Royal Bank of Canada Has $15 Million Position in Five9, Inc. (NASDAQ:FIVN)

Royal Bank of Canada grew its position in Five9, Inc. (NASDAQ:FIVN - Free Report) by 6.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 369,001 shares of the software maker's stock after purchasing an additional 20,775 shares during the quarter. Royal Bank of Canada owned approximately 0.49% of Five9 worth $14,997,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of FIVN. Norges Bank acquired a new stake in Five9 during the 4th quarter worth $81,280,000. Ameriprise Financial Inc. boosted its holdings in shares of Five9 by 353.3% in the fourth quarter. Ameriprise Financial Inc. now owns 2,395,566 shares of the software maker's stock valued at $97,356,000 after acquiring an additional 1,867,137 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Five9 in the fourth quarter valued at about $51,061,000. Wellington Management Group LLP boosted its holdings in shares of Five9 by 50.9% in the fourth quarter. Wellington Management Group LLP now owns 1,783,870 shares of the software maker's stock valued at $72,496,000 after acquiring an additional 601,348 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in Five9 by 110.6% during the fourth quarter. Point72 Asset Management L.P. now owns 882,785 shares of the software maker's stock worth $35,876,000 after buying an additional 463,681 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on FIVN. Royal Bank of Canada boosted their price objective on shares of Five9 from $30.00 to $35.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. UBS Group cut their price objective on shares of Five9 from $55.00 to $35.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Barclays lowered their target price on shares of Five9 from $60.00 to $33.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Rosenblatt Securities restated a "buy" rating and issued a $36.00 target price on shares of Five9 in a report on Tuesday, May 13th. Finally, Mizuho decreased 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. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.58.

Five9 Stock Down 0.4%

FIVN traded down $0.11 during trading on Thursday, hitting $27.00. The company had a trading volume of 1,834,158 shares, compared to its average volume of 1,689,850. The company has a market cap of $2.06 billion, a PE ratio of -134.99, a P/E/G ratio of 9.41 and a beta of 1.23. Five9, Inc. has a 1-year low of $21.04 and a 1-year high of $49.90. The business has a 50-day moving average of $25.59 and a 200-day moving average of $34.35. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85.

Five9 (NASDAQ:FIVN - Get Free Report) last issued its earnings results on Thursday, May 1st. The software maker reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.14. Five9 had a negative net margin of 1.23% and a positive return on equity of 3.62%. The company had revenue of $279.71 million for the quarter, compared to analysts' expectations of $272.26 million. During the same period in the prior year, the company earned $0.48 earnings per share. The firm's revenue was up 13.2% compared to the same quarter last year. As a group, analysts forecast that Five9, Inc. will post 0.28 earnings per share for the current year.

Insider Activity at Five9

In other Five9 news, CAO Leena Mansharamani sold 1,135 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $30.20, for a total transaction of $34,277.00. Following the transaction, the chief accounting officer now owns 47,165 shares of the company's stock, valued at approximately $1,424,383. This trade represents a 2.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Burkland sold 12,595 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $35.63, for a total transaction of $448,759.85. Following the transaction, the chief executive officer now directly owns 404,056 shares in the company, valued at approximately $14,396,515.28. The trade was a 3.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,574 shares of company stock worth $1,004,346 in the last ninety days. 1.60% of the stock is 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.