Sapphire Ventures L.L.C. continued to hold its position in shares of Five9, Inc. (NASDAQ:FIVN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,011,286 shares of the software maker’s stock at the end of the second quarter. Five9 comprises approximately 18.8% of Sapphire Ventures L.L.C.’s portfolio, making the stock its 3rd largest position. Sapphire Ventures L.L.C. owned 1.86% of Five9 worth $21,763,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Five9 by 28.2% in the first quarter. Vanguard Group Inc. now owns 2,626,988 shares of the software maker’s stock worth $43,240,000 after buying an additional 577,738 shares during the period. Renaissance Technologies LLC boosted 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. Russell Investments Group Ltd. boosted its position in shares of Five9 by 69.4% in the second quarter. Russell Investments Group Ltd. now owns 1,703,148 shares of the software maker’s stock worth $36,650,000 after buying an additional 697,949 shares during the period. Wells Fargo & Company MN boosted its position in shares of Five9 by 124.1% in the first quarter. Wells Fargo & Company MN now owns 1,400,229 shares of the software maker’s stock worth $23,048,000 after buying an additional 775,345 shares during the period. Finally, Hood River Capital Management LLC boosted its position in shares of Five9 by 39.6% in the first quarter. Hood River Capital Management LLC now owns 1,191,705 shares of the software maker’s stock worth $19,615,000 after buying an additional 338,104 shares during the period. 90.15% of the stock is owned by institutional investors.
Shares of Five9, Inc. (FIVN) traded down 0.10% on Friday, reaching $20.99. 42,683 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $21.57 and a 200-day moving average price of $19.74. Five9, Inc. has a 12-month low of $12.58 and a 12-month high of $24.80. The company’s market cap is $1.16 billion.
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FIVN has been the subject of a number of recent research reports. Zacks Investment Research cut shares of Five9 from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Morgan Stanley reissued an “equal weight” rating and set a $21.00 price target (up from $18.00) on shares of Five9 in a research report on Thursday, July 20th. Northland Securities set a $25.00 price target on shares of Five9 and gave the company a “buy” rating in a research report on Wednesday, July 19th. Needham & Company LLC reissued a “buy” rating and set a $26.00 price target (up from $21.00) on shares of Five9 in a research report on Wednesday, August 9th. Finally, Canaccord Genuity reissued a “buy” rating and set a $20.00 price target on shares of Five9 in a research report on Monday, May 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. Five9 has an average rating of “Buy” and an average price target of $22.29.
In other news, EVP Gaurav Passi sold 3,750 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $22.12, for a total value of $82,950.00. Following the completion of the sale, the executive vice president now directly owns 126,156 shares of the company’s stock, valued at $2,790,570.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Barry Zwarenstein sold 12,622 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 129,742 shares of the company’s stock, valued at $2,911,410.48. The disclosure for this sale can be found here. Insiders sold 97,034 shares of company stock valued at $2,133,490 over the last three months. Corporate 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).
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