King Luther Capital Management Corp Sells 32,500 Shares of Five9, Inc. (NASDAQ:FIVN)

Key Points

• King Luther Capital Management Corp reduced its stake in Five9, Inc. by 37.4% during the first quarter, selling 32,500 shares, and now holds about $1.48 million worth of the stock.
• Several institutional investors increased their positions in Five9, with PNC Financial Services Group Inc. raising its stake by 74.7%, now owning shares valued at $182,000.
• Five9 recently reported earnings, exceeding expectations with $0.76 earnings per share compared to the anticipated $0.65, and a revenue of $283.27 million, marking a 12.4% increase year-over-year.

King Luther Capital Management Corp trimmed its holdings in shares of Five9, Inc. (NASDAQ:FIVN - Free Report) by 37.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,486 shares of the software maker's stock after selling 32,500 shares during the period. King Luther Capital Management Corp owned 0.07% of Five9 worth $1,479,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of FIVN. Ameriprise Financial Inc. grew its holdings 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 during the last quarter. Sylebra Capital LLC increased its stake in shares of Five9 by 59.4% in the 4th quarter. Sylebra Capital LLC now owns 3,745,778 shares of the software maker's stock valued at $152,228,000 after acquiring an additional 1,396,496 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Five9 in the 4th quarter valued at approximately $51,061,000. Wellington Management Group LLP grew its position in shares of Five9 by 50.9% in 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 purchasing an additional 601,348 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Five9 during the 1st quarter worth approximately $15,777,000. 96.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on FIVN shares. Rosenblatt Securities reissued a "buy" rating and set a $36.00 target price on shares of Five9 in a report on Friday, August 1st. UBS Group cut their price target on Five9 from $55.00 to $35.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Wells Fargo & Company lowered their target price on Five9 from $45.00 to $23.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Barclays decreased their price objective on Five9 from $60.00 to $33.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Finally, KeyCorp assumed coverage on shares of Five9 in a research report on Friday, June 6th. They issued an "overweight" rating and a $35.00 price target for the company. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Five9 currently has a consensus rating of "Moderate Buy" and an average target price of $37.59.

Insider Transactions at Five9

In other Five9 news, CAO Leena Mansharamani sold 2,938 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $27.83, for a total transaction of $81,764.54. Following the transaction, the chief accounting officer owned 44,901 shares in the company, valued at approximately $1,249,594.83. The trade was a 6.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Panos Kozanian sold 7,043 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $25.81, for a total value of $181,779.83. Following the completion of the transaction, the executive vice president owned 116,175 shares of the company's stock, valued at $2,998,476.75. This trade represents a 5.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,609 shares of company stock valued at $1,113,133. 1.60% of the stock is currently owned by company insiders.

Five9 Trading Up 3.6%

Shares of Five9 stock traded up $0.90 during midday trading on Friday, reaching $26.04. 2,599,015 shares of the company's stock traded hands, compared to its average volume of 2,291,987. The company has a market cap of $2.01 billion, a PE ratio of 289.37, a price-to-earnings-growth ratio of 2.37 and a beta of 1.17. The stock has a 50 day moving average of $26.96 and a 200-day moving average of $29.12. Five9, Inc. has a 12 month low of $21.04 and a 12 month high of $49.90. The company has a debt-to-equity ratio of 1.04, a quick ratio of 4.44 and a current ratio of 4.44.

Five9 (NASDAQ:FIVN - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The software maker reported $0.76 earnings per share (EPS) for the quarter, topping 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 8.91% and a net margin of 0.80%. The company's revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS. As a group, equities analysts expect that Five9, Inc. will post 0.28 EPS for the current fiscal year.

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.