Coronation Fund Managers Ltd. Lowers Stake in Five9, Inc. (NASDAQ:FIVN)

Coronation Fund Managers Ltd. cut its holdings in shares of Five9, Inc. (NASDAQ:FIVN) by 16.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 150,791 shares of the software maker’s stock after selling 28,847 shares during the period. Coronation Fund Managers Ltd. owned approximately 0.20% of Five9 worth $6,650,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of FIVN. Treasurer of the State of North Carolina boosted its stake in shares of Five9 by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 31,537 shares of the software maker’s stock worth $2,482,000 after acquiring an additional 310 shares during the last quarter. Quent Capital LLC increased its position 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 purchasing an additional 352 shares during the last quarter. Corient Private Wealth LLC raised its stake in Five9 by 8.4% during the fourth quarter. Corient Private Wealth LLC now owns 6,796 shares of the software maker’s stock worth $535,000 after purchasing an additional 527 shares during the period. RMB Capital Management LLC boosted its holdings in Five9 by 1.0% in the 4th quarter. RMB Capital Management LLC now owns 64,763 shares of the software maker’s stock valued at $5,096,000 after purchasing an additional 611 shares during the last quarter. Finally, BOKF NA grew its stake in shares of Five9 by 1.7% in the 1st quarter. BOKF NA now owns 39,846 shares of the software maker’s stock valued at $2,445,000 after buying an additional 657 shares during the period. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Wall Street Analyst Weigh In

FIVN has been the topic of several analyst reports. Rosenblatt Securities reduced their price target on shares of Five9 from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Morgan Stanley reduced their target price on Five9 from $70.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Friday, June 14th. Truist Financial reiterated a “buy” rating and set a $65.00 price target on shares of Five9 in a report on Tuesday, August 27th. Baird R W lowered shares of Five9 from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Finally, Bank of America raised shares of Five9 from an “underperform” rating to a “buy” rating and set a $63.00 price target on the stock in a research note on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $63.35.

Insider Activity

In related news, CFO Barry Zwarenstein sold 4,408 shares of Five9 stock in a transaction 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 approximately $2,743,712.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Andy Dignan sold 4,245 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $30.26, for a total value of $128,453.70. Following the completion of the sale, the chief operating officer now directly owns 119,927 shares of the company’s stock, valued at approximately $3,628,991.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Barry Zwarenstein sold 4,408 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 101,732 shares of the company’s stock, valued at $2,743,712.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,337 shares of company stock worth $1,491,971. Corporate insiders own 1.80% of the company’s stock.

Five9 Stock Down 5.1 %

Shares of NASDAQ FIVN opened at $27.26 on Wednesday. The business has a 50-day moving average of $33.83 and a two-hundred day moving average of $45.26. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of -32.07 and a beta of 0.86. Five9, Inc. has a 1 year low of $26.60 and a 1 year high of $92.40. 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 (NASDAQ:FIVN) last issued its earnings results on Thursday, August 8th. The software maker reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.14. The business had revenue of $252.09 million for the quarter, compared to analyst estimates of $244.54 million. Five9 had a negative return on equity of 6.59% and a negative net margin of 5.44%. On average, analysts forecast that Five9, Inc. will post -0.09 earnings per share for the current fiscal year.

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.