Lord Abbett & CO. LLC lowered its holdings in Five9, Inc. (NASDAQ:FIVN) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,534,745 shares of the software maker’s stock after selling 19,394 shares during the quarter. Five9 accounts for 0.7% of Lord Abbett & CO. LLC’s holdings, making the stock its 13th biggest position. Lord Abbett & CO. LLC owned approximately 2.33% of Five9 worth $267,660,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in FIVN. State of Alaska Department of Revenue purchased a new position in Five9 during the fourth quarter valued at $30,000. Perigon Wealth Management LLC purchased a new position in Five9 during the fourth quarter valued at $32,000. Phoenix Wealth Advisors purchased a new position in Five9 during the fourth quarter valued at $48,000. Altshuler Shaham Ltd lifted its holdings in Five9 by 24.0% during the third quarter. Altshuler Shaham Ltd now owns 393 shares of the software maker’s stock valued at $51,000 after purchasing an additional 76 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its holdings in Five9 by 23.5% during the third quarter. Valeo Financial Advisors LLC now owns 473 shares of the software maker’s stock valued at $61,000 after purchasing an additional 90 shares in the last quarter. Institutional investors own 97.93% of the company’s stock.
In other news, CFO Barry Zwarenstein sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of $181.91, for a total transaction of $2,273,875.00. Following the completion of the sale, the chief financial officer now owns 89,298 shares in the company, valued at approximately $16,244,199.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Daniel P. Burkland sold 1,149 shares of the business’s stock in a transaction that occurred on Thursday, December 3rd. The stock was sold at an average price of $156.81, for a total transaction of $180,174.69. The disclosure for this sale can be found here. Insiders sold 86,208 shares of company stock valued at $13,999,208 in the last quarter. 3.00% of the stock is owned by insiders.
FIVN has been the topic of several recent analyst reports. Northland Securities increased their price objective on shares of Five9 from $163.00 to $200.00 and gave the company an “outperform” rating in a report on Tuesday. Barclays increased their price objective on shares of Five9 from $182.00 to $186.00 and gave the company an “equal weight” rating in a report on Tuesday. BTIG Research increased their price objective on shares of Five9 from $175.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, January 19th. Needham & Company LLC raised their price target on shares of Five9 from $165.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, January 14th. Finally, Piper Sandler raised their price target on shares of Five9 from $206.00 to $212.00 and gave the stock an “overweight” rating in a research note on Tuesday. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Five9 has an average rating of “Buy” and a consensus price target of $186.63.
Shares of FIVN stock traded down $6.59 during trading on Tuesday, reaching $160.19. The company’s stock had a trading volume of 8,905 shares, compared to its average volume of 688,478. The company has a debt-to-equity ratio of 2.46, a current ratio of 9.32 and a quick ratio of 9.32. The company has a market capitalization of $10.57 billion, a price-to-earnings ratio of -335.05 and a beta of 0.53. The stock’s 50-day moving average price is $174.48 and its 200 day moving average price is $149.94. Five9, Inc. has a 1-year low of $52.51 and a 1-year high of $194.04.
Five9 (NASDAQ:FIVN) last announced its quarterly earnings data on Monday, February 22nd. The software maker reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.11. Five9 had a negative net margin of 8.54% and a positive return on equity of 0.40%. The firm had revenue of $127.89 million during the quarter, compared to analysts’ expectations of $115.27 million. During the same quarter in the previous year, the business posted $0.27 earnings per share. The business’s quarterly revenue was up 38.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Five9, Inc. will post -0.09 EPS for the current fiscal year.
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 digital engagement channels between the clients and their customers, which enables them to manage the end-to-end customer experience in a single unified architecture.
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