Handelsinvest Investeringsforvaltning Decreases Stake in Five9, Inc. (NASDAQ:FIVN)

Handelsinvest Investeringsforvaltning lowered its stake in Five9, Inc. (NASDAQ:FIVN) by 34.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,671 shares of the software maker’s stock after selling 1,386 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Five9 were worth $166,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in FIVN. Arcadia Investment Management Corp MI raised its holdings in shares of Five9 by 46.8% in the fourth quarter. Arcadia Investment Management Corp MI now owns 452 shares of the software maker’s stock worth $36,000 after buying an additional 144 shares during the last quarter. Global Wealth Management Investment Advisory Inc. increased its stake in shares of Five9 by 139.5% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 479 shares of the software maker’s stock worth $38,000 after acquiring an additional 279 shares during the period. Headlands Technologies LLC increased its stake in shares of Five9 by 136.0% in the fourth quarter. Headlands Technologies LLC now owns 531 shares of the software maker’s stock worth $42,000 after acquiring an additional 306 shares during the period. Intrust Bank NA acquired a new stake in shares of Five9 in the fourth quarter worth $202,000. Finally, Inceptionr LLC acquired a new stake in shares of Five9 in the fourth quarter worth $215,000. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Five9 Stock Performance

Shares of NASDAQ FIVN opened at $42.82 on Thursday. The company’s 50-day simple moving average is $48.46 and its 200-day simple moving average is $61.66. Five9, Inc. has a 52-week low of $39.07 and a 52-week high of $92.40. The company has a current ratio of 7.02, a quick ratio of 7.02 and a debt-to-equity ratio of 2.41.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings results on Thursday, May 2nd. The software maker reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.13. The firm had revenue of $247.01 million for the quarter, compared to the consensus estimate of $239.72 million. Five9 had a negative net margin of 6.56% and a negative return on equity of 9.09%. Sell-side analysts predict that Five9, Inc. will post -0.3 EPS for the current year.

Insider Transactions at Five9

In other news, CFO Barry Zwarenstein sold 10,291 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $42.64, for a total value of $438,808.24. Following the transaction, the chief financial officer now directly owns 107,255 shares of the company’s stock, valued at $4,573,353.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Five9 news, CAO Leena Mansharamani sold 1,542 shares of Five9 stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $46.27, for a total transaction of $71,348.34. Following the transaction, the chief accounting officer now directly owns 38,267 shares of the company’s stock, valued at $1,770,614.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Barry Zwarenstein sold 10,291 shares of Five9 stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $42.64, for a total transaction of $438,808.24. Following the transaction, the chief financial officer now directly owns 107,255 shares in the company, valued at $4,573,353.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,541 shares of company stock valued at $2,024,537. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

FIVN has been the topic of a number of research reports. Royal Bank of Canada initiated coverage on shares of Five9 in a research note on Friday, March 15th. They issued an “outperform” rating and a $80.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Five9 in a research note on Thursday, June 6th. Canaccord Genuity Group cut their price objective on shares of Five9 from $90.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $80.00 price objective on shares of Five9 in a research note on Friday, May 3rd. Finally, UBS Group dropped their price target on shares of Five9 from $90.00 to $81.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Five9 presently has an average rating of “Moderate Buy” and a consensus price target of $82.71.

Five9 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.