Five9, Inc. (NASDAQ:FIVN) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its position in shares of Five9, Inc. (NASDAQ:FIVN - Free Report) by 97.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 107,017 shares of the software maker's stock after selling 3,494,468 shares during the quarter. New York State Common Retirement Fund owned 0.15% of Five9 worth $8,421,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Sylebra Capital LLC bought a new position in Five9 in the third quarter valued at $129,467,000. Assenagon Asset Management S.A. grew its position in shares of Five9 by 84.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 837,856 shares of the software maker's stock valued at $65,931,000 after acquiring an additional 383,002 shares during the period. UBS Group AG lifted its stake in Five9 by 162.6% in the 3rd quarter. UBS Group AG now owns 533,914 shares of the software maker's stock valued at $34,331,000 after purchasing an additional 330,567 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Five9 by 966.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 348,536 shares of the software maker's stock valued at $22,411,000 after buying an additional 315,867 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Five9 by 3.2% in the third quarter. Vanguard Group Inc. now owns 7,236,249 shares of the software maker's stock valued at $465,291,000 after purchasing an additional 227,183 shares during the last quarter. Institutional investors and hedge funds own 96.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FIVN. Needham & Company LLC reiterated a "buy" rating and issued a $90.00 price target on shares of Five9 in a research report on Friday. Royal Bank of Canada began coverage on Five9 in a research report on Friday, March 15th. They issued an "outperform" rating and a $80.00 price target on the stock. UBS Group cut their price objective on shares of Five9 from $90.00 to $81.00 and set a "buy" rating for the company in a research report on Friday. Rosenblatt Securities reaffirmed a "buy" rating and set a $80.00 price target on shares of Five9 in a report on Friday. Finally, Barclays decreased their price objective on shares of Five9 from $105.00 to $95.00 and set an "overweight" rating on the stock in a research note on Thursday, February 22nd. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $84.88.

Five9 Stock Up 2.0 %

FIVN stock traded up $1.15 during mid-day trading on Friday, reaching $57.88. 3,913,043 shares of the company traded hands, compared to its average volume of 1,315,554. Five9, Inc. has a fifty-two week low of $51.01 and a fifty-two week high of $92.40. The company has a quick ratio of 5.53, a current ratio of 5.53 and a debt-to-equity ratio of 1.38. The firm's 50 day moving average price is $59.98 and its 200 day moving average price is $68.46. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of -51.22 and a beta of 0.85.

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

Insiders Place Their Bets

In other news, COO Andy Dignan sold 7,340 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $57.28, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.80% of the company's stock.

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.