Five9, Inc. (NASDAQ:FIVN) Shares Sold by Tremblant Capital Group

Tremblant Capital Group cut its position in shares of Five9, Inc. (NASDAQ:FIVN) by 16.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 573,440 shares of the software maker’s stock after selling 114,626 shares during the quarter. Five9 accounts for 2.7% of Tremblant Capital Group’s investment portfolio, making the stock its 19th biggest holding. Tremblant Capital Group owned approximately 0.78% of Five9 worth $25,289,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FIVN. Vanguard Group Inc. increased its position in Five9 by 2.1% during the first quarter. Vanguard Group Inc. now owns 7,437,575 shares of the software maker’s stock worth $461,948,000 after buying an additional 150,786 shares in the last quarter. Wasatch Advisors LP grew its position in Five9 by 1.9% during the first quarter. Wasatch Advisors LP now owns 3,459,581 shares of the software maker’s stock valued at $214,875,000 after acquiring an additional 63,200 shares during the period. Sylebra Capital LLC lifted its stake in shares of Five9 by 1.5% during the first quarter. Sylebra Capital LLC now owns 2,347,108 shares of the software maker’s stock worth $145,779,000 after purchasing an additional 34,681 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Five9 by 38.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,457,086 shares of the software maker’s stock worth $64,257,000 after purchasing an additional 406,188 shares in the last quarter. Finally, Van Berkom & Associates Inc. lifted its stake in shares of Five9 by 52.3% during the second quarter. Van Berkom & Associates Inc. now owns 1,299,483 shares of the software maker’s stock worth $57,307,000 after purchasing an additional 446,151 shares in the last quarter. 96.64% of the stock is owned by institutional investors and hedge funds.

Five9 Trading Down 0.6 %

Five9 stock opened at $27.59 on Tuesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.15 and a quick ratio of 2.15. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of -32.46 and a beta of 0.86. Five9, Inc. has a one year low of $26.60 and a one year high of $92.40. The company’s fifty day moving average price is $35.49 and its two-hundred day moving average price is $46.38.

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FIVN shares. Baird R W cut Five9 from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Truist Financial reaffirmed a “buy” rating and set a $65.00 target price on shares of Five9 in a report on Tuesday, August 27th. Barclays decreased their price objective on Five9 from $75.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Piper Sandler restated an “overweight” rating and issued a $47.00 target price on shares of Five9 in a research report on Wednesday, August 21st. Finally, Morgan Stanley cut their target price on Five9 from $70.00 to $50.00 and set an “equal weight” rating for the company in a research report on Friday, June 14th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Five9 currently has a consensus rating of “Moderate Buy” and an average price target of $63.35.

Insider Activity

In related news, CEO Michael Burkland sold 12,595 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $30.27, for a total transaction of $381,250.65. Following the completion of the transaction, the chief executive officer now directly owns 253,488 shares in the company, valued at approximately $7,673,081.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Five9 news, CAO Leena Mansharamani sold 1,395 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $30.51, for a total value of $42,561.45. Following the sale, the chief accounting officer now directly owns 36,872 shares in the company, valued at approximately $1,124,964.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Burkland sold 12,595 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $30.27, for a total transaction of $381,250.65. Following the completion of the sale, the chief executive officer now owns 253,488 shares in the company, valued at $7,673,081.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,337 shares of company stock valued at $1,491,971. 1.80% of the stock is owned by company insiders.

Five9 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.