Five9, Inc. (NASDAQ:FIVN) Stake Cut by Brown Capital Management LLC

Brown Capital Management LLC lessened its stake in Five9, Inc. (NASDAQ:FIVN) by 75.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 9,278 shares of the software maker’s stock after selling 27,926 shares during the quarter. Brown Capital Management LLC’s holdings in Five9 were worth $267,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FIVN. Signaturefd LLC grew its stake in shares of Five9 by 1,892.3% in the 3rd quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock valued at $30,000 after buying an additional 984 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Five9 during the second quarter valued at approximately $57,000. Quest Partners LLC acquired a new stake in shares of Five9 in the third quarter worth $95,000. nVerses Capital LLC acquired a new position in Five9 in the 3rd quarter valued at $141,000. Finally, Quent Capital LLC lifted its position in Five9 by 8.7% during the 2nd quarter. Quent Capital LLC now owns 4,379 shares of the software maker’s stock worth $193,000 after acquiring an additional 352 shares during the last quarter. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FIVN. BTIG Research lowered their target price on Five9 from $100.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Baird R W cut Five9 from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. StockNews.com upgraded Five9 from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. DA Davidson increased their price objective on shares of Five9 from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Piper Sandler lifted their target price on shares of Five9 from $35.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Five9 currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.22.

Insider Activity at Five9

In other news, CRO Daniel P. Burkland sold 2,605 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $33.41, for a total value of $87,033.05. Following the completion of the sale, the executive now directly owns 132,554 shares of the company’s stock, valued at $4,428,629.14. This represents a 1.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Barry Zwarenstein sold 4,408 shares of Five9 stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $26.97, for a total transaction of $118,883.76. Following the transaction, the chief financial officer now directly owns 101,732 shares in the company, 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. Insiders have sold a total of 36,493 shares of company stock worth $1,097,753 over the last 90 days. Insiders own 1.80% of the company’s stock.

Five9 Stock Up 0.8 %

NASDAQ:FIVN opened at $38.00 on Thursday. The stock’s fifty day moving average price is $30.98 and its two-hundred day moving average price is $38.12. The company has a market cap of $2.86 billion, a price-to-earnings ratio of -76.00, a P/E/G ratio of 22.74 and a beta of 0.85. Five9, Inc. has a 52-week low of $26.60 and a 52-week high of $92.40. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.85 and a current ratio of 1.85.

Five9 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.