Wellington Management Group LLP Buys 601,348 Shares of Five9, Inc. (NASDAQ:FIVN)

Wellington Management Group LLP lifted its stake in shares of Five9, Inc. (NASDAQ:FIVN) by 50.9% in the 4th quarter, Holdings Channel reports. The fund owned 1,783,870 shares of the software maker’s stock after acquiring an additional 601,348 shares during the quarter. Wellington Management Group LLP’s holdings in Five9 were worth $72,496,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in FIVN. Gagnon Securities LLC increased its holdings in Five9 by 10.4% during the 4th quarter. Gagnon Securities LLC now owns 366,096 shares of the software maker’s stock worth $14,878,000 after purchasing an additional 34,597 shares in the last quarter. Vestcor Inc grew its holdings in shares of Five9 by 42.9% during the third quarter. Vestcor Inc now owns 50,000 shares of the software maker’s stock worth $1,437,000 after buying an additional 15,000 shares in the last quarter. Barclays PLC raised its position in Five9 by 215.8% in the 3rd quarter. Barclays PLC now owns 242,187 shares of the software maker’s stock valued at $6,956,000 after buying an additional 165,487 shares during the last quarter. Principal Financial Group Inc. bought a new stake in Five9 in the 4th quarter valued at approximately $268,000. Finally, Bullseye Asset Management LLC boosted its position in Five9 by 13.7% during the 3rd quarter. Bullseye Asset Management LLC now owns 103,768 shares of the software maker’s stock worth $2,981,000 after acquiring an additional 12,500 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Panos Kozanian sold 7,619 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $33.40, for a total value of $254,474.60. Following the transaction, the executive vice president now directly owns 126,359 shares in the company, valued at approximately $4,220,390.60. This represents a 5.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Leena Mansharamani sold 1,517 shares of Five9 stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $33.23, for a total transaction of $50,409.91. Following the completion of the sale, the chief accounting officer now owns 48,300 shares of the company’s stock, valued at $1,605,009. This trade represents a 3.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,574 shares of company stock worth $1,004,346 in the last 90 days. Company insiders own 1.80% of the company’s stock.

Five9 Stock Down 8.9 %

Shares of FIVN opened at $23.00 on Friday. The firm has a market cap of $1.74 billion, a P/E ratio of -114.99, a price-to-earnings-growth ratio of 9.41 and a beta of 1.29. 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, Inc. has a 52 week low of $22.09 and a 52 week high of $63.30. The firm’s 50-day simple moving average is $35.20 and its 200 day simple moving average is $35.66.

Five9 (NASDAQ:FIVN) last posted its earnings results on Thursday, February 20th. The software maker reported $0.26 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.44). The firm had revenue of $278.66 million during the quarter, compared to analyst estimates of $267.70 million. Five9 had a negative net margin of 1.23% and a positive return on equity of 3.62%. On average, analysts forecast that Five9, Inc. will post 0.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on FIVN shares. Truist Financial reiterated a “buy” rating and issued a $65.00 price objective on shares of Five9 in a report on Tuesday, December 17th. Barclays boosted their price target on shares of Five9 from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Cantor Fitzgerald raised their price objective on Five9 from $46.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, February 21st. William Blair reiterated an “outperform” rating on shares of Five9 in a report on Thursday, March 13th. Finally, Morgan Stanley raised their price target on Five9 from $40.00 to $46.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 18th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.76.

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.