TIAA CREF Investment Management LLC increased its position in Five9, Inc. (NASDAQ:FIVN) by 41.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 337,258 shares of the software maker’s stock after buying an additional 99,369 shares during the quarter. TIAA CREF Investment Management LLC owned about 0.62% of Five9 worth $7,258,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. AXA lifted its holdings in shares of Five9 by 12.7% in the second quarter. AXA now owns 248,293 shares of the software maker’s stock valued at $5,344,000 after buying an additional 28,000 shares during the period. Aperio Group LLC purchased a new stake in shares of Five9 during the second quarter valued at $765,000. Swiss National Bank lifted its holdings in shares of Five9 by 9.0% during the second quarter. Swiss National Bank now owns 70,600 shares of the software maker’s stock valued at $1,519,000 after purchasing an additional 5,800 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Five9 during the second quarter valued at $1,752,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Five9 by 81.3% during the first quarter. Bank of New York Mellon Corp now owns 241,072 shares of the software maker’s stock valued at $3,969,000 after purchasing an additional 108,114 shares during the last quarter. Institutional investors and hedge funds own 91.24% of the company’s stock.
Several brokerages have recently commented on FIVN. Northland Securities reaffirmed a “buy” rating and set a $25.00 target price on shares of Five9 in a report on Wednesday, October 4th. Morgan Stanley reissued an “equal weight” rating and set a $21.00 price target (up from $18.00) on shares of Five9 in a research report on Thursday, July 20th. Canaccord Genuity upped their price target on Five9 from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, September 27th. KeyCorp reissued a “buy” rating and set a $27.00 price target on shares of Five9 in a research report on Friday, September 22nd. Finally, Zacks Investment Research lowered Five9 from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $23.00.
In other Five9 news, EVP Scott Welch sold 3,903 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $20.88, for a total value of $81,494.64. Following the completion of the sale, the executive vice president now directly owns 136,799 shares of the company’s stock, valued at $2,856,363.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Barry Zwarenstein sold 13,024 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $21.25, for a total transaction of $276,760.00. Following the completion of the transaction, the chief financial officer now owns 123,698 shares in the company, valued at approximately $2,628,582.50. The disclosure for this sale can be found here. Insiders have sold a total of 91,385 shares of company stock valued at $1,982,772 over the last ninety days. 9.10% of the stock is currently owned by insiders.
Five9, Inc. (NASDAQ FIVN) opened at 24.78 on Friday. Five9, Inc. has a one year low of $12.58 and a one year high of $26.00. The firm’s market cap is $1.37 billion. The stock’s 50 day moving average price is $23.35 and its 200-day moving average price is $21.54.
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Five9 Company Profile
Five9 Inc (Five9) is a provider of cloud software for contact centers. The Company’s purpose-built Virtual Contact Center (VCC) cloud platform delivers a suite of applications that enable the breadth of contact center-related customer service, sales and marketing functions. The Company’s solution, which consists of its VCC cloud platform and applications, allows simultaneous management and optimization of customer interactions across voice, chat, e-mail, Web, social media and mobile channels, either directly or through its application programming interfaces (APIs).
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