KLP Kapitalforvaltning AS Takes Position in Five9, Inc. (NASDAQ:FIVN)

KLP Kapitalforvaltning AS acquired a new position in shares of Five9, Inc. (NASDAQ:FIVN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 15,400 shares of the software maker’s stock, valued at approximately $626,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Gagnon Securities LLC raised its stake in shares of Five9 by 10.4% during the fourth quarter. Gagnon Securities LLC now owns 366,096 shares of the software maker’s stock valued at $14,878,000 after acquiring an additional 34,597 shares during the last quarter. Vestcor Inc increased its holdings in Five9 by 42.9% in the third quarter. Vestcor Inc now owns 50,000 shares of the software maker’s stock valued at $1,437,000 after purchasing an additional 15,000 shares during the period. Barclays PLC raised its position in Five9 by 215.8% during the 3rd quarter. Barclays PLC now owns 242,187 shares of the software maker’s stock worth $6,956,000 after purchasing an additional 165,487 shares during the last quarter. Principal Financial Group Inc. acquired a new position in Five9 during the 4th quarter worth about $268,000. Finally, Bullseye Asset Management LLC lifted its holdings in Five9 by 13.7% during the 3rd quarter. Bullseye Asset Management LLC now owns 103,768 shares of the software maker’s stock worth $2,981,000 after buying an additional 12,500 shares during the period. Institutional investors and hedge funds own 96.64% of the company’s stock.

Wall Street Analysts Forecast Growth

FIVN has been the topic of several analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $58.00 target price on shares of Five9 in a report on Thursday, March 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $65.00 price objective on shares of Five9 in a research report on Wednesday, March 19th. Morgan Stanley boosted their target price on shares of Five9 from $40.00 to $46.00 and gave the company an “equal weight” rating in a report on Wednesday, December 18th. Barclays increased their price target on Five9 from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, William Blair reissued an “outperform” rating on shares of Five9 in a research note on Thursday, March 13th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.76.

Insider Activity

In related news, COO Andy Dignan sold 2,840 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $33.23, for a total transaction of $94,373.20. Following the sale, the chief operating officer now directly owns 194,201 shares in the company, valued at approximately $6,453,299.23. The trade was a 1.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Panos Kozanian sold 7,619 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $33.40, for a total transaction of $254,474.60. Following the completion of the sale, the executive vice president now directly owns 126,359 shares in the company, valued at approximately $4,220,390.60. The trade was a 5.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,874 shares of company stock valued at $985,446 in the last ninety days. 1.80% of the stock is currently owned by insiders.

Five9 Price Performance

Shares of NASDAQ:FIVN opened at $27.46 on Thursday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.32. The stock has a market cap of $2.08 billion, a PE ratio of -137.29, a price-to-earnings-growth ratio of 9.41 and a beta of 1.29. The stock’s fifty day simple moving average is $35.81 and its two-hundred day simple moving average is $35.77. Five9, Inc. has a 1-year low of $26.34 and a 1-year high of $63.30.

Five9 (NASDAQ:FIVN) last released its quarterly earnings results on Thursday, February 20th. The software maker reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.44). The firm had revenue of $278.66 million for the quarter, compared to the consensus estimate of $267.70 million. Five9 had a negative net margin of 1.23% and a positive return on equity of 3.62%. As a group, analysts forecast that Five9, Inc. will post 0.28 EPS for the current fiscal year.

About Five9

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.