Norges Bank Acquires New Stake in Five9, Inc. (NASDAQ:FIVN)

Norges Bank bought a new position in Five9, Inc. (NASDAQ:FIVN) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,000,000 shares of the software maker’s stock, valued at approximately $81,280,000. Norges Bank owned approximately 2.66% of Five9 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Lindbrook Capital LLC boosted its stake in Five9 by 155.7% in the 4th quarter. Lindbrook Capital LLC now owns 854 shares of the software maker’s stock worth $35,000 after purchasing an additional 520 shares in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of Five9 by 7,305.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,333 shares of the software maker’s stock valued at $54,000 after buying an additional 1,315 shares during the last quarter. Venturi Wealth Management LLC increased its position in shares of Five9 by 3,955.4% during the fourth quarter. Venturi Wealth Management LLC now owns 2,636 shares of the software maker’s stock valued at $107,000 after acquiring an additional 2,571 shares in the last quarter. FNY Investment Advisers LLC raised its holdings in Five9 by 324.8% in the 4th quarter. FNY Investment Advisers LLC now owns 3,250 shares of the software maker’s stock worth $132,000 after acquiring an additional 2,485 shares during the last quarter. Finally, KBC Group NV lifted its position in Five9 by 49.2% in the 4th quarter. KBC Group NV now owns 3,373 shares of the software maker’s stock valued at $137,000 after acquiring an additional 1,113 shares in the last quarter. 96.64% of the stock is owned by hedge funds and other institutional investors.

Five9 Stock Up 1.4 %

FIVN stock opened at $27.46 on Thursday. The business’s 50-day moving average price is $35.81 and its 200-day moving average price is $35.77. The stock has a market cap of $2.08 billion, a P/E ratio of -137.29, a PEG ratio of 9.41 and a beta of 1.29. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32. Five9, Inc. has a twelve month low of $26.34 and a twelve month high of $63.30.

Five9 (NASDAQ:FIVN) last issued its quarterly 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 firm had revenue of $278.66 million for the quarter, compared to analysts’ expectations of $267.70 million. Five9 had a negative net margin of 1.23% and a positive return on equity of 3.62%. On average, equities research analysts forecast that Five9, Inc. will post 0.28 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on FIVN. Truist Financial reissued a “buy” rating and issued a $65.00 target price on shares of Five9 in a report on Tuesday, December 17th. Barclays boosted their target price on Five9 from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Piper Sandler lifted their price target on shares of Five9 from $46.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Rosenblatt Securities reissued a “buy” rating and set a $58.00 price objective on shares of Five9 in a report on Thursday, March 20th. Finally, William Blair reaffirmed an “outperform” rating on shares of Five9 in a research report on Thursday, March 13th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.76.

Insiders Place Their Bets

In other Five9 news, CAO Leena Mansharamani sold 1,135 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $30.20, for a total value of $34,277.00. Following the completion of the transaction, the chief accounting officer now directly owns 47,165 shares in the company, valued at $1,424,383. This represents a 2.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Andy Dignan sold 2,840 shares of Five9 stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $33.23, for a total transaction of $94,373.20. Following the sale, the chief operating officer now owns 194,201 shares in the company, valued at approximately $6,453,299.23. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,874 shares of company stock worth $985,446. Corporate 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.