State of New Jersey Common Pension Fund D Trims Stake in Five9, Inc. (NASDAQ:FIVN)

State of New Jersey Common Pension Fund D lessened its position in Five9, Inc. (NASDAQ:FIVN) by 8.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,925 shares of the software maker’s stock after selling 3,654 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.05% of Five9 worth $1,717,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FIVN. Corient Private Wealth LLC boosted its position in shares of Five9 by 8.4% during the fourth quarter. Corient Private Wealth LLC now owns 6,796 shares of the software maker’s stock valued at $535,000 after buying an additional 527 shares during the period. Trexquant Investment LP bought a new position in Five9 in the 4th quarter valued at $1,364,000. US Bancorp DE grew its position in Five9 by 1.4% in the 4th quarter. US Bancorp DE now owns 17,032 shares of the software maker’s stock valued at $1,340,000 after acquiring an additional 228 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in Five9 by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 31,537 shares of the software maker’s stock worth $2,482,000 after purchasing an additional 310 shares during the period. Finally, Evoke Wealth LLC bought a new stake in shares of Five9 during the fourth quarter worth $2,058,000. 96.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on FIVN. Northland Securities reduced their price target on shares of Five9 from $95.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Wells Fargo & Company lowered their price target on Five9 from $80.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Rosenblatt Securities dropped their price objective on Five9 from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $48.00 target price on shares of Five9 in a research report on Wednesday, August 21st. Finally, StockNews.com raised Five9 from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Five9 presently has an average rating of “Moderate Buy” and an average price target of $63.35.

Five9 Price Performance

Shares of FIVN opened at $27.65 on Wednesday. The company has a 50 day moving average of $35.13 and a two-hundred day moving average of $46.16. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 1.39. Five9, Inc. has a twelve month low of $26.60 and a twelve month high of $92.40. The company has a market cap of $2.04 billion, a price-to-earnings ratio of -32.53 and a beta of 0.86.

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 firm had revenue of $252.09 million during the quarter, compared to analysts’ expectations of $244.54 million. As a group, analysts predict that Five9, Inc. will post -0.09 earnings per share for the current fiscal year.

Insider Transactions at Five9

In other Five9 news, COO Andy Dignan sold 4,245 shares of the firm’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 completion of the transaction, the chief operating officer now owns 119,927 shares of the company’s stock, valued at $3,628,991.02. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Michael Burkland sold 12,595 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $30.27, for a total value of $381,250.65. Following the sale, the chief executive officer now owns 253,488 shares in the company, valued at $7,673,081.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Andy Dignan sold 4,245 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $30.26, for a total transaction of $128,453.70. Following the transaction, the chief operating officer now directly owns 119,927 shares of the company’s stock, valued at $3,628,991.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,337 shares of company stock worth $1,491,971. Insiders own 1.80% of the company’s stock.

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.