Five9, Inc. (NASDAQ:FIVN) is Legion Partners Asset Management LLC’s 4th Largest Position

Legion Partners Asset Management LLC trimmed its position in shares of Five9, Inc. (NASDAQ:FIVN) by 8.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 591,685 shares of the software maker’s stock after selling 54,000 shares during the quarter. Five9 accounts for approximately 16.1% of Legion Partners Asset Management LLC’s investment portfolio, making the stock its 4th biggest position. Legion Partners Asset Management LLC owned 0.79% of Five9 worth $24,046,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Jefferies Financial Group Inc. purchased a new position in Five9 during the 4th quarter valued at about $1,048,000. G2 Investment Partners Management LLC purchased a new position in shares of Five9 in the 4th quarter valued at about $3,339,000. Ensign Peak Advisors Inc boosted its stake in shares of Five9 by 10.5% in the 4th quarter. Ensign Peak Advisors Inc now owns 25,285 shares of the software maker’s stock valued at $1,028,000 after buying an additional 2,400 shares during the period. Diker Management LLC boosted its stake in shares of Five9 by 200.6% in the 4th quarter. Diker Management LLC now owns 119,880 shares of the software maker’s stock valued at $4,872,000 after buying an additional 80,000 shares during the period. Finally, Divisadero Street Capital Management LP purchased a new position in shares of Five9 in the 4th quarter valued at about $4,064,000. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Five9

In related news, CAO Leena Mansharamani sold 1,135 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $30.20, for a total value of $34,277.00. Following the sale, the chief accounting officer now directly owns 47,165 shares in the company, valued at $1,424,383. This trade represents a 2.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Barry Zwarenstein sold 2,468 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $33.23, for a total value of $82,011.64. Following the completion of the sale, the chief financial officer now owns 92,583 shares in the company, valued at approximately $3,076,533.09. This represents a 2.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,574 shares of company stock worth $1,004,346 in the last three months. 1.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on FIVN. Needham & Company LLC decreased their target price on Five9 from $52.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Cantor Fitzgerald reissued an “overweight” rating on shares of Five9 in a report on Wednesday, April 2nd. Royal Bank of Canada upped their price objective on Five9 from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Wells Fargo & Company reduced their price objective on Five9 from $45.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Finally, Rosenblatt Securities restated a “buy” rating and issued a $36.00 price objective on shares of Five9 in a report on Friday, May 2nd. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.58.

Five9 Trading Up 0.8%

NASDAQ:FIVN opened at $26.56 on Monday. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32. The business’s 50 day moving average is $26.44 and its two-hundred day moving average is $34.74. Five9, Inc. has a 52 week low of $21.04 and a 52 week high of $55.45. The company has a market cap of $2.03 billion, a PE ratio of -132.79, a P/E/G ratio of 9.41 and a beta of 1.23.

Five9 (NASDAQ:FIVN) last announced its quarterly earnings results on Thursday, May 1st. The software maker reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.14. The business had revenue of $279.71 million for the quarter, compared to the consensus estimate of $272.26 million. Five9 had a positive return on equity of 3.62% and a negative net margin of 1.23%. The business’s revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the business posted $0.48 EPS. On average, analysts predict that Five9, Inc. will post 0.28 EPS for the current year.

About Five9

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States, India, and internationally. It offers a 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.