Five9, Inc. (NASDAQ:FIVN) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its holdings in Five9, Inc. (NASDAQ:FIVN - Free Report) by 50.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 366,719 shares of the software maker's stock after selling 368,813 shares during the period. Massachusetts Financial Services Co. MA owned about 0.48% of Five9 worth $9,956,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of FIVN. Banque Transatlantique SA acquired a new position in shares of Five9 in the fourth quarter worth $36,000. Johnson Financial Group Inc. acquired a new position in shares of Five9 during the fourth quarter worth $47,000. Conquis Financial LLC acquired a new position in shares of Five9 during the fourth quarter worth $122,000. PNC Financial Services Group Inc. grew its stake in shares of Five9 by 10.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,836 shares of the software maker's stock worth $156,000 after purchasing an additional 365 shares in the last quarter. Finally, State of Wyoming grew its stake in shares of Five9 by 41.6% during the fourth quarter. State of Wyoming now owns 4,717 shares of the software maker's stock worth $192,000 after purchasing an additional 1,386 shares in the last quarter. Institutional investors and hedge funds own 96.64% of the company's stock.

Insider Activity at Five9

In other news, CAO Leena Mansharamani sold 2,938 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer directly owned 44,901 shares in the company, valued at $1,249,594.83. This represents a 6.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bryan M. Lee sold 1,798 shares of the stock in a transaction that occurred on 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 owned 126,468 shares in the company, valued at $3,576,515.04. This 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 valued at $913,042 in the last ninety days. Company insiders own 1.60% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on FIVN shares. Jefferies Financial Group lowered their target price on shares of Five9 from $45.00 to $28.00 and set a "hold" rating for the company in a research note on Monday, April 28th. Mizuho lowered their target price 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. Wells Fargo & Company lowered 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. Needham & Company LLC lowered their target price on shares of Five9 from $52.00 to $40.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Morgan Stanley decreased their price objective on shares of Five9 from $48.00 to $28.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Five9 presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.05.

Five9 Stock Performance

NASDAQ FIVN traded up $0.80 during trading hours on Wednesday, hitting $29.16. 1,648,546 shares of the stock were exchanged, compared to its average volume of 1,794,088. The company has a market cap of $2.22 billion, a price-to-earnings ratio of -323.96, a price-to-earnings-growth ratio of 2.70 and a beta of 1.19. Five9, Inc. has a 12-month low of $21.04 and a 12-month high of $49.90. The stock has a 50-day moving average of $27.35 and a 200 day moving average of $30.60. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 1.12.

Five9 (NASDAQ:FIVN - Get Free Report) last posted its quarterly 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. Five9 had a negative net margin of 0.48% and a positive return on equity of 6.06%. The firm had revenue of $279.71 million during the quarter, compared to analysts' expectations of $272.26 million. During the same period in the prior year, the company posted $0.48 earnings per share. The firm's revenue for the quarter was up 13.2% on a year-over-year basis. 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.