance Inc. raised its position in 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 purchasing an additional 539 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Five9 by 3.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,739 shares of the software maker’s stock worth $802,000 after purchasing an additional 670 shares during the last quarter. Institutional investors own 96.64% of the company’s stock.

Five9 Trading Down 5.4 %

FIVN stock opened at $27.75 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.32. Five9, Inc. has a 12-month low of $26.60 and a 12-month high of $63.30. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of -138.74, a PEG ratio of 9.41 and a beta of 1.01. The business’s 50-day moving average is $36.51 and its 200 day moving average is $35.72.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings results on Thursday, February 20th. The software maker reported $0.26 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $267.70 million. On average, sell-side analysts anticipate that Five9, Inc. will post 0.28 EPS for the current fiscal year.

Insider Buying and Selling

In other Five9 news, CAO Leena Mansharamani sold 1,135 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were 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 of the company’s stock, valued at approximately $1,424,383. The trade was a 2.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Burkland sold 12,595 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $35.63, for a total value of $448,759.85. Following the transaction, the chief executive officer now directly owns 404,056 shares of the company’s stock, valued at approximately $14,396,515.28. This trade represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,874 shares of company stock valued at $985,446 in the last three months. 1.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FIVN. William Blair reiterated an “outperform” rating on shares of Five9 in a report on Thursday, March 13th. Piper Sandler increased their price objective on Five9 from $46.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Truist Financial reissued a “buy” rating and set a $65.00 price target on shares of Five9 in a research report on Tuesday, December 17th. Barclays lifted their price objective on Five9 from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, Needham & Company LLC restated a “buy” rating and issued a $52.00 price target on shares of Five9 in a report on Monday, March 17th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Five9 presently has a consensus rating of “Moderate Buy” and an average target price of $56.76.

Five9 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.