State of New Jersey Common Pension Fund D Has $1.69 Million Stake in Five9, Inc. (NASDAQ:FIVN)

State of New Jersey Common Pension Fund D lifted its position in shares of Five9, Inc. (NASDAQ:FIVN) by 51.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,965 shares of the software maker’s stock after buying an additional 20,040 shares during the period. State of New Jersey Common Pension Fund D owned about 0.08% of Five9 worth $1,694,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Neo Ivy Capital Management acquired a new position in Five9 during the 2nd quarter worth approximately $2,177,000. Scalar Gauge Management LLC acquired a new position in Five9 during the second quarter worth $6,990,000. King Luther Capital Management Corp bought a new position in Five9 in the second quarter valued at $2,062,000. Van Berkom & Associates Inc. increased its stake in Five9 by 52.3% in the 2nd quarter. Van Berkom & Associates Inc. now owns 1,299,483 shares of the software maker’s stock valued at $57,307,000 after buying an additional 446,151 shares during the last quarter. Finally, Lecap Asset Management Ltd. bought a new stake in Five9 during the 3rd quarter worth about $1,714,000. 96.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Five9

In other news, CEO Michael Burkland sold 12,595 shares of Five9 stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $30.27, for a total value of $381,250.65. Following the completion of the sale, the chief executive officer now directly owns 253,488 shares in the company, valued at approximately $7,673,081.76. The trade was a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing 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 stock was sold at an average price of $26.97, for a total value 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 represents a 4.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,493 shares of company stock valued at $1,097,753 in the last quarter. Company insiders own 1.80% of the company’s stock.

Five9 Trading Down 2.7 %

Shares of Five9 stock opened at $37.06 on Tuesday. Five9, Inc. has a 52-week low of $26.60 and a 52-week high of $92.40. 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 has a 50-day moving average of $30.36 and a 200-day moving average of $38.41. The stock has a market cap of $2.79 billion, a PE ratio of -76.46, a PEG ratio of 22.98 and a beta of 0.85.

Analyst Ratings Changes

A number of analysts recently issued reports on FIVN shares. Piper Sandler lifted their target price on Five9 from $35.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Baird R W downgraded Five9 from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Truist Financial restated a “buy” rating and set a $65.00 target price on shares of Five9 in a report on Tuesday, August 27th. DA Davidson increased their price target on shares of Five9 from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Bank of America upgraded shares of Five9 from an “underperform” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Monday, August 5th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $59.22.

Five9 Company 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.