Tremblant Capital Group purchased a new stake in Five9, Inc. (NASDAQ:FIVN) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 817,722 shares of the software maker’s stock, valued at approximately $19,544,000. Five9 comprises 0.9% of Tremblant Capital Group’s portfolio, making the stock its 24th biggest position. Tremblant Capital Group owned 1.47% of Five9 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Five9 by 25.5% in the 2nd quarter. Vanguard Group Inc. now owns 3,297,927 shares of the software maker’s stock valued at $70,972,000 after purchasing an additional 670,939 shares during the period. Renaissance Technologies LLC grew its position in shares of Five9 by 6.7% in the 2nd quarter. Renaissance Technologies LLC now owns 2,113,600 shares of the software maker’s stock valued at $45,485,000 after purchasing an additional 132,100 shares during the period. Wells Fargo & Company MN grew its position in shares of Five9 by 31.4% in the 3rd quarter. Wells Fargo & Company MN now owns 1,531,252 shares of the software maker’s stock valued at $36,598,000 after purchasing an additional 366,166 shares during the period. Whale Rock Capital Management LLC acquired a new position in shares of Five9 in the 2nd quarter valued at approximately $21,296,000. Finally, FMR LLC grew its position in shares of Five9 by 19.6% in the 2nd quarter. FMR LLC now owns 956,737 shares of the software maker’s stock valued at $20,589,000 after purchasing an additional 156,737 shares during the period. 93.55% of the stock is owned by institutional investors.
In other Five9 news, EVP Daniel P. Burkland sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $22.12, for a total transaction of $221,200.00. Following the completion of the transaction, the executive vice president now owns 146,436 shares of the company’s stock, valued at approximately $3,239,164.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Daniel P. Burkland sold 5,623 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $23.70, for a total value of $133,265.10. Following the transaction, the president now directly owns 130,813 shares of the company’s stock, valued at approximately $3,100,268.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 828,877 shares of company stock valued at $20,048,350. Insiders own 9.10% of the company’s stock.
Five9, Inc. (FIVN) opened at $23.55 on Friday. Five9, Inc. has a 12-month low of $12.58 and a 12-month high of $27.81. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 1.04.
Five9 (NASDAQ:FIVN) last released its quarterly earnings results on Wednesday, November 8th. The software maker reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.05. Five9 had a negative return on equity of 34.14% and a negative net margin of 4.19%. The firm had revenue of $50.08 million during the quarter, compared to the consensus estimate of $48.20 million. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. sell-side analysts anticipate that Five9, Inc. will post -0.18 earnings per share for the current fiscal year.
Several equities analysts recently issued reports on FIVN shares. Zacks Investment Research lowered Five9 from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. Northland Securities reiterated a “buy” rating and issued a $25.00 price objective on shares of Five9 in a research report on Friday, September 1st. KeyCorp reiterated a “buy” rating and issued a $27.00 price objective on shares of Five9 in a research report on Friday, September 22nd. Canaccord Genuity boosted their price objective on Five9 from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, September 27th. Finally, Morgan Stanley boosted their price objective on Five9 from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Thursday, November 9th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $26.43.
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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