Schwab Charles Investment Management Inc. increased its position in shares of Five9, Inc. (NASDAQ:FIVN) by 15.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 254,284 shares of the software maker’s stock after buying an additional 33,592 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.47% of Five9 worth $4,186,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of FIVN. KCG Holdings Inc. bought a new position in shares of Five9 during the first quarter worth $236,000. Renaissance Technologies LLC increased its position in shares of Five9 by 36.1% in the first quarter. Renaissance Technologies LLC now owns 1,981,500 shares of the software maker’s stock worth $32,615,000 after buying an additional 525,400 shares during the period. Morgan Stanley increased its position in shares of Five9 by 190.7% in the first quarter. Morgan Stanley now owns 317,430 shares of the software maker’s stock worth $5,226,000 after buying an additional 208,236 shares during the period. Balter Liquid Alternatives LLC increased its position in shares of Five9 by 36.7% in the first quarter. Balter Liquid Alternatives LLC now owns 88,593 shares of the software maker’s stock worth $1,458,000 after buying an additional 23,792 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Five9 by 3.4% in the first quarter. Geode Capital Management LLC now owns 332,171 shares of the software maker’s stock worth $5,467,000 after buying an additional 11,064 shares during the period. Institutional investors own 90.15% of the company’s stock.
Five9, Inc. (FIVN) traded up 2.84% on Tuesday, reaching $21.75. 82,537 shares of the company’s stock traded hands. The stock’s market cap is $1.20 billion. The stock has a 50 day moving average price of $21.78 and a 200 day moving average price of $19.51. Five9, Inc. has a 12-month low of $12.58 and a 12-month high of $24.80.
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A number of research analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $26.00 price objective (up previously from $21.00) on shares of Five9 in a research report on Wednesday, August 9th. Canaccord Genuity increased their price objective on shares of Five9 from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Morgan Stanley restated an “equal weight” rating and set a $21.00 price objective (up previously from $18.00) on shares of Five9 in a research report on Thursday, July 20th. Northland Securities set a $25.00 price objective on shares of Five9 and gave the company a “buy” rating in a research report on Wednesday, July 19th. Finally, Zacks Investment Research upgraded shares of Five9 from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $22.29.
In other Five9 news, CEO Michael Burkland sold 12,484 shares of Five9 stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $21.00, for a total transaction of $262,164.00. Following the completion of the sale, the chief executive officer now directly owns 976,091 shares in the company, valued at approximately $20,497,911. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Barry Zwarenstein sold 3,020 shares of Five9 stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $21.01, for a total transaction of $63,450.20. Following the sale, the chief financial officer now owns 126,722 shares of the company’s stock, valued at $2,662,429.22. The disclosure for this sale can be found here. In the last three months, insiders have sold 225,871 shares of company stock worth $4,922,054. 9.10% of the stock is owned by insiders.
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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