Five9, Inc. (NASDAQ:FIVN) Shares Sold by Harvey Capital Management Inc.

Harvey Capital Management Inc. lessened its stake in shares of Five9, Inc. (NASDAQ:FIVN) by 19.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,410 shares of the software maker’s stock after selling 11,366 shares during the quarter. Harvey Capital Management Inc.’s holdings in Five9 were worth $1,967,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Signaturefd LLC increased its stake in 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 during the period. KBC Group NV increased its stake in shares of Five9 by 49.2% during the fourth quarter. KBC Group NV now owns 3,373 shares of the software maker’s stock worth $137,000 after acquiring an additional 1,113 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Five9 by 13.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,069 shares of the software maker’s stock worth $548,000 after purchasing an additional 2,254 shares in the last quarter. FNY Investment Advisers LLC lifted its position in Five9 by 324.8% in the fourth quarter. FNY Investment Advisers LLC now owns 3,250 shares of the software maker’s stock valued at $132,000 after purchasing an additional 2,485 shares during the period. Finally, Ameritas Advisory Services LLC boosted its holdings in Five9 by 40.5% in the 4th quarter. Ameritas Advisory Services LLC now owns 11,005 shares of the software maker’s stock valued at $447,000 after purchasing an additional 3,173 shares in the last quarter. 96.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Five9 news, CEO Michael Burkland sold 12,594 shares of Five9 stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $41.40, for a total value of $521,391.60. Following the completion of the sale, the chief executive officer now directly owns 240,894 shares of the company’s stock, valued at approximately $9,973,011.60. The trade was a 4.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Panos Kozanian sold 7,619 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $42.09, for a total value of $320,683.71. Following the completion of the transaction, the executive vice president now owns 69,009 shares of the company’s stock, valued at $2,904,588.81. This trade represents a 9.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,004 shares of company stock worth $1,209,279. 1.80% of the stock is owned by corporate insiders.

Five9 Price Performance

NASDAQ FIVN opened at $40.65 on Wednesday. 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, Inc. has a fifty-two week low of $26.60 and a fifty-two week high of $79.43. The business has a fifty day moving average of $40.75 and a 200-day moving average of $35.95.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Truist Financial reissued a “buy” rating and set a $65.00 target price on shares of Five9 in a research note on Tuesday, December 17th. Wells Fargo & Company cut Five9 from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $55.00 to $40.00 in a research report on Tuesday, November 12th. Needham & Company LLC reissued a “buy” rating and issued a $52.00 target price on shares of Five9 in a report on Tuesday, January 21st. Rosenblatt Securities upped their price target on shares of Five9 from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, 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. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.50.

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.