Five9, Inc. (NASDAQ:FIVN) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Five9, Inc. (NASDAQ:FIVN) by 642.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 217,302 shares of the software maker’s stock after acquiring an additional 188,043 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.29% of Five9 worth $6,243,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Five9 by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 7,437,575 shares of the software maker’s stock worth $461,948,000 after purchasing an additional 150,786 shares during the last quarter. Sylebra Capital LLC lifted its stake in shares of Five9 by 28.4% during the second quarter. Sylebra Capital LLC now owns 3,013,789 shares of the software maker’s stock worth $132,908,000 after buying an additional 666,681 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Five9 by 38.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,457,086 shares of the software maker’s stock valued at $64,257,000 after buying an additional 406,188 shares during the last quarter. Van Berkom & Associates Inc. increased its position in shares of Five9 by 52.3% in the 2nd quarter. Van Berkom & Associates Inc. now owns 1,299,483 shares of the software maker’s stock valued at $57,307,000 after acquiring an additional 446,151 shares during the period. Finally, Point72 Asset Management L.P. raised its stake in Five9 by 347.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 753,127 shares of the software maker’s stock worth $33,213,000 after acquiring an additional 584,800 shares during the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

Insider Buying and Selling

In related news, COO Andy Dignan sold 4,245 shares of Five9 stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $30.26, for a total value of $128,453.70. Following the sale, the chief operating officer now directly owns 119,927 shares in the company, valued at approximately $3,628,991.02. The trade was a 3.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Barry Zwarenstein sold 4,408 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $26.97, for a total value of $118,883.76. Following the transaction, the chief financial officer now directly owns 101,732 shares of the company’s stock, valued at $2,743,712.04. The trade was a 4.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,493 shares of company stock valued at $1,097,753. 1.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wells Fargo & Company downgraded Five9 from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $55.00 to $40.00 in a research note on Tuesday, November 12th. Piper Sandler upped their target price on Five9 from $35.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Bank of America raised shares of Five9 from an “underperform” rating to a “buy” rating and set a $63.00 price target for the company in a research report on Monday, August 5th. Barclays dropped their price objective on shares of Five9 from $75.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Finally, Needham & Company LLC reissued a “buy” rating and set a $48.00 target price on shares of Five9 in a report on Friday, November 8th. Six research analysts have rated the stock with a hold rating and fourteen have issued 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 price target of $59.22.

Five9 Stock Up 4.8 %

Five9 stock opened at $40.32 on Friday. Five9, Inc. has a 12 month low of $26.60 and a 12 month high of $92.40. The stock has a market capitalization of $3.03 billion, a PE ratio of -80.64, a price-to-earnings-growth ratio of 22.74 and a beta of 0.85. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85. The business has a 50 day simple moving average of $31.19 and a 200-day simple moving average of $38.13.

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.