Voloridge Investment Management LLC Sells 500,918 Shares of Five9, Inc. (NASDAQ:FIVN)

Voloridge Investment Management LLC decreased its holdings in shares of Five9, Inc. (NASDAQ:FIVN - Free Report) by 96.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,684 shares of the software maker's stock after selling 500,918 shares during the period. Voloridge Investment Management LLC's holdings in Five9 were worth $678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Ameriprise Financial Inc. lifted its position in Five9 by 353.3% during the fourth quarter. Ameriprise Financial Inc. now owns 2,395,566 shares of the software maker's stock valued at $97,356,000 after purchasing an additional 1,867,137 shares in the last quarter. Norges Bank bought a new position in shares of Five9 in the fourth quarter worth about $81,280,000. Wellington Management Group LLP lifted its position 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 valued at $72,496,000 after buying an additional 601,348 shares in the last quarter. Geode Capital Management LLC grew 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 valued at $53,558,000 after acquiring an additional 105,265 shares during the period. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in Five9 in the 4th quarter worth approximately $51,061,000. Institutional investors own 96.64% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FIVN. Mizuho reduced their price objective on shares of Five9 from $55.00 to $42.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Barclays cut their price target on Five9 from $60.00 to $33.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Piper Sandler raised their price target on Five9 from $46.00 to $53.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Wells Fargo & Company dropped their price objective on Five9 from $45.00 to $23.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Finally, Evercore ISI cut their target price on Five9 from $55.00 to $40.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Seven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $43.58.

Five9 Trading Down 2.0%

FIVN traded down $0.55 on Friday, hitting $26.45. The company had a trading volume of 2,176,861 shares, compared to its average volume of 1,696,214. The business's fifty day simple moving average is $25.43 and its 200 day simple moving average is $34.18. 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 12-month low of $21.04 and a 12-month high of $49.90. The company has a market cap of $2.02 billion, a PE ratio of -132.24, a PEG ratio of 9.41 and a beta of 1.23.

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

Insider Transactions at Five9

In other news, COO Andy Dignan sold 2,840 shares of the business's stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 194,201 shares of the company's stock, valued at approximately $6,453,299.23. The trade was a 1.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Leena Mansharamani sold 1,135 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $30.20, for a total transaction 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 disclosure for this sale can be found here. In the last quarter, insiders sold 29,574 shares of company stock worth $1,004,346. 1.60% of the stock is currently 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.