State of New Jersey Common Pension Fund D Sells 3,255 Shares of Five9, Inc. (NASDAQ:FIVN)

State of New Jersey Common Pension Fund D lowered its holdings in shares of Five9, Inc. (NASDAQ:FIVN) by 5.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 55,710 shares of the software maker’s stock after selling 3,255 shares during the period. State of New Jersey Common Pension Fund D owned about 0.07% of Five9 worth $2,264,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in FIVN. Signaturefd LLC grew its holdings in Five9 by 1,892.3% in the 3rd quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock worth $30,000 after acquiring an additional 984 shares during the last quarter. Horrell Capital Management Inc. bought a new stake in Five9 in the 3rd quarter worth $3,304,000. Janney Montgomery Scott LLC bought a new stake in Five9 in the 3rd quarter worth $811,000. Harvey Capital Management Inc. bought a new stake in Five9 in the 3rd quarter worth $1,717,000. Finally, WCM Investment Management LLC grew its holdings in Five9 by 14.6% in the 3rd quarter. WCM Investment Management LLC now owns 384,592 shares of the software maker’s stock worth $11,057,000 after acquiring an additional 48,981 shares during the last quarter. Institutional investors own 96.64% of the company’s stock.

Five9 Trading Up 1.0 %

Shares of NASDAQ FIVN opened at $42.09 on Friday. Five9, Inc. has a 1 year low of $26.60 and a 1 year high of $65.71. The stock has a market cap of $3.17 billion, a P/E ratio of -84.18, a price-to-earnings-growth ratio of 9.44 and a beta of 0.93. The firm has a 50-day moving average of $40.57 and a 200 day moving average of $35.89. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85.

Five9 (NASDAQ:FIVN) last issued its quarterly earnings results on Thursday, February 20th. The software maker reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.44). Five9 had a negative net margin of 3.66% and a negative return on equity of 1.53%. The business had revenue of $278.66 million for the quarter, compared to analysts’ expectations of $267.70 million. As a group, sell-side analysts expect that Five9, Inc. will post 0.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Robert W. Baird raised their price target on shares of Five9 from $40.00 to $43.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Truist Financial reissued a “buy” rating and issued a $65.00 price target on shares of Five9 in a report on Tuesday, December 17th. Piper Sandler raised their price target on shares of Five9 from $46.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday. Wells Fargo & Company lowered shares of Five9 from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $55.00 to $40.00 in a report on Tuesday, November 12th. Finally, Morgan Stanley raised their target price on shares of Five9 from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 18th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $59.22.

Insiders Place Their Bets

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

Five9 Company Profile

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.