Cresset Asset Management LLC Sells 3,662 Shares of Five9, Inc. (NASDAQ:FIVN)

Cresset Asset Management LLC trimmed its holdings in shares of Five9, Inc. (NASDAQ:FIVN) by 38.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,780 shares of the software maker’s stock after selling 3,662 shares during the period. Cresset Asset Management LLC’s holdings in Five9 were worth $235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Gagnon Securities LLC lifted its position in shares of Five9 by 10.4% in the 4th quarter. Gagnon Securities LLC now owns 366,096 shares of the software maker’s stock worth $14,878,000 after purchasing an additional 34,597 shares during the period. Barclays PLC raised its stake in Five9 by 215.8% in the third quarter. Barclays PLC now owns 242,187 shares of the software maker’s stock worth $6,956,000 after buying an additional 165,487 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in Five9 during the fourth quarter worth $268,000. Janney Montgomery Scott LLC boosted its position in Five9 by 25.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 35,372 shares of the software maker’s stock valued at $1,438,000 after acquiring an additional 7,140 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its position in Five9 by 7,305.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,333 shares of the software maker’s stock valued at $54,000 after acquiring an additional 1,315 shares in the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Analyst Ratings Changes

FIVN has been the subject of several recent research reports. Morgan Stanley reduced their price target on Five9 from $48.00 to $28.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Wells Fargo & Company reduced their target price on shares of Five9 from $45.00 to $23.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Barclays decreased their price target on shares of Five9 from $60.00 to $33.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. William Blair reaffirmed an “outperform” rating on shares of Five9 in a research report on Thursday, March 13th. Finally, Mizuho decreased their target price on shares of Five9 from $55.00 to $42.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Five9 presently has an average rating of “Moderate Buy” and a consensus target price of $43.58.

Five9 Stock Up 1.4%

Five9 stock opened at $28.05 on Friday. The business’s 50-day simple moving average is $26.05 and its two-hundred day simple moving average is $34.65. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.85 and a current ratio of 1.85. The company has a market cap of $2.14 billion, a PE ratio of -140.24, a PEG ratio of 9.41 and a beta of 1.23. Five9, Inc. has a fifty-two week low of $21.04 and a fifty-two week high of $53.90.

Five9 (NASDAQ:FIVN) last issued its earnings results on Thursday, May 1st. The software maker reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. Five9 had a positive return on equity of 3.62% and a negative net margin of 1.23%. The firm had revenue of $279.71 million for the quarter, compared to analyst estimates of $272.26 million. During the same quarter in the prior year, the firm earned $0.48 earnings per share. Five9’s revenue for the quarter was up 13.2% on a year-over-year basis. Equities analysts anticipate that Five9, Inc. will post 0.28 EPS for the current year.

Insider Activity

In related news, CAO Leena Mansharamani sold 1,517 shares of Five9 stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $33.23, for a total transaction of $50,409.91. Following the completion of the transaction, the chief accounting officer now directly owns 48,300 shares in the company, valued at approximately $1,605,009. This trade represents a 3.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Andy Dignan sold 2,840 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $33.23, for a total value of $94,373.20. Following the completion of the sale, the chief operating officer now owns 194,201 shares in the company, valued at approximately $6,453,299.23. This represents a 1.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,574 shares of company stock valued at $1,004,346 in the last quarter. 1.60% of the stock is currently owned by company insiders.

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.