Comerica Bank Increases Stock Holdings in Five9, Inc. (NASDAQ:FIVN)

Comerica Bank lifted its position in shares of Five9, Inc. (NASDAQ:FIVN - Free Report) by 592.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,835 shares of the software maker's stock after purchasing an additional 34,942 shares during the period. Comerica Bank owned 0.05% of Five9 worth $1,660,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Barclays PLC boosted its position in shares of Five9 by 215.8% during the third quarter. Barclays PLC now owns 242,187 shares of the software maker's stock valued at $6,956,000 after purchasing an additional 165,487 shares in the last quarter. Nordea Investment Management AB lifted its position in Five9 by 2.7% during the 4th quarter. Nordea Investment Management AB now owns 134,750 shares of the software maker's stock valued at $5,550,000 after acquiring an additional 3,549 shares during the period. FNY Investment Advisers LLC increased its position in Five9 by 324.8% during the 4th quarter. FNY Investment Advisers LLC now owns 3,250 shares of the software maker's stock valued at $132,000 after buying an additional 2,485 shares in the last quarter. Mirador Capital Partners LP grew its position in Five9 by 48.9% during the 4th quarter. Mirador Capital Partners LP now owns 27,707 shares of the software maker's stock valued at $1,126,000 after purchasing an additional 9,095 shares during the last quarter. Finally, Ameritas Advisory Services LLC boosted its position in Five9 by 40.5% in the fourth quarter. Ameritas Advisory Services LLC now owns 11,005 shares of the software maker's stock worth $447,000 after purchasing an additional 3,173 shares during the last quarter. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Five9

In other Five9 news, CAO Leena Mansharamani sold 1,135 shares of Five9 stock in a transaction dated 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 sale, the chief accounting officer now owns 47,165 shares in the company, valued at $1,424,383. The trade was a 2.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Panos Kozanian sold 7,619 shares of Five9 stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $33.40, for a total value of $254,474.60. Following the completion of the sale, the executive vice president now owns 126,359 shares of the company's stock, valued at $4,220,390.60. This trade represents a 5.69% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,574 shares of company stock valued at $1,004,346. 1.60% of the stock is owned by corporate insiders.

Five9 Stock Performance

Shares of NASDAQ:FIVN traded up $0.23 during midday trading on Friday, hitting $27.90. The stock had a trading volume of 314,242 shares, compared to its average volume of 1,655,744. The stock has a 50 day moving average price of $26.08 and a two-hundred day moving average price of $34.63. Five9, Inc. has a 1 year low of $21.04 and a 1 year high of $54.18. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $2.13 billion, a PE ratio of -139.48, a P/E/G ratio of 9.41 and a beta of 1.23.

Five9 (NASDAQ:FIVN - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The software maker reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.14. The business had revenue of $279.71 million during the quarter, compared to the consensus estimate of $272.26 million. Five9 had a positive return on equity of 3.62% and a negative net margin of 1.23%. The business's revenue was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.48 EPS. As a group, equities analysts predict that Five9, Inc. will post 0.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FIVN. Wells Fargo & Company decreased their target price on shares of Five9 from $45.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Needham & Company LLC reduced their price objective on shares of Five9 from $52.00 to $40.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Royal Bank of Canada lifted their target price on Five9 from $30.00 to $35.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Piper Sandler increased their price target on Five9 from $46.00 to $53.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Finally, Mizuho cut their price target on shares of Five9 from $55.00 to $42.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $43.58.

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.