Dark Forest Capital Management LP Takes Position in Five9, Inc. (NASDAQ:FIVN)

Dark Forest Capital Management LP purchased a new stake in shares of Five9, Inc. (NASDAQ:FIVN) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 7,624 shares of the software maker’s stock, valued at approximately $336,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Quent Capital LLC increased its stake in Five9 by 8.7% during the second quarter. Quent Capital LLC now owns 4,379 shares of the software maker’s stock worth $193,000 after acquiring an additional 352 shares during the last quarter. Cetera Advisors LLC purchased a new position in shares of Five9 during the 1st quarter worth $226,000. ProShare Advisors LLC acquired a new stake in shares of Five9 during the 1st quarter worth about $247,000. Edgestream Partners L.P. purchased a new stake in Five9 in the 1st quarter valued at about $264,000. Finally, Lombard Odier Asset Management USA Corp acquired a new position in Five9 in the second quarter valued at about $271,000. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on FIVN shares. Piper Sandler reiterated an “overweight” rating and set a $47.00 price target on shares of Five9 in a research report on Wednesday, August 21st. Bank of America raised Five9 from an “underperform” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Monday, August 5th. Baird R W lowered Five9 from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Wells Fargo & Company cut their price objective on Five9 from $80.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Finally, Northland Securities lowered their target price on Five9 from $95.00 to $50.00 and set an “outperform” rating for the company in a 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.35.

Insider Buying and Selling

In other Five9 news, CFO Barry Zwarenstein sold 4,408 shares of the 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 transaction, the chief financial officer now directly owns 101,732 shares in the company, valued at $2,743,712.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Five9 news, CFO Barry Zwarenstein sold 4,408 shares of the company’s stock in a transaction 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 owns 101,732 shares in the company, valued at $2,743,712.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Leena Mansharamani sold 1,395 shares of Five9 stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $30.51, for a total value of $42,561.45. Following the sale, the chief accounting officer now owns 36,872 shares in the company, valued at approximately $1,124,964.72. The disclosure for this sale can be found here. Insiders sold a total of 45,337 shares of company stock worth $1,491,971 over the last 90 days. 1.80% of the stock is owned by insiders.

Five9 Price Performance

Shares of FIVN opened at $28.76 on Friday. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of -33.83 and a beta of 0.86. The firm’s fifty day simple moving average is $34.13 and its 200-day simple moving average is $45.69. Five9, Inc. has a twelve month low of $26.60 and a twelve month high of $92.40. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 1.39.

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