King Luther Capital Management Corp Makes New Investment in Five9, Inc. (NASDAQ:FIVN)

King Luther Capital Management Corp acquired a new stake in Five9, Inc. (NASDAQ:FIVN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 46,753 shares of the software maker’s stock, valued at approximately $2,062,000. King Luther Capital Management Corp owned 0.06% of Five9 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Quent Capital LLC boosted its position in Five9 by 8.7% in the 2nd quarter. Quent Capital LLC now owns 4,379 shares of the software maker’s stock valued at $193,000 after buying an additional 352 shares during the period. Cetera Advisors LLC acquired a new stake in shares of Five9 in the first quarter valued at $226,000. ProShare Advisors LLC acquired a new position in Five9 during the 1st quarter worth $247,000. Edgestream Partners L.P. acquired a new position in Five9 during the 1st quarter worth $264,000. Finally, Cynosure Group LLC purchased a new stake in Five9 during the 1st quarter worth about $329,000. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Five9 Price Performance

Shares of NASDAQ:FIVN opened at $27.77 on Friday. Five9, Inc. has a one year low of $26.60 and a one year high of $92.40. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of -32.67 and a beta of 0.86. The company has a 50-day simple moving average of $35.82 and a 200-day simple moving average of $46.66. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.15 and a current ratio of 2.15.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on FIVN shares. Needham & Company LLC reissued a “buy” rating and set a $48.00 price objective on shares of Five9 in a research report on Wednesday, August 21st. Barclays dropped their price objective on shares of Five9 from $75.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Truist Financial reaffirmed a “buy” rating and set a $65.00 price objective on shares of Five9 in a research report on Tuesday, August 27th. Wells Fargo & Company dropped their target price on Five9 from $80.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Finally, Bank of America raised Five9 from an “underperform” rating to a “buy” rating and set a $63.00 price target for the company in a report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $63.35.

Insider Buying and Selling

In other Five9 news, COO Andy Dignan sold 4,245 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $30.26, for a total value of $128,453.70. Following the transaction, the chief operating officer now directly owns 119,927 shares of the company’s stock, valued at approximately $3,628,991.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Leena Mansharamani sold 1,395 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $30.51, for a total transaction of $42,561.45. Following the transaction, the chief accounting officer now owns 36,872 shares of the company’s stock, valued at $1,124,964.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Andy Dignan sold 4,245 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $30.26, for a total value of $128,453.70. Following the completion of the transaction, the chief operating officer now owns 119,927 shares of the company’s stock, valued at approximately $3,628,991.02. The disclosure for this sale can be found here. Insiders sold a total of 45,337 shares of company stock valued at $1,491,971 over the last three months. 1.80% of the stock is currently owned by company insiders.

About Five9

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.