Envestnet Asset Management Inc. Has $1.32 Million Stake in Five9, Inc. (NASDAQ:FIVN)

Key Points

• Envestnet Asset Management Inc. increased its holdings in Five9, Inc. by 55.2% in Q1, owning 48,543 shares valued at approximately $1.32 million.
• Several analysts have adjusted their target prices for Five9, with a consensus rating of "Moderate Buy" and an average target price of $42.05, despite recent price reductions from various institutions.
• Five9 reported earnings of $0.76 per share for the latest quarter, exceeding estimates, along with a year-over-year revenue growth of 12.4%.

Envestnet Asset Management Inc. increased its holdings in shares of Five9, Inc. (NASDAQ:FIVN - Free Report) by 55.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 48,543 shares of the software maker's stock after purchasing an additional 17,264 shares during the period. Envestnet Asset Management Inc. owned approximately 0.06% of Five9 worth $1,318,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Quantinno Capital Management LP acquired a new position in shares of Five9 during the 4th quarter worth about $287,000. Royal Bank of Canada raised its holdings in Five9 by 6.0% in the 4th quarter. Royal Bank of Canada now owns 369,001 shares of the software maker's stock valued at $14,997,000 after acquiring an additional 20,775 shares in the last quarter. Man Group plc acquired a new position in Five9 in the 4th quarter valued at approximately $354,000. Geode Capital Management LLC raised its holdings in Five9 by 8.7% in the 4th quarter. Geode Capital Management LLC now owns 1,317,450 shares of the software maker's stock valued at $53,558,000 after acquiring an additional 105,265 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in Five9 by 60.1% in the 4th quarter. Cetera Investment Advisers now owns 13,407 shares of the software maker's stock valued at $545,000 after acquiring an additional 5,032 shares in the last quarter. Institutional investors and hedge funds own 96.64% of the company's stock.

Five9 Trading Down 6.0%

Five9 stock traded down $1.55 during mid-day trading on Friday, hitting $24.28. 6,300,693 shares of the company's stock were exchanged, compared to its average volume of 1,734,645. The firm has a market capitalization of $1.85 billion, a P/E ratio of 269.81, a PEG ratio of 2.46 and a beta of 1.17. Five9, Inc. has a fifty-two week low of $21.04 and a fifty-two week high of $49.90. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 1.12. The company's 50 day simple moving average is $27.42 and its 200-day simple moving average is $30.05.

Five9 (NASDAQ:FIVN - Get Free Report) last released its earnings results on Thursday, July 31st. The software maker reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.11. The business had revenue of $283.27 million for the quarter, compared to the consensus estimate of $275.18 million. Five9 had a return on equity of 9.27% and a net margin of 0.80%. Five9's quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 earnings per share. On average, equities analysts anticipate that Five9, Inc. will post 0.28 earnings per share for the current year.

Insider Buying and Selling at Five9

In other news, President Andy Dignan sold 4,845 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $28.18, for a total transaction of $136,532.10. Following the completion of the sale, the president owned 227,839 shares in the company, valued at $6,420,503.02. The trade was a 2.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael Burkland sold 12,594 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $27.17, for a total value of $342,178.98. Following the sale, the chief executive officer owned 391,462 shares of the company's stock, valued at approximately $10,636,022.54. This represents a 3.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,866 shares of company stock valued at $913,042 in the last three months. Corporate insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on FIVN. KeyCorp began coverage on Five9 in a report on Friday, June 6th. They issued an "overweight" rating and a $35.00 price target for the company. Rosenblatt Securities reaffirmed a "buy" rating and issued a $36.00 price target on shares of Five9 in a report on Friday. Evercore ISI cut their price target on Five9 from $55.00 to $40.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. UBS Group dropped their target price on Five9 from $55.00 to $35.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Needham & Company LLC decreased their price target on Five9 from $52.00 to $40.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Six equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $41.14.

About Five9

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.