GAMMA Investing LLC Purchases 11,468 Shares of Five9, Inc. (NASDAQ:FIVN)

GAMMA Investing LLC grew its stake in shares of Five9, Inc. (NASDAQ:FIVN - Free Report) by 3,107.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,837 shares of the software maker's stock after purchasing an additional 11,468 shares during the period. GAMMA Investing LLC's holdings in Five9 were worth $321,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new stake in Five9 during the 4th quarter valued at approximately $81,280,000. Ameriprise Financial Inc. boosted its position in shares of 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. Sylebra Capital LLC grew its stake in Five9 by 59.4% in the fourth quarter. Sylebra Capital LLC now owns 3,745,778 shares of the software maker's stock worth $152,228,000 after purchasing an additional 1,396,496 shares during the period. Fuller & Thaler Asset Management Inc. bought a new position in Five9 in the fourth quarter worth $51,061,000. Finally, Wellington Management Group LLP raised its holdings in Five9 by 50.9% in the fourth quarter. Wellington Management Group LLP now owns 1,783,870 shares of the software maker's stock worth $72,496,000 after purchasing an additional 601,348 shares in the last quarter. Hedge funds and other institutional investors own 96.64% of the company's stock.

Five9 Stock Performance

Shares of FIVN traded down $0.30 during trading hours on Monday, hitting $26.55. The stock had a trading volume of 1,541,386 shares, compared to its average volume of 1,693,005. The firm has a market capitalization of $2.02 billion, a PE ratio of -294.97, a PEG ratio of 2.56 and a beta of 1.20. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.02 and a quick ratio of 2.02. Five9, Inc. has a 12 month low of $21.04 and a 12 month high of $49.90. The stock has a fifty day moving average price of $26.22 and a 200 day moving average price of $32.81.

Five9 (NASDAQ:FIVN - Get Free Report) last announced its 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 for the quarter, compared to analysts' expectations of $272.26 million. Five9 had a positive return on equity of 6.06% and a negative net margin of 0.48%. The business's revenue for the quarter was up 13.2% on a year-over-year basis. During the same period last year, the firm posted $0.48 earnings per share. Analysts anticipate that Five9, Inc. will post 0.28 EPS for the current year.

Insider Activity at Five9

In other news, CEO Michael Burkland sold 12,594 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $27.17, for a total transaction of $342,178.98. Following the completion of the sale, the chief executive officer now owns 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Panos Kozanian sold 3,816 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $28.28, for a total value of $107,916.48. Following the completion of the transaction, the executive vice president now directly owns 123,218 shares in the company, valued at approximately $3,484,605.04. This represents a 3.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,866 shares of company stock worth $913,434. 1.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FIVN shares. Mizuho reduced their target price on shares of Five9 from $55.00 to $42.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Wells Fargo & Company decreased their target price on shares of Five9 from $45.00 to $23.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Rosenblatt Securities reissued a "buy" rating and issued a $36.00 price target on shares of Five9 in a research report on Tuesday, May 13th. Cantor Fitzgerald restated an "overweight" rating on shares of Five9 in a research note on Wednesday, April 2nd. Finally, Barclays lowered their price objective on Five9 from $60.00 to $33.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $43.15.

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.