Zurcher Kantonalbank Zurich Cantonalbank Sells 298,975 Shares of Five9, Inc. (NASDAQ:FIVN)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of Five9, Inc. (NASDAQ:FIVN - Free Report) by 95.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,182 shares of the software maker's stock after selling 298,975 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Five9 were worth $1,195,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of FIVN. Orion Portfolio Solutions LLC boosted its holdings in shares of Five9 by 15.7% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 3,328 shares of the software maker's stock worth $214,000 after buying an additional 452 shares in the last quarter. Raymond James Trust N.A. bought a new position in shares of Five9 in the 4th quarter worth $230,000. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Five9 by 16.6% in the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 3,742 shares of the software maker's stock worth $241,000 after purchasing an additional 533 shares in the last quarter. Teza Capital Management LLC bought a new position in shares of Five9 in the 3rd quarter worth $252,000. Finally, Toth Financial Advisory Corp bought a new position in shares of Five9 in the 4th quarter worth $292,000. 96.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Five9 news, COO Andy Dignan sold 7,340 shares of the firm's stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $57.28, for a total value of $420,435.20. Following the completion of the transaction, the chief operating officer now owns 129,559 shares in the company, valued at approximately $7,421,139.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is currently owned by insiders.

Five9 Stock Performance

FIVN traded down $0.94 during trading hours on Friday, hitting $58.98. The stock had a trading volume of 1,043,909 shares, compared to its average volume of 1,078,029. The company's fifty day simple moving average is $61.00 and its 200 day simple moving average is $68.65. Five9, Inc. has a 1 year low of $51.01 and a 1 year high of $92.40. The stock has a market cap of $4.36 billion, a PE ratio of -52.19 and a beta of 0.83. The company has a quick ratio of 5.53, a current ratio of 5.53 and a debt-to-equity ratio of 1.38.

Five9 (NASDAQ:FIVN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The software maker reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.14. Five9 had a negative return on equity of 12.51% and a negative net margin of 8.98%. The company had revenue of $239.06 million during the quarter, compared to analyst estimates of $237.64 million. Equities analysts anticipate that Five9, Inc. will post -0.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FIVN. Wells Fargo & Company cut their target price on Five9 from $100.00 to $90.00 and set an "overweight" rating on the stock in a report on Thursday, February 22nd. KeyCorp cut their target price on Five9 from $93.00 to $86.00 and set an "overweight" rating on the stock in a report on Thursday, February 22nd. Royal Bank of Canada assumed coverage on Five9 in a report on Friday, March 15th. They issued an "outperform" rating and a $80.00 target price on the stock. Morgan Stanley dropped their price objective on Five9 from $80.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 17th. Finally, Canaccord Genuity Group dropped their price objective on Five9 from $90.00 to $75.00 and set a "buy" rating on the stock in a research note on Monday, April 22nd. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $85.47.

About Five9

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States 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.