US Bancorp DE Sells 5,544 Shares of Five9, Inc. (NASDAQ:FIVN)

US Bancorp DE reduced its stake in shares of Five9, Inc. (NASDAQ:FIVN) by 44.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,941 shares of the software maker’s stock after selling 5,544 shares during the period. US Bancorp DE’s holdings in Five9 were worth $199,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Sei Investments Co. lifted its stake in shares of Five9 by 5.4% in the first quarter. Sei Investments Co. now owns 192,209 shares of the software maker’s stock worth $11,938,000 after buying an additional 9,816 shares during the last quarter. ProShare Advisors LLC bought a new stake in Five9 during the first quarter valued at about $247,000. State Board of Administration of Florida Retirement System grew its position in shares of Five9 by 1.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 76,495 shares of the software maker’s stock valued at $4,751,000 after purchasing an additional 745 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Five9 by 2.1% in the first quarter. Vanguard Group Inc. now owns 7,437,575 shares of the software maker’s stock worth $461,948,000 after purchasing an additional 150,786 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in shares of Five9 during the 1st quarter worth about $264,000. Institutional investors and hedge funds own 96.64% of the company’s stock.

Insider Transactions at Five9

In other news, CRO Daniel P. Burkland sold 2,605 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $33.41, for a total transaction of $87,033.05. Following the transaction, the executive now directly owns 132,554 shares in the company, valued at approximately $4,428,629.14. This represents a 1.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $118,883.76. Following the sale, the chief financial officer now directly owns 101,732 shares in the company, valued at $2,743,712.04. This trade represents a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,493 shares of company stock valued at $1,097,753 in the last three months. 1.80% of the stock is owned by corporate insiders.

Five9 Price Performance

NASDAQ:FIVN opened at $38.96 on Friday. The firm has a market cap of $2.93 billion, a PE ratio of -77.76, a price-to-earnings-growth ratio of 26.52 and a beta of 0.85. The company’s 50-day moving average price is $29.99 and its two-hundred day moving average price is $38.82. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32. Five9, Inc. has a 12 month low of $26.60 and a 12 month high of $92.40.

Analysts Set New Price Targets

Several brokerages have commented on FIVN. Northland Securities dropped their price target on Five9 from $95.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Wells Fargo & Company downgraded shares of Five9 from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $55.00 to $40.00 in a report on Tuesday. BTIG Research dropped their price objective on shares of Five9 from $100.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Needham & Company LLC reiterated a “buy” rating and issued a $48.00 target price on shares of Five9 in a research note on Friday, November 8th. Finally, 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. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.22.

Five9 Profile

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States, India, 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.