Charles Schwab Investment Management Inc. Cuts Stake in Five9, Inc. (NASDAQ:FIVN)

Charles Schwab Investment Management Inc. lowered its stake in shares of Five9, Inc. (NASDAQ:FIVN) by 3.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 457,257 shares of the software maker’s stock after selling 17,400 shares during the period. Charles Schwab Investment Management Inc. owned 0.61% of Five9 worth $13,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of FIVN. Signaturefd LLC lifted its stake in Five9 by 1,892.3% in the 3rd quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock worth $30,000 after purchasing an additional 984 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Five9 in the second quarter worth about $57,000. Quest Partners LLC bought a new position in Five9 during the third quarter valued at approximately $95,000. Cetera Advisors LLC purchased a new position in Five9 during the 1st quarter valued at approximately $226,000. Finally, nVerses Capital LLC bought a new stake in Five9 in the 3rd quarter worth approximately $141,000. Institutional investors own 96.64% of the company’s stock.

Five9 Price Performance

NASDAQ FIVN opened at $42.48 on Monday. The company has a market cap of $3.19 billion, a PE ratio of -84.96, a P/E/G ratio of 25.63 and a beta of 0.92. Five9, Inc. has a 52-week low of $26.60 and a 52-week high of $85.00. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.85 and a current ratio of 1.85. The firm’s 50 day moving average price is $34.11 and its 200-day moving average price is $36.96.

Insider Buying and Selling at Five9

In other Five9 news, CEO Michael Burkland sold 12,594 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $41.40, for a total transaction of $521,391.60. Following the completion of the sale, the chief executive officer now directly owns 240,894 shares of the company’s stock, valued at approximately $9,973,011.60. This represents a 4.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Barry Zwarenstein sold 4,408 shares of Five9 stock in a transaction that occurred on Tuesday, September 10th. The stock was 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 directly owns 101,732 shares in the company, valued at approximately $2,743,712.04. The trade was a 4.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,412 shares of company stock valued at $1,328,163. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Rosenblatt Securities boosted their price target on shares of Five9 from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Piper Sandler upped their target price on shares of Five9 from $35.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Robert W. Baird boosted their target price on Five9 from $40.00 to $43.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $48.00 price objective on shares of Five9 in a research note on Friday, November 8th. Finally, Morgan Stanley reduced their target price on shares of Five9 from $45.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 15th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Five9 presently has a consensus rating of “Moderate Buy” and a consensus 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.