Point72 Hong Kong Ltd Sells 11,193 Shares of Five9, Inc. (NASDAQ:FIVN)

Point72 Hong Kong Ltd reduced its holdings in Five9, Inc. (NASDAQ:FIVN - Free Report) by 47.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,408 shares of the software maker's stock after selling 11,193 shares during the quarter. Point72 Hong Kong Ltd's holdings in Five9 were worth $504,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in FIVN. Norges Bank acquired a new position in shares of Five9 during the fourth quarter valued at about $81,280,000. Ameriprise Financial Inc. raised its position in shares of Five9 by 353.3% during the fourth quarter. Ameriprise Financial Inc. now owns 2,395,566 shares of the software maker's stock valued at $97,356,000 after buying an additional 1,867,137 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Five9 during the fourth quarter valued at about $51,061,000. Wellington Management Group LLP raised its position in shares of 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 buying an additional 601,348 shares during the last quarter. Finally, Cooper Creek Partners Management LLC acquired a new position in shares of Five9 in the 4th quarter valued at $14,782,000. Hedge funds and other institutional investors own 96.64% of the company's stock.

Five9 Price Performance

Shares of FIVN traded up $0.55 during midday trading on Thursday, hitting $26.06. 315,915 shares of the company traded hands, compared to its average volume of 1,665,306. The stock has a 50-day moving average of $25.90 and a 200-day moving average of $34.54. Five9, Inc. has a one year low of $21.04 and a one year high of $53.21. The firm has a market cap of $1.99 billion, a P/E ratio of -130.87, a PEG ratio of 9.41 and a beta of 1.23. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85.

Five9 (NASDAQ:FIVN - Get Free Report) last issued its quarterly earnings data 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 positive return on equity of 3.62% and a negative net margin of 1.23%. The company had revenue of $279.71 million during the quarter, compared to analyst estimates of $272.26 million. During the same quarter in the previous year, the firm earned $0.48 earnings per share. Five9's revenue was up 13.2% on a year-over-year basis. As a group, sell-side analysts predict that Five9, Inc. will post 0.28 EPS for the current fiscal year.

Insider Activity at Five9

In other news, COO Andy Dignan sold 2,840 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $33.23, for a total value of $94,373.20. Following the transaction, the chief operating officer now owns 194,201 shares of the company's stock, valued at $6,453,299.23. This trade represents a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Leena Mansharamani sold 1,135 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $30.20, for a total value of $34,277.00. Following the completion of the transaction, the chief accounting officer now directly owns 47,165 shares in the company, valued at $1,424,383. This trade represents a 2.35% 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 over the last quarter. 1.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Jefferies Financial Group decreased their price objective on shares of Five9 from $45.00 to $28.00 and set a "hold" rating on the stock in a report on Monday, April 28th. William Blair reaffirmed an "outperform" rating on shares of Five9 in a research note on Thursday, March 13th. Cantor Fitzgerald reissued an "overweight" rating on shares of Five9 in a research note on Wednesday, April 2nd. Morgan Stanley lowered their target price on shares of Five9 from $48.00 to $28.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, Barclays lowered their target price on shares of Five9 from $60.00 to $33.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. 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, Five9 presently has an average rating of "Moderate Buy" and a consensus price target of $43.58.

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.