Granahan Investment Management LLC Sells 39,789 Shares of Five9, Inc. (NASDAQ:FIVN)

Granahan Investment Management LLC reduced its stake in shares of Five9, Inc. (NASDAQ:FIVN - Free Report) by 19.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 163,657 shares of the software maker's stock after selling 39,789 shares during the quarter. Granahan Investment Management LLC owned 0.22% of Five9 worth $6,651,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in FIVN. Norges Bank acquired a new position in Five9 during the fourth quarter worth $81,280,000. Ameriprise Financial Inc. increased its position in Five9 by 353.3% in the 4th 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 during the period. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Five9 during the 4th quarter worth $51,061,000. Wellington Management Group LLP boosted its position in Five9 by 50.9% during 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 purchasing an additional 601,348 shares during the last quarter. Finally, Cooper Creek Partners Management LLC bought a new position in shares of Five9 in the fourth quarter worth about $14,782,000. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Piper Sandler upped their price objective on shares of Five9 from $46.00 to $53.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Mizuho cut their price objective on shares of Five9 from $55.00 to $42.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. UBS Group reduced their price objective on shares of Five9 from $55.00 to $35.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Jefferies Financial Group cut their target price on shares of Five9 from $45.00 to $28.00 and set a "hold" rating for the company in a research report on Monday, April 28th. Finally, Royal Bank of Canada increased their price target on shares of Five9 from $30.00 to $35.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Five9 has a consensus rating of "Moderate Buy" and an average price target of $43.58.

Five9 Trading Up 0.6%

NASDAQ:FIVN traded up $0.18 on Tuesday, reaching $28.23. The company's stock had a trading volume of 66,606 shares, compared to its average volume of 1,655,812. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.85 and a current ratio of 1.85. The business's 50-day moving average price is $26.32 and its two-hundred day moving average price is $34.73. The firm has a market cap of $2.15 billion, a PE ratio of -141.39, a PEG 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 $55.45.

Five9 (NASDAQ:FIVN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The software maker reported $0.62 earnings per share for the quarter, beating 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 business had revenue of $279.71 million for the quarter, compared to analysts' expectations of $272.26 million. During the same quarter last year, the firm earned $0.48 EPS. The firm's revenue for the quarter was up 13.2% compared to the same quarter last year. Equities research analysts anticipate that Five9, Inc. will post 0.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Michael Burkland sold 12,595 shares of Five9 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 sale, the chief executive officer now directly owns 404,056 shares in the company, valued at $14,396,515.28. The trade was a 3.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Leena Mansharamani sold 1,135 shares of Five9 stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $30.20, for a total value of $34,277.00. Following the sale, the chief accounting officer now owns 47,165 shares of the company's stock, valued at approximately $1,424,383. This represents a 2.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,574 shares of company stock valued at $1,004,346. Insiders own 1.60% of the company's stock.

Five9 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.