Victory Capital Management Inc. Lowers Holdings in Five9, Inc. (NASDAQ:FIVN)

Victory Capital Management Inc. lowered its holdings in shares of Five9, Inc. (NASDAQ:FIVN) by 24.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 174,848 shares of the software maker’s stock after selling 55,597 shares during the period. Victory Capital Management Inc.’s holdings in Five9 were worth $7,711,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FIVN. Vanguard Group Inc. grew its holdings in Five9 by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 7,437,575 shares of the software maker’s stock valued at $461,948,000 after buying an additional 150,786 shares in the last quarter. Wasatch Advisors LP increased its holdings in Five9 by 1.9% in the 1st quarter. Wasatch Advisors LP now owns 3,459,581 shares of the software maker’s stock valued at $214,875,000 after acquiring an additional 63,200 shares during the last quarter. Sylebra Capital LLC lifted its stake in Five9 by 1.5% in the 1st quarter. Sylebra Capital LLC now owns 2,347,108 shares of the software maker’s stock worth $145,779,000 after purchasing an additional 34,681 shares in the last quarter. Eagle Asset Management Inc. lifted its stake in Five9 by 0.8% in the 4th quarter. Eagle Asset Management Inc. now owns 1,035,554 shares of the software maker’s stock worth $81,488,000 after purchasing an additional 8,231 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Five9 during the 4th quarter valued at about $79,035,000. Institutional investors own 96.64% of the company’s stock.

Five9 Trading Up 2.4 %

NASDAQ FIVN opened at $28.49 on Monday. The stock has a market cap of $2.13 billion, a PE ratio of -33.52 and a beta of 0.86. Five9, Inc. has a 12 month low of $26.60 and a 12 month high of $92.40. The company’s 50-day moving average price is $37.18 and its 200-day moving average price is $47.70. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 1.39.

Five9 (NASDAQ:FIVN) last released its quarterly earnings data on Thursday, August 8th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.14. Five9 had a negative net margin of 5.44% and a negative return on equity of 6.59%. The company had revenue of $252.09 million during the quarter, compared to analysts’ expectations of $244.54 million. Equities research analysts forecast that Five9, Inc. will post -0.09 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on FIVN shares. Piper Sandler reiterated an “overweight” rating and issued a $47.00 target price on shares of Five9 in a research report on Wednesday, August 21st. Roth Mkm lowered their target price on Five9 from $90.00 to $67.00 and set a “buy” rating for the company in a research report on Friday, August 9th. StockNews.com upgraded shares of Five9 from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Rosenblatt Securities lowered their price objective on shares of Five9 from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, BTIG Research reduced their target price on shares of Five9 from $100.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.35.

Insiders Place Their Bets

In other Five9 news, EVP Panos Kozanian sold 7,617 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $30.02, for a total value of $228,662.34. Following the completion of the sale, the executive vice president now directly owns 76,628 shares in the company, valued at approximately $2,300,372.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Barry Zwarenstein sold 4,408 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $26.97, for a total value of $118,883.76. Following the completion of the sale, the chief financial officer now owns 101,732 shares in the company, valued at approximately $2,743,712.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Panos Kozanian sold 7,617 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $30.02, for a total transaction of $228,662.34. Following the transaction, the executive vice president now owns 76,628 shares in the company, valued at $2,300,372.56. The disclosure for this sale can be found here. Insiders have sold 45,337 shares of company stock worth $1,491,971 in the last ninety days. 1.80% of the stock is owned by company insiders.

Five9 Company Profile

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.