Lumbard & Kellner LLC Makes New $3.02 Million Investment in Five9, Inc. (NASDAQ:FIVN)

Lumbard & Kellner LLC purchased a new stake in Five9, Inc. (NASDAQ:FIVN - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 111,369 shares of the software maker's stock, valued at approximately $3,024,000. Lumbard & Kellner LLC owned approximately 0.15% of Five9 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. PNC Financial Services Group Inc. grew its position in Five9 by 10.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,836 shares of the software maker's stock worth $156,000 after acquiring an additional 365 shares during the period. Arizona State Retirement System grew its position in Five9 by 2.0% in the fourth quarter. Arizona State Retirement System now owns 21,694 shares of the software maker's stock worth $882,000 after acquiring an additional 424 shares during the period. Lindbrook Capital LLC grew its position in Five9 by 155.7% in the fourth quarter. Lindbrook Capital LLC now owns 854 shares of the software maker's stock worth $35,000 after acquiring an additional 520 shares during the period. Xponance Inc. grew its position in Five9 by 6.1% in the fourth quarter. Xponance Inc. now owns 9,421 shares of the software maker's stock worth $383,000 after acquiring an additional 539 shares during the period. Finally, Treasurer of the State of North Carolina grew its position in Five9 by 1.8% in the fourth quarter. Treasurer of the State of North Carolina now owns 32,607 shares of the software maker's stock worth $1,325,000 after acquiring an additional 590 shares during the period. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FIVN has been the topic of a number of research reports. Mizuho decreased their price target on Five9 from $55.00 to $42.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Needham & Company LLC decreased their price target on Five9 from $52.00 to $40.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Piper Sandler upped their price target on Five9 from $46.00 to $53.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Royal Bank Of Canada upped their price target on Five9 from $30.00 to $35.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Finally, KeyCorp initiated coverage on Five9 in a research note on Friday, June 6th. They set an "overweight" rating and a $35.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Five9 currently has an average rating of "Moderate Buy" and an average target price of $43.15.

Insider Activity at Five9

In related news, CEO Michael Burkland sold 5,475 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $28.28, for a total value of $154,833.00. Following the transaction, the chief executive officer now owns 385,987 shares of the company's stock, valued at $10,915,712.36. This represents a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Leena Mansharamani sold 2,938 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $27.83, for a total value of $81,764.54. Following the completion of the transaction, the chief accounting officer now directly owns 44,901 shares in the company, valued at $1,249,594.83. This trade represents a 6.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,866 shares of company stock valued at $913,434 over the last quarter. 1.60% of the stock is owned by insiders.

Five9 Stock Down 1.9%

Shares of Five9 stock traded down $0.51 during trading hours on Friday, reaching $26.85. 1,240,503 shares of the company were exchanged, compared to its average volume of 1,694,647. Five9, Inc. has a 1 year low of $21.04 and a 1 year high of $49.90. The stock's fifty day moving average is $26.15 and its 200 day moving average is $33.04. The company has a debt-to-equity ratio of 1.12, a quick ratio of 2.02 and a current ratio of 2.02. The firm has a market cap of $2.05 billion, a PE ratio of -298.30, a PEG ratio of 2.61 and a beta of 1.20.

Five9 (NASDAQ:FIVN - Get Free Report) last posted its 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 firm had revenue of $279.71 million for the quarter, compared to analyst estimates of $272.26 million. Five9 had a positive return on equity of 6.06% and a negative net margin of 0.48%. Five9's revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.48 earnings per share. As a group, equities research analysts forecast that Five9, Inc. will post 0.28 earnings per share for the current 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.