Tremblant Capital Group Grows Stake in Five9, Inc. (NASDAQ:FIVN)

Tremblant Capital Group grew its position in Five9, Inc. (NASDAQ:FIVN - Free Report) by 24.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 654,174 shares of the software maker's stock after buying an additional 127,979 shares during the quarter. Five9 accounts for 2.8% of Tremblant Capital Group's holdings, making the stock its 15th largest holding. Tremblant Capital Group owned about 0.87% of Five9 worth $26,586,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. increased its holdings in shares of Five9 by 10.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,836 shares of the software maker's stock valued at $156,000 after purchasing an additional 365 shares during the period. Arizona State Retirement System boosted its stake in Five9 by 2.0% during the 4th quarter. Arizona State Retirement System now owns 21,694 shares of the software maker's stock worth $882,000 after purchasing an additional 424 shares during the last quarter. Lindbrook Capital LLC lifted its position in Five9 by 155.7% during the fourth quarter. Lindbrook Capital LLC now owns 854 shares of the software maker's stock worth $35,000 after buying an additional 520 shares in the last quarter. Xponance Inc. lifted its position in Five9 by 6.1% during the fourth quarter. Xponance Inc. now owns 9,421 shares of the software maker's stock worth $383,000 after buying an additional 539 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised 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 valued at $1,325,000 after purchasing an additional 590 shares during the period. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Five9

In other news, CAO Leena Mansharamani sold 1,135 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $30.20, for a total transaction of $34,277.00. Following the completion of the transaction, the chief accounting officer now directly owns 47,165 shares of the company's stock, valued at approximately $1,424,383. This represents a 2.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Panos Kozanian sold 7,619 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $33.40, for a total value of $254,474.60. Following the transaction, the executive vice president now directly owns 126,359 shares of the company's stock, valued at approximately $4,220,390.60. This trade represents a 5.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 29,574 shares of company stock valued at $1,004,346. Corporate insiders own 1.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FIVN. Wells Fargo & Company cut their price objective on Five9 from $45.00 to $23.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Royal Bank of Canada upped their price objective on Five9 from $30.00 to $35.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Mizuho lowered their price objective on Five9 from $55.00 to $42.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. UBS Group lowered their price objective on Five9 from $55.00 to $35.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Piper Sandler upped their price objective on Five9 from $46.00 to $53.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $43.58.

Five9 Stock Performance

FIVN traded down $0.37 on Friday, hitting $26.59. 1,856,304 shares of the company traded hands, compared to its average volume of 1,684,341. The company has a 50 day moving average of $25.76 and a 200-day moving average of $34.49. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $2.03 billion, a PE ratio of -132.94, a PEG ratio of 9.41 and a beta of 1.23. Five9, Inc. has a 12-month low of $21.04 and a 12-month high of $50.70.

Five9 (NASDAQ:FIVN - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $272.26 million. Five9 had a positive return on equity of 3.62% and a negative net margin of 1.23%. The firm's revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.48 EPS. Sell-side analysts anticipate 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.