Magnetar Financial LLC Invests $2.23 Million in Five9, Inc. (NASDAQ:FIVN)

Magnetar Financial LLC purchased a new position in shares of Five9, Inc. (NASDAQ:FIVN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 50,629 shares of the software maker’s stock, valued at approximately $2,233,000. Magnetar Financial LLC owned approximately 0.07% of Five9 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. ProShare Advisors LLC increased its stake in Five9 by 110.4% in the 2nd quarter. ProShare Advisors LLC now owns 8,382 shares of the software maker’s stock valued at $370,000 after buying an additional 4,399 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in Five9 by 65.5% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 40,374 shares of the software maker’s stock valued at $1,780,000 after buying an additional 15,973 shares during the last quarter. Sei Investments Co. increased its stake in Five9 by 17.1% in the 2nd quarter. Sei Investments Co. now owns 225,155 shares of the software maker’s stock valued at $9,929,000 after buying an additional 32,946 shares during the last quarter. King Luther Capital Management Corp acquired a new stake in Five9 in the 2nd quarter valued at $2,062,000. Finally, Hsbc Holdings PLC increased its stake in Five9 by 289.6% in the 2nd quarter. Hsbc Holdings PLC now owns 109,807 shares of the software maker’s stock valued at $4,806,000 after buying an additional 81,626 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on FIVN shares. Morgan Stanley decreased their price objective on shares of Five9 from $70.00 to $50.00 and set an “equal weight” rating for the company in a research report on Friday, June 14th. Needham & Company LLC reissued a “buy” rating and issued a $48.00 price objective on shares of Five9 in a research report on Wednesday, August 21st. Roth Mkm decreased their price objective on shares of Five9 from $90.00 to $67.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Wells Fargo & Company decreased their price objective on shares of Five9 from $80.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Finally, Baird R W downgraded shares of Five9 from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $63.35.

Insider Activity

In other news, CFO Barry Zwarenstein sold 4,408 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $26.97, for a total value of $118,883.76. Following the completion of the transaction, the chief financial officer now directly owns 101,732 shares in the company, valued at approximately $2,743,712.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CRO Daniel P. Burkland sold 2,637 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $43.55, for a total value of $114,841.35. Following the completion of the transaction, the executive now directly owns 130,079 shares in the company, valued at approximately $5,664,940.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Barry Zwarenstein sold 4,408 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $26.97, for a total transaction of $118,883.76. Following the completion of the transaction, the chief financial officer now owns 101,732 shares of the company’s stock, valued at $2,743,712.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,337 shares of company stock worth $1,491,971. 1.80% of the stock is currently owned by corporate insiders.

Five9 Stock Performance

NASDAQ FIVN opened at $27.59 on Tuesday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $2.04 billion, a P/E ratio of -32.46 and a beta of 0.86. Five9, Inc. has a 12-month low of $26.60 and a 12-month high of $92.40. The firm has a 50-day moving average price of $35.49 and a two-hundred day moving average price of $46.38.

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

Five9 Company 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.