Five9, Inc. (NASDAQ:FIVN) is 272 Capital LP’s 5th Largest Position

272 Capital LP boosted its position in shares of Five9, Inc. (NASDAQ:FIVN) by 3.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 297,880 shares of the software maker’s stock after buying an additional 9,389 shares during the quarter. Five9 accounts for approximately 4.4% of 272 Capital LP’s investment portfolio, making the stock its 5th largest position. 272 Capital LP owned 0.40% of Five9 worth $8,558,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Rhumbline Advisers boosted its stake in shares of Five9 by 0.8% during the second quarter. Rhumbline Advisers now owns 86,000 shares of the software maker’s stock valued at $3,793,000 after purchasing an additional 673 shares during the period. Signaturefd LLC boosted its stake in shares of Five9 by 1,892.3% during the third quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock valued at $30,000 after purchasing an additional 984 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Five9 during the second quarter valued at $57,000. Arizona State Retirement System boosted its stake in shares of Five9 by 8.9% during the second quarter. Arizona State Retirement System now owns 20,673 shares of the software maker’s stock valued at $912,000 after purchasing an additional 1,693 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Five9 by 13.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,069 shares of the software maker’s stock valued at $548,000 after purchasing an additional 2,254 shares during the period. 96.64% of the stock is owned by hedge funds and other institutional investors.

Five9 Trading Up 0.9 %

Shares of NASDAQ FIVN opened at $43.41 on Friday. The business’s 50 day moving average price is $35.27 and its 200 day moving average price is $36.93. Five9, Inc. has a 52 week low of $26.60 and a 52 week high of $85.00. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.32.

Insiders Place Their Bets

In other Five9 news, CEO Michael Burkland sold 12,594 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $41.40, for a total value of $521,391.60. Following the sale, the chief executive officer now owns 240,894 shares in the company, valued at approximately $9,973,011.60. This represents a 4.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Leena Mansharamani sold 1,346 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $41.33, for a total value of $55,630.18. Following the completion of the sale, the chief accounting officer now owns 35,526 shares in the company, valued at approximately $1,468,289.58. This represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,004 shares of company stock worth $1,209,279. Corporate insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on FIVN. Wells Fargo & Company downgraded Five9 from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $55.00 to $40.00 in a report on Tuesday, November 12th. Rosenblatt Securities lifted their price objective on Five9 from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, November 8th. Piper Sandler lifted their price objective on Five9 from $35.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Truist Financial restated a “buy” rating and issued a $65.00 price objective on shares of Five9 in a report on Tuesday, August 27th. Finally, Robert W. Baird boosted their target price on shares of Five9 from $40.00 to $43.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Five9 has a consensus rating of “Moderate Buy” and an average price target of $59.22.

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.