Five9 Inc (FIVN) Stake Lowered by Millennium Management LLC

Millennium Management LLC decreased its position in shares of Five9 Inc (NASDAQ:FIVN) by 25.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 484,393 shares of the software maker’s stock after selling 161,446 shares during the quarter. Millennium Management LLC owned 0.84% of Five9 worth $14,430,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in Five9 by 1.9% in the fourth quarter. BlackRock Inc. now owns 3,721,206 shares of the software maker’s stock worth $92,583,000 after purchasing an additional 70,510 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Five9 by 3.4% in the fourth quarter. Renaissance Technologies LLC now owns 2,388,800 shares of the software maker’s stock worth $59,433,000 after purchasing an additional 77,800 shares during the last quarter. Tremblant Capital Group boosted its holdings in Five9 by 7.5% in the first quarter. Tremblant Capital Group now owns 1,214,591 shares of the software maker’s stock worth $36,183,000 after purchasing an additional 84,629 shares during the last quarter. Loomis Sayles & Co. L P boosted its holdings in Five9 by 43.6% in the first quarter. Loomis Sayles & Co. L P now owns 1,130,995 shares of the software maker’s stock worth $33,692,000 after purchasing an additional 343,399 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Five9 by 2.2% in the first quarter. Northern Trust Corp now owns 713,010 shares of the software maker’s stock worth $21,240,000 after purchasing an additional 15,012 shares during the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

FIVN has been the topic of several research reports. SunTrust Banks raised their target price on shares of Five9 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, May 2nd. Needham & Company LLC raised their target price on shares of Five9 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, May 29th. Morgan Stanley raised their target price on shares of Five9 from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Friday, April 27th. BidaskClub downgraded shares of Five9 from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. Finally, Barclays increased their price target on shares of Five9 from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $29.00.

In other news, CFO Barry Zwarenstein sold 10,000 shares of the firm’s stock in a transaction on Monday, June 25th. The shares were sold at an average price of $34.33, for a total transaction of $343,300.00. Following the sale, the chief financial officer now directly owns 189,710 shares in the company, valued at approximately $6,512,744.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Burkland sold 32,000 shares of the firm’s stock in a transaction on Monday, June 4th. The shares were sold at an average price of $35.61, for a total transaction of $1,139,520.00. The disclosure for this sale can be found here. Insiders sold 100,426 shares of company stock worth $3,557,918 over the last quarter. Insiders own 5.10% of the company’s stock.

Five9 opened at $35.72 on Friday, according to MarketBeat Ratings. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.50. Five9 Inc has a 1-year low of $19.53 and a 1-year high of $39.55.

Five9 (NASDAQ:FIVN) last released its quarterly earnings results on Tuesday, May 1st. The software maker reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.05. Five9 had a negative net margin of 2.04% and a negative return on equity of 13.23%. The business had revenue of $58.91 million for the quarter, compared to the consensus estimate of $55.12 million. The firm’s revenue was up 25.3% compared to the same quarter last year. equities analysts anticipate that Five9 Inc will post -0.14 earnings per share for the current year.

Five9 Profile

Five9, Inc, together with its subsidiaries, provides cloud software for contact centers in the United States and internationally. It offers 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; and acts as a hub for omnichannel engagement between the clients and their customers, which enables them to manage the end-to-end customer experience in a single unified architecture.

Institutional Ownership by Quarter for Five9 (NASDAQ:FIVN)

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