Shell Asset Management Co. cut its holdings in Five9 Inc (NASDAQ:FIVN) by 19.0% during the first quarter, HoldingsChannel reports. The firm owned 173,302 shares of the software maker’s stock after selling 40,620 shares during the quarter. Shell Asset Management Co.’s holdings in Five9 were worth $9,156,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Mckinley Capital Management LLC Delaware lifted its holdings in Five9 by 27.9% in the 1st quarter. Mckinley Capital Management LLC Delaware now owns 989 shares of the software maker’s stock worth $52,000 after purchasing an additional 216 shares in the last quarter. Bank of Montreal Can lifted its holdings in Five9 by 58.3% in the 4th quarter. Bank of Montreal Can now owns 1,135 shares of the software maker’s stock worth $49,000 after purchasing an additional 418 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Five9 by 11.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,408 shares of the software maker’s stock worth $193,000 after purchasing an additional 442 shares in the last quarter. Winslow Evans & Crocker Inc. purchased a new position in Five9 in the 1st quarter worth approximately $30,000. Finally, Pearl River Capital LLC purchased a new position in Five9 in the 1st quarter worth approximately $32,000.
A number of research firms have issued reports on FIVN. Zacks Investment Research downgraded Five9 from a “buy” rating to a “hold” rating in a research note on Monday, April 29th. KeyCorp reaffirmed a “hold” rating on shares of Five9 in a research note on Thursday, May 2nd. Summit Insights raised Five9 from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Stephens reaffirmed a “hold” rating and issued a $53.00 price objective on shares of Five9 in a research note on Monday, April 29th. Finally, Canaccord Genuity lifted their price objective on Five9 from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, February 20th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. Five9 has an average rating of “Buy” and an average target price of $53.54.
Five9 (NASDAQ:FIVN) last released its earnings results on Wednesday, May 1st. The software maker reported $0.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.05. The firm had revenue of $74.54 million for the quarter, compared to the consensus estimate of $70.81 million. Five9 had a positive return on equity of 8.35% and a negative net margin of 0.56%. The company’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS. As a group, analysts anticipate that Five9 Inc will post -0.03 EPS for the current year.
In other news, EVP Scott Welch sold 1,031 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $53.30, for a total transaction of $54,952.30. Following the transaction, the executive vice president now owns 86,268 shares of the company’s stock, valued at approximately $4,598,084.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael Burkland sold 1,700 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $56.01, for a total value of $95,217.00. Following the transaction, the director now directly owns 82,171 shares in the company, valued at approximately $4,602,397.71. The disclosure for this sale can be found here. In the last three months, insiders have sold 649,932 shares of company stock worth $33,488,705. Corporate insiders own 4.90% of the company’s stock.
Five9, Inc, together with its subsidiaries, provides cloud software for contact centers in the United States and internationally. The company offers 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; and acts as a hub for omnichannel engagement between the clients and their customers, which enables them to manage the end-to-end customer experience in a single unified architecture.
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