Harvey Capital Management Inc. Increases Stock Position in Five9, Inc. (NASDAQ:FIVN)

Harvey Capital Management Inc. raised its holdings in shares of Five9, Inc. (NASDAQ:FIVN - Free Report) by 17.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,030 shares of the software maker's stock after acquiring an additional 8,620 shares during the quarter. Harvey Capital Management Inc. owned approximately 0.07% of Five9 worth $1,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Sylebra Capital LLC boosted its stake in shares of Five9 by 59.4% during the 4th quarter. Sylebra Capital LLC now owns 3,745,778 shares of the software maker's stock worth $152,228,000 after acquiring an additional 1,396,496 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Five9 by 353.3% during the 4th quarter. Ameriprise Financial Inc. now owns 2,395,566 shares of the software maker's stock worth $97,356,000 after acquiring an additional 1,867,137 shares during the last quarter. Norges Bank purchased a new position in shares of Five9 during the 4th quarter worth $81,280,000. Wellington Management Group LLP boosted its stake in shares of Five9 by 50.9% during the 4th quarter. Wellington Management Group LLP now owns 1,783,870 shares of the software maker's stock worth $72,496,000 after acquiring an additional 601,348 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Five9 by 8.7% during the 4th quarter. Geode Capital Management LLC now owns 1,317,450 shares of the software maker's stock worth $53,558,000 after acquiring an additional 105,265 shares during the last quarter. Hedge funds and other institutional investors own 96.64% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FIVN. Rosenblatt Securities reiterated a "buy" rating and set a $36.00 price target on shares of Five9 in a research note on Tuesday, May 13th. Jefferies Financial Group lowered their target price on shares of Five9 from $45.00 to $28.00 and set a "hold" rating on the stock in a research note on Monday, April 28th. Wells Fargo & Company lowered 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 note on Tuesday, April 22nd. Barclays lowered their target price on shares of Five9 from $60.00 to $33.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Finally, UBS Group lowered their target price on shares of Five9 from $55.00 to $35.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Five9 has an average rating of "Moderate Buy" and an average target price of $43.15.

Five9 Price Performance

Shares of Five9 stock traded down $1.26 during trading hours on Friday, reaching $26.60. The company's stock had a trading volume of 1,814,218 shares, compared to its average volume of 1,780,631. The firm has a 50 day moving average price of $27.28 and a 200-day moving average price of $31.30. Five9, Inc. has a one year low of $21.04 and a one year high of $49.90. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.02 and a quick ratio of 2.02. The stock has a market cap of $2.03 billion, a P/E ratio of -295.52, a P/E/G ratio of 2.54 and a beta of 1.19.

Five9 (NASDAQ:FIVN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The software maker reported $0.62 EPS for the quarter, beating the consensus estimate of $0.48 by $0.14. The company had revenue of $279.71 million for the quarter, compared to the consensus estimate of $272.26 million. Five9 had a negative net margin of 0.48% and a positive return on equity of 6.06%. The firm's revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 EPS. On average, analysts predict that Five9, Inc. will post 0.28 EPS for the current year.

Insider Activity at Five9

In other Five9 news, CEO Michael Burkland sold 12,594 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $27.17, for a total value of $342,178.98. Following the completion of the sale, the chief executive officer directly owned 391,462 shares of the company's stock, valued at $10,636,022.54. The trade was a 3.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Bryan M. Lee sold 1,798 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $28.28, for a total transaction of $50,847.44. Following the completion of the sale, the chief financial officer directly owned 126,468 shares of the company's stock, valued at approximately $3,576,515.04. This trade represents a 1.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,866 shares of company stock worth $913,042 in the last three months. 1.60% of the stock is owned by insiders.

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.