Allspring Global Investments Holdings LLC Has $12.31 Million Stock Position in Five9, Inc. (NASDAQ:FIVN)

Allspring Global Investments Holdings LLC lessened its position in shares of Five9, Inc. (NASDAQ:FIVN) by 29.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 198,222 shares of the software maker’s stock after selling 83,909 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.27% of Five9 worth $12,312,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI grew its position in shares of Five9 by 46.8% in the 4th quarter. Arcadia Investment Management Corp MI now owns 452 shares of the software maker’s stock valued at $36,000 after purchasing an additional 144 shares during the period. US Bancorp DE boosted its holdings in shares of Five9 by 1.4% in the fourth quarter. US Bancorp DE now owns 17,032 shares of the software maker’s stock valued at $1,340,000 after buying an additional 228 shares during the period. Global Wealth Management Investment Advisory Inc. increased its position in shares of Five9 by 139.5% during 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 in the last quarter. Headlands Technologies LLC raised its holdings in shares of Five9 by 136.0% during 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. Finally, Treasurer of the State of North Carolina lifted its position in Five9 by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 31,537 shares of the software maker’s stock valued at $2,482,000 after acquiring an additional 310 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Five9 in a report on Thursday, June 6th. Wells Fargo & Company reduced their price target on Five9 from $85.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, June 10th. Rosenblatt Securities reiterated a “buy” rating and issued a $80.00 price objective on shares of Five9 in a report on Friday, May 3rd. Royal Bank of Canada initiated coverage on shares of Five9 in a report on Friday, March 15th. They set an “outperform” rating and a $80.00 target price for the company. Finally, Morgan Stanley cut their price target on shares of Five9 from $70.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Friday, June 14th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $82.71.

Five9 Trading Down 0.8 %

FIVN stock opened at $42.52 on Tuesday. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of -50.02 and a beta of 0.82. The company has a fifty day moving average price of $47.47 and a two-hundred day moving average price of $60.78. Five9, Inc. has a one year low of $39.07 and a one year high of $92.40. The company has a debt-to-equity ratio of 2.41, a current ratio of 7.02 and a quick ratio of 7.02.

Five9 (NASDAQ:FIVN) last announced its quarterly earnings results on Thursday, May 2nd. The software maker reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.13. The business had revenue of $247.01 million for the quarter, compared to analyst estimates of $239.72 million. Five9 had a negative net margin of 6.56% and a negative return on equity of 9.09%. Equities analysts anticipate that Five9, Inc. will post -0.3 EPS for the current year.

Insider Activity at Five9

In other news, EVP Panos Kozanian sold 6,893 shares of Five9 stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $46.30, for a total transaction of $319,145.90. Following the completion of the sale, the executive vice president now owns 94,477 shares of the company’s stock, valued at $4,374,285.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Panos Kozanian sold 6,893 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $46.30, for a total transaction of $319,145.90. Following the transaction, the executive vice president now directly owns 94,477 shares of the company’s stock, valued at $4,374,285.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael Burkland sold 12,386 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $46.30, for a total transaction of $573,471.80. Following the completion of the sale, the chief executive officer now directly owns 266,083 shares of the company’s stock, valued at approximately $12,319,642.90. The disclosure for this sale can be found here. Insiders sold 44,541 shares of company stock worth $2,024,537 in the last ninety days. 1.80% of the stock is owned by company insiders.

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.