Five9, Inc. (NASDAQ:FIVN) Shares Sold by Legion Partners Asset Management LLC

Legion Partners Asset Management LLC trimmed its holdings in shares of Five9, Inc. (NASDAQ:FIVN - Free Report) by 8.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 591,685 shares of the software maker's stock after selling 54,000 shares during the period. Five9 makes up about 16.1% of Legion Partners Asset Management LLC's investment portfolio, making the stock its 4th biggest position. Legion Partners Asset Management LLC owned 0.79% of Five9 worth $24,046,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lindbrook Capital LLC lifted its holdings in Five9 by 155.7% during the 4th quarter. Lindbrook Capital LLC now owns 854 shares of the software maker's stock valued at $35,000 after purchasing an additional 520 shares during the last quarter. Banque Transatlantique SA bought a new position in Five9 during the 4th quarter valued at about $36,000. Johnson Financial Group Inc. bought a new position in Five9 during the 4th quarter valued at about $47,000. Steward Partners Investment Advisory LLC lifted its holdings in Five9 by 7,305.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,333 shares of the software maker's stock valued at $54,000 after purchasing an additional 1,315 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in Five9 by 3,955.4% during the 4th quarter. Venturi Wealth Management LLC now owns 2,636 shares of the software maker's stock valued at $107,000 after purchasing an additional 2,571 shares during the last quarter. 96.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FIVN shares. Piper Sandler lifted their price target on shares of Five9 from $46.00 to $53.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Wells Fargo & Company cut their price target on shares of Five9 from $45.00 to $23.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Evercore ISI cut their price target on shares of Five9 from $55.00 to $40.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Jefferies Financial Group cut their price target on shares of Five9 from $45.00 to $28.00 and set a "hold" rating for the company in a report on Monday, April 28th. Finally, William Blair reaffirmed an "outperform" rating on shares of Five9 in a research note on Thursday, March 13th. Seven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $43.58.

Five9 Trading Up 1.4%

Shares of NASDAQ:FIVN traded up $0.38 during trading on Friday, hitting $28.05. 1,252,042 shares of the company's stock were exchanged, compared to its average volume of 1,666,609. Five9, Inc. has a 1-year low of $21.04 and a 1-year high of $53.90. The firm has a 50-day moving average price of $26.05 and a two-hundred day moving average price of $34.65. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.32. The firm has a market cap of $2.14 billion, a P/E ratio of -140.24, a PEG ratio of 9.41 and a beta of 1.23.

Five9 (NASDAQ:FIVN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The software maker reported $0.62 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $272.26 million. During the same quarter in the previous year, the company earned $0.48 EPS. Five9's revenue was up 13.2% on a year-over-year basis. Equities analysts predict that Five9, Inc. will post 0.28 earnings per share for the current year.

Insider Transactions at Five9

In related news, COO Andy Dignan sold 2,840 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $33.23, for a total transaction of $94,373.20. Following the completion of the transaction, the chief operating officer now owns 194,201 shares in the company, valued at approximately $6,453,299.23. The trade was a 1.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Panos Kozanian sold 7,619 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $33.40, for a total transaction of $254,474.60. Following the transaction, the executive vice president now owns 126,359 shares of the company's stock, valued at approximately $4,220,390.60. This represents a 5.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,574 shares of company stock worth $1,004,346 in the last quarter. 1.60% of the stock is owned by company insiders.

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.