Geode Capital Management LLC Sells 71,630 Shares of Five9, Inc. (NASDAQ:FIVN)

Geode Capital Management LLC decreased its holdings in shares of Five9, Inc. (NASDAQ:FIVN) by 5.6% in the third quarter, Holdings Channel reports. The firm owned 1,212,185 shares of the software maker’s stock after selling 71,630 shares during the quarter. Geode Capital Management LLC’s holdings in Five9 were worth $34,835,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in FIVN. Signaturefd LLC grew its stake in shares of Five9 by 1,892.3% in the 3rd quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock valued at $30,000 after purchasing an additional 984 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Five9 during the second quarter worth $57,000. Quest Partners LLC bought a new position in shares of Five9 during the third quarter valued at $95,000. nVerses Capital LLC acquired a new stake in shares of Five9 in the 3rd quarter valued at $141,000. Finally, Lombard Odier Asset Management USA Corp bought a new stake in shares of Five9 in the 2nd quarter worth about $271,000. 96.64% of the stock is owned by institutional investors and hedge funds.

Five9 Stock Down 0.2 %

Shares of Five9 stock opened at $42.39 on Thursday. The business has a fifty day simple moving average of $37.32 and a 200 day simple moving average of $36.59. The stock has a market cap of $3.19 billion, a PE ratio of -84.78, a price-to-earnings-growth ratio of 28.88 and a beta of 0.92. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32. Five9, Inc. has a 12 month low of $26.60 and a 12 month high of $81.72.

Insider Transactions at Five9

In other news, EVP Panos Kozanian sold 7,619 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $42.09, for a total value of $320,683.71. Following the completion of the transaction, the executive vice president now owns 69,009 shares of the company’s stock, valued at $2,904,588.81. The trade was a 9.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Andy Dignan sold 4,109 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $41.85, for a total transaction of $171,961.65. Following the completion of the sale, the chief operating officer now owns 115,818 shares of the company’s stock, valued at approximately $4,846,983.30. This represents a 3.43 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,004 shares of company stock worth $1,209,279. 1.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

FIVN has been the subject of several analyst reports. Robert W. Baird lifted their price target on shares of Five9 from $40.00 to $43.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Truist Financial reissued a “buy” rating and issued a $65.00 target price on shares of Five9 in a report on Tuesday, December 17th. Piper Sandler raised their price target on Five9 from $35.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Wells Fargo & Company lowered Five9 from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $55.00 to $40.00 in a research note on Tuesday, November 12th. Finally, DA Davidson raised their target price on Five9 from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Five9 presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.18.

Five9 Company 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.