Five9, Inc. (NASDAQ:FIVN) Position Increased by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co grew its stake in shares of Five9, Inc. (NASDAQ:FIVN) by 6.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 99,006 shares of the software maker’s stock after acquiring an additional 6,431 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.13% of Five9 worth $6,147,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Five9 by 2.1% in the first quarter. Vanguard Group Inc. now owns 7,437,575 shares of the software maker’s stock worth $461,948,000 after buying an additional 150,786 shares during the period. Wasatch Advisors LP grew its holdings in shares of Five9 by 1.9% during the first quarter. Wasatch Advisors LP now owns 3,459,581 shares of the software maker’s stock valued at $214,875,000 after buying an additional 63,200 shares in the last quarter. Eagle Asset Management Inc. lifted its stake in Five9 by 0.8% in the 4th quarter. Eagle Asset Management Inc. now owns 1,035,554 shares of the software maker’s stock worth $81,488,000 after acquiring an additional 8,231 shares in the last quarter. Norges Bank acquired a new stake in Five9 during the 4th quarter worth about $79,035,000. Finally, UBS Group AG grew its stake in Five9 by 47.7% during the 4th quarter. UBS Group AG now owns 788,381 shares of the software maker’s stock valued at $62,038,000 after acquiring an additional 254,467 shares in the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

Insider Buying and Selling at Five9

In other news, CFO Barry Zwarenstein sold 6,207 shares of Five9 stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $45.01, for a total transaction of $279,377.07. Following the sale, the chief financial officer now owns 85,121 shares of the company’s stock, valued at approximately $3,831,296.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Leena Mansharamani sold 1,542 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $46.27, for a total value of $71,348.34. Following the sale, the chief accounting officer now owns 38,267 shares of the company’s stock, valued at $1,770,614.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Barry Zwarenstein sold 6,207 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $45.01, for a total transaction of $279,377.07. Following the completion of the transaction, the chief financial officer now directly owns 85,121 shares of the company’s stock, valued at approximately $3,831,296.21. The disclosure for this sale can be found here. Insiders sold a total of 50,748 shares of company stock valued at $2,303,914 in the last quarter. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. UBS Group reduced their price target on shares of Five9 from $90.00 to $81.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Morgan Stanley lowered their price target on shares of Five9 from $70.00 to $50.00 and set an “equal weight” rating on the stock in a report on Friday, June 14th. Piper Sandler cut their price objective on Five9 from $86.00 to $58.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Rosenblatt Securities reissued a “buy” rating and issued a $80.00 price target on shares of Five9 in a research note on Friday, May 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $90.00 target price on shares of Five9 in a research report on Thursday, June 6th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $79.29.

Five9 Stock Performance

Shares of NASDAQ:FIVN opened at $46.76 on Friday. The company has a debt-to-equity ratio of 2.41, a quick ratio of 7.02 and a current ratio of 7.02. The business has a 50 day moving average price of $44.35 and a 200 day moving average price of $57.74. Five9, Inc. has a twelve month low of $39.07 and a twelve month high of $92.40.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings results on Thursday, May 2nd. The software maker reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.13. The company had revenue of $247.01 million for the quarter, compared to analyst estimates of $239.72 million. Five9 had a negative net margin of 6.56% and a negative return on equity of 9.09%. As a group, equities analysts predict that Five9, Inc. will post -0.3 EPS for the current fiscal year.

About Five9

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States 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.