Teachers Retirement System of The State of Kentucky Reduces Stake in Five9, Inc. (FIVN)

Teachers Retirement System of The State of Kentucky lessened its holdings in shares of Five9, Inc. (NASDAQ:FIVN) by 20.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,608 shares of the software maker’s stock after selling 14,405 shares during the period. Teachers Retirement System of The State of Kentucky owned 0.10% of Five9 worth $1,175,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Five9 by 25.5% during the 2nd quarter. Vanguard Group Inc. now owns 3,297,927 shares of the software maker’s stock valued at $70,972,000 after buying an additional 670,939 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Five9 by 6.7% during the 2nd quarter. Renaissance Technologies LLC now owns 2,113,600 shares of the software maker’s stock valued at $45,485,000 after buying an additional 132,100 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Five9 by 69.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,703,148 shares of the software maker’s stock valued at $36,650,000 after buying an additional 697,949 shares in the last quarter. Scge Management L.P. bought a new stake in shares of Five9 during the 1st quarter valued at $18,702,000. Finally, FMR LLC boosted its holdings in shares of Five9 by 19.6% during the 2nd quarter. FMR LLC now owns 956,737 shares of the software maker’s stock valued at $20,589,000 after buying an additional 156,737 shares in the last quarter. Hedge funds and other institutional investors own 91.24% of the company’s stock.

A number of analysts have recently commented on the stock. Northland Securities restated a “buy” rating and set a $25.00 target price on shares of Five9 in a report on Wednesday, October 4th. Canaccord Genuity boosted their target price on shares of Five9 from $25.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, September 27th. KeyCorp restated a “buy” rating and set a $27.00 target price on shares of Five9 in a report on Friday, September 22nd. Zacks Investment Research cut shares of Five9 from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $26.00 target price (up previously from $21.00) on shares of Five9 in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $23.00.

Shares of Five9, Inc. (NASDAQ FIVN) opened at 25.54 on Monday. Five9, Inc. has a one year low of $12.58 and a one year high of $25.72. The company’s market cap is $1.41 billion. The stock’s 50 day moving average is $22.22 and its 200-day moving average is $21.02.

TRADEMARK VIOLATION WARNING: This news story was first published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this news story on another site, it was copied illegally and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this news story can be read at https://ledgergazette.com/2017/10/09/teachers-retirement-system-of-the-state-of-kentucky-reduces-stake-in-five9-inc-fivn.html.

In other news, EVP Daniel P. Burkland sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $22.35, for a total transaction of $223,500.00. Following the transaction, the executive vice president now owns 173,498 shares in the company, valued at $3,877,680.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Barry Zwarenstein sold 12,622 shares of the firm’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $22.44, for a total value of $283,237.68. Following the transaction, the chief financial officer now owns 129,742 shares in the company, valued at approximately $2,911,410.48. The disclosure for this sale can be found Zacks Investment Research cut shares of Five9 from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $26.00 target price (up previously from $21.00) on shares of Five9 in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $23.00.

Shares of Five9, Inc. (NASDAQ FIVN) opened at 25.54 on Monday. Five9, Inc. has a one year low of $12.58 and a one year high of $25.72. The company’s market cap is $1.41 billion. The stock’s 50 day moving average is $22.22 and its 200-day moving average is $21.02.

TRADEMARK VIOLATION WARNING: This news story was first published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this news story on another site, it was copied illegally and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this news story can be read at https://ledgergazette.com/2017/10/09/teachers-retirement-system-of-the-state-of-kentucky-reduces-stake-in-five9-inc-fivn.html.

In other news, EVP Daniel P. Burkland sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $22.35, for a total transaction of $223,500.00. Following the transaction, the executive vice president now owns 173,498 shares in the company, valued at $3,877,680.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Barry Zwarenstein sold 12,622 shares of the firm’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $22.44, for a total value of $283,237.68. Following the transaction, the chief financial officer now owns 129,742 shares in the company, valued at approximately $2,911,410.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,007 shares of company stock worth $2,489,510. Insiders own 9.10% of the company’s stock.

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).

Institutional Ownership by Quarter for Five9 (NASDAQ:FIVN)

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