Five9, Inc. (NASDAQ:FIVN) Holdings Lowered by Edgestream Partners L.P.

Edgestream Partners L.P. cut its stake in Five9, Inc. (NASDAQ:FIVN) by 30.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,843 shares of the software maker’s stock after selling 19,700 shares during the period. Edgestream Partners L.P. owned approximately 0.06% of Five9 worth $1,317,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. FMR LLC lifted its position in Five9 by 2.4% in the third quarter. FMR LLC now owns 11,159,760 shares of the software maker’s stock worth $320,620,000 after purchasing an additional 259,820 shares during the period. Sylebra Capital LLC boosted its stake in Five9 by 28.4% during the second quarter. Sylebra Capital LLC now owns 3,013,789 shares of the software maker’s stock valued at $132,908,000 after buying an additional 666,681 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Five9 by 14.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,667,922 shares of the software maker’s stock worth $47,919,000 after acquiring an additional 210,836 shares during the period. Van Berkom & Associates Inc. raised its position in Five9 by 52.3% in the second quarter. Van Berkom & Associates Inc. now owns 1,299,483 shares of the software maker’s stock worth $57,307,000 after acquiring an additional 446,151 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in Five9 by 14.9% in the 3rd quarter. Fisher Asset Management LLC now owns 761,966 shares of the software maker’s stock valued at $21,891,000 after acquiring an additional 98,543 shares during the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

Insider Activity at Five9

In other Five9 news, CFO Barry Zwarenstein sold 4,408 shares of the firm’s 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 completion of the sale, the chief financial officer now owns 101,732 shares in the company, valued at approximately $2,743,712.04. This trade represents a 4.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by corporate insiders.

Five9 Trading Down 0.3 %

Shares of Five9 stock opened at $41.46 on Wednesday. The company has a market cap of $3.12 billion, a price-to-earnings ratio of -82.92, a PEG ratio of 25.09 and a beta of 0.92. Five9, Inc. has a 1 year low of $26.60 and a 1 year high of $92.40. The company’s fifty day simple moving average is $33.27 and its 200-day simple moving average is $37.18. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.32.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on FIVN shares. Northland Securities dropped their target price on shares of Five9 from $95.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. StockNews.com raised Five9 from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Piper Sandler lifted their target price on shares of Five9 from $35.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Truist Financial reiterated a “buy” rating and set a $65.00 price objective on shares of Five9 in a research report on Tuesday, August 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 target price on shares of Five9 in a research report on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.