Five9 Inc (FIVN) Stake Lessened by Penn Capital Management Co. Inc.

Penn Capital Management Co. Inc. cut its stake in Five9 Inc (NASDAQ:FIVN) by 16.6% in the 1st quarter, HoldingsChannel reports. The fund owned 190,476 shares of the software maker’s stock after selling 37,860 shares during the period. Five9 accounts for approximately 1.2% of Penn Capital Management Co. Inc.’s holdings, making the stock its 14th largest holding. Penn Capital Management Co. Inc.’s holdings in Five9 were worth $12,797,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Flinton Capital Management LLC bought a new position in shares of Five9 in the fourth quarter valued at approximately $30,000. Winslow Evans & Crocker Inc. bought a new position in shares of Five9 in the first quarter valued at approximately $30,000. Pearl River Capital LLC bought a new position in shares of Five9 in the first quarter valued at approximately $32,000. Mckinley Capital Management LLC Delaware bought a new position in shares of Five9 in the fourth quarter valued at approximately $34,000. Finally, Private Capital Group LLC boosted its holdings in shares of Five9 by 263.4% in the fourth quarter. Private Capital Group LLC now owns 1,061 shares of the software maker’s stock valued at $46,000 after acquiring an additional 769 shares in the last quarter. Institutional investors and hedge funds own 99.57% of the company’s stock.

In other Five9 news, Director Michael Burkland sold 1,700 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $56.01, for a total value of $95,217.00. Following the completion of the sale, the director now owns 82,171 shares in the company, valued at approximately $4,602,397.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Daniel P. Burkland sold 15,000 shares of the stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $51.93, for a total transaction of $778,950.00. Following the completion of the sale, the president now owns 159,869 shares of the company’s stock, valued at approximately $8,301,997.17. The disclosure for this sale can be found here. Insiders sold a total of 636,332 shares of company stock valued at $32,865,472 in the last ninety days. Company insiders own 4.90% of the company’s stock.

Five9 stock traded up $0.21 during midday trading on Wednesday, reaching $48.66. The stock had a trading volume of 37,133 shares, compared to its average volume of 633,677. Five9 Inc has a twelve month low of $29.71 and a twelve month high of $57.90. The company has a debt-to-equity ratio of 1.37, a quick ratio of 6.12 and a current ratio of 6.12. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 324.40 and a beta of 0.59.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings data on Wednesday, May 1st. The software maker reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.05. Five9 had a negative net margin of 0.56% and a positive return on equity of 8.35%. The firm had revenue of $74.54 million during the quarter, compared to analyst estimates of $70.81 million. During the same quarter last year, the business posted $0.08 EPS. The company’s revenue was up 26.5% on a year-over-year basis. Equities analysts forecast that Five9 Inc will post -0.03 earnings per share for the current fiscal year.

FIVN has been the subject of several recent analyst reports. Morgan Stanley set a $58.00 price objective on shares of Five9 and gave the company a “buy” rating in a report on Wednesday, February 20th. Needham & Company LLC raised their target price on shares of Five9 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, February 20th. Craig Hallum reduced their target price on shares of Five9 from $64.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, February 20th. Canaccord Genuity raised their target price on shares of Five9 from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, February 20th. They noted that the move was a valuation call. Finally, SunTrust Banks raised their target price on shares of Five9 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, February 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $53.54.

ILLEGAL ACTIVITY WARNING: This piece of content was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece of content on another website, it was illegally copied and republished in violation of US and international copyright & trademark laws. The legal version of this piece of content can be viewed at https://www.dispatchtribunal.com/2019/05/15/five9-inc-fivn-stake-lessened-by-penn-capital-management-co-inc.html.

About Five9

Five9, Inc, together with its subsidiaries, provides cloud software for contact centers in the United States and internationally. The company 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.

Read More: Balanced Fund

Want to see what other hedge funds are holding FIVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Five9 Inc (NASDAQ:FIVN).

Institutional Ownership by Quarter for Five9 (NASDAQ:FIVN)

Receive News & Ratings for Five9 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Five9 and related companies with MarketBeat.com's FREE daily email newsletter.