Victory Capital Management Inc. Sells 55,597 Shares of Five9, Inc. (NASDAQ:FIVN)

Victory Capital Management Inc. reduced its position in shares of Five9, Inc. (NASDAQ:FIVN) by 24.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 174,848 shares of the software maker’s stock after selling 55,597 shares during the quarter. Victory Capital Management Inc. owned approximately 0.24% of Five9 worth $7,711,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB bought a new position in shares of Five9 during the first quarter valued at about $3,239,000. Alberta Investment Management Corp bought a new position in Five9 during the 4th quarter valued at approximately $2,254,000. Neo Ivy Capital Management purchased a new stake in Five9 in the 2nd quarter worth approximately $2,177,000. Trexquant Investment LP bought a new stake in shares of Five9 in the 4th quarter worth approximately $1,364,000. Finally, Tairen Capital Ltd purchased a new position in shares of Five9 during the fourth quarter valued at approximately $5,836,000. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Five9 Stock Performance

FIVN stock opened at $28.49 on Monday. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.15 and a quick ratio of 2.15. Five9, Inc. has a 1 year low of $26.60 and a 1 year high of $92.40. The company has a market cap of $2.13 billion, a P/E ratio of -33.52 and a beta of 0.86. The stock’s fifty day moving average price is $37.18 and its 200-day moving average price is $47.70.

Five9 (NASDAQ:FIVN) last announced its earnings results on Thursday, August 8th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $252.09 million for the quarter, compared to analysts’ expectations of $244.54 million. On average, equities analysts forecast that Five9, Inc. will post -0.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $48.00 price target on shares of Five9 in a research report on Wednesday, August 21st. Wells Fargo & Company lowered their target price on shares of Five9 from $80.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Truist Financial restated a “buy” rating and issued a $65.00 price target on shares of Five9 in a research note on Tuesday, August 27th. StockNews.com upgraded Five9 from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Piper Sandler reissued an “overweight” rating and issued a $47.00 target price on shares of Five9 in a research note on Wednesday, August 21st. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $63.35.

Insider Buying and Selling at Five9

In other news, CFO Barry Zwarenstein sold 6,207 shares of Five9 stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $45.01, for a total transaction of $279,377.07. Following the transaction, the chief financial officer now owns 85,121 shares in the company, valued at approximately $3,831,296.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Barry Zwarenstein sold 6,207 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $45.01, for a total value of $279,377.07. Following the transaction, the chief financial officer now owns 85,121 shares of the company’s stock, valued at $3,831,296.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Daniel P. Burkland sold 2,637 shares of Five9 stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $43.55, for a total value of $114,841.35. Following the transaction, the executive now directly owns 130,079 shares in the company, valued at $5,664,940.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,337 shares of company stock valued at $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.