Five9, Inc. $FIVN Stock: Van Berkom & Associates Inc. Trims Position

Key Points

• Van Berkom & Associates cut its Five9 stake by 35.6% in the third quarter, selling about 1.11 million shares; it retained roughly 2.00 million shares, worth $68.1 million. Institutional investors collectively own 96.64% of the company.
• Five9 beat quarterly estimates, reporting adjusted EPS of $0.82 versus $0.80 expected and revenue of $323.3 million versus $319.0 million expected; revenue grew 13.1% year over year.
• Analysts give Five9 a consensus “Moderate Buy” rating and an average price target of $33.94. Recent insider share sales were made under pre-arranged plans to cover tax withholding on vested equity awards.

Van Berkom & Associates Inc. reduced its stake in Five9, Inc. (NASDAQ:FIVN - Free Report) by 35.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,002,547 shares of the software maker's stock after selling 1,107,553 shares during the quarter. Five9 accounts for 2.4% of Van Berkom & Associates Inc.'s investment portfolio, making the stock its 15th largest position. Van Berkom & Associates Inc. owned 2.62% of Five9 worth $68,107,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of FIVN. NewEdge Advisors LLC lifted its stake in Five9 by 14.5% during the 2nd quarter. NewEdge Advisors LLC now owns 2,894 shares of the software maker's stock worth $62,000 after acquiring an additional 366 shares in the last quarter. Richardson Financial Services Inc. grew its position in Five9 by 30.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 1,746 shares of the software maker's stock valued at $59,000 after acquiring an additional 407 shares in the last quarter. GAMMA Investing LLC grew its position in Five9 by 42.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,477 shares of the software maker's stock valued at $50,000 after acquiring an additional 442 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Five9 by 14.2% during the third quarter. Farther Finance Advisors LLC now owns 4,019 shares of the software maker's stock worth $137,000 after purchasing an additional 501 shares during the period. Finally, Choreo LLC increased its stake in Five9 by 2.4% during the third quarter. Choreo LLC now owns 22,659 shares of the software maker's stock worth $771,000 after purchasing an additional 521 shares during the period. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Tiffany N. Meriweather sold 13,409 shares of the business's stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $33.31, for a total transaction of $446,653.79. Following the completion of the sale, the insider owned 258,363 shares in the company, valued at approximately $8,606,071.53. The trade was a 4.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Leena Mansharamani sold 2,706 shares of the company's stock in a transaction on Friday, September 4th. The shares were sold at an average price of $33.35, for a total transaction of $90,245.10. Following the completion of the transaction, the chief accounting officer owned 53,670 shares of the company's stock, valued at approximately $1,789,894.50. The trade was a 4.80% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 83,831 shares of company stock valued at $2,821,366. 1.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on FIVN. Wall Street Zen cut shares of Five9 from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 8th. Piper Sandler lifted their price objective on shares of Five9 from $24.00 to $30.00 and gave the company a "neutral" rating in a report on Friday, August 7th. FBN Securities began coverage on shares of Five9 in a research note on Wednesday, September 16th. They set an "outperform" rating and a $40.00 target price on the stock. Evercore downgraded shares of Five9 from an "outperform" rating to an "in-line" rating and set a $24.00 target price on the stock. in a research note on Friday. Finally, Truist Financial reduced their target price on shares of Five9 from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Friday. Twelve analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $33.94.

Five9 Stock Up 2.7%

Shares of NASDAQ:FIVN opened at $28.87 on Tuesday. The firm's 50 day moving average price is $34.44 and its 200 day moving average price is $24.55. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 25.78 and a beta of 1.56. Five9, Inc. has a fifty-two week low of $13.29 and a fifty-two week high of $40.00. The company has a quick ratio of 4.15, a current ratio of 4.15 and a debt-to-equity ratio of 0.94.

Five9 (NASDAQ:FIVN - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The software maker reported $0.82 EPS for the quarter, topping the consensus estimate of $0.80 by $0.02. Five9 had a net margin of 4.94% and a return on equity of 12.92%. The company had revenue of $323.30 million during the quarter, compared to analysts' expectations of $319.04 million. During the same quarter in the previous year, the business posted $0.78 EPS. The firm's revenue was up 13.1% on a year-over-year basis. As a group, equities research analysts predict that Five9, Inc. will post 1.55 earnings per share for the current fiscal year.

Five9 Profile

Five9 provides cloud-based contact center software that helps businesses manage customer service and sales interactions. Its platform supports communications across channels such as phone, email, chat and messaging, and includes tools for routing, reporting and managing customer interactions.

The company also offers artificial intelligence capabilities, including virtual agents and agent-assistance tools, along with workforce engagement and analytics products. These services are designed to help organizations automate routine interactions and support human agents.

Founded in 2001, Five9 serves businesses in the United States and internationally.

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