Scalar Gauge Management LLC grew its holdings in shares of Five9, Inc. (NASDAQ:FIVN – Free Report) by 191.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 462,291 shares of the software maker’s stock after buying an additional 303,791 shares during the period. Five9 accounts for about 7.1% of Scalar Gauge Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Scalar Gauge Management LLC’s holdings in Five9 were worth $13,282,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in FIVN. Sylebra Capital LLC increased its position in Five9 by 28.4% in the 2nd quarter. Sylebra Capital LLC now owns 3,013,789 shares of the software maker’s stock valued at $132,908,000 after acquiring an additional 666,681 shares during the period. Point72 Asset Management L.P. grew its stake in shares of Five9 by 347.4% in the second quarter. Point72 Asset Management L.P. now owns 753,127 shares of the software maker’s stock worth $33,213,000 after purchasing an additional 584,800 shares in the last quarter. Van Berkom & Associates Inc. increased its holdings in shares of Five9 by 52.3% during the second quarter. Van Berkom & Associates Inc. now owns 1,299,483 shares of the software maker’s stock valued at $57,307,000 after purchasing an additional 446,151 shares during the period. Massachusetts Financial Services Co. MA raised its stake 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 purchasing an additional 406,188 shares in the last quarter. Finally, Loomis Sayles & Co. L P acquired a new stake in Five9 in the third quarter worth about $11,211,000. 96.64% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
FIVN has been the topic of several research analyst reports. Piper Sandler raised their target price on shares of Five9 from $35.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Robert W. Baird raised their price objective on shares of Five9 from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Needham & Company LLC restated a “buy” rating and issued a $48.00 target price on shares of Five9 in a research report on Friday, November 8th. BTIG Research lowered their price target on Five9 from $100.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Wells Fargo & Company lowered Five9 from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $55.00 to $40.00 in a report on Tuesday, November 12th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Five9 has a consensus rating of “Moderate Buy” and an average price target of $59.22.
Insider Activity
In other news, CFO Barry Zwarenstein sold 4,408 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $26.97, for a total value of $118,883.76. Following the completion of the sale, the chief financial officer now directly owns 101,732 shares of the company’s stock, valued at approximately $2,743,712.04. This represents a 4.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Panos Kozanian sold 7,617 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $30.02, for a total transaction of $228,662.34. Following the transaction, the executive vice president now directly owns 76,628 shares in the company, valued at $2,300,372.56. This trade represents a 9.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,888 shares of company stock valued at $1,010,720 over the last 90 days. 1.80% of the stock is currently owned by company insiders.
Five9 Price Performance
NASDAQ FIVN opened at $41.28 on Friday. 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 stock has a market capitalization of $3.10 billion, a PE ratio of -82.56, a price-to-earnings-growth ratio of 25.11 and a beta of 0.85. Five9, Inc. has a 12-month low of $26.60 and a 12-month high of $92.40. The company has a 50 day moving average price of $32.72 and a two-hundred day moving average price of $37.57.
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.
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