Roanoke Asset Management Corp NY decreased its stake in Five9 Inc (NASDAQ:FIVN) by 13.6% during the third quarter, Holdings Channel reports. The institutional investor owned 9,500 shares of the software maker’s stock after selling 1,500 shares during the quarter. Roanoke Asset Management Corp NY’s holdings in Five9 were worth $415,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of FIVN. Sylebra HK Co Ltd bought a new position in shares of Five9 during the 2nd quarter valued at $24,364,000. Hood River Capital Management LLC bought a new position in shares of Five9 during the 2nd quarter valued at $19,594,000. BlackRock Inc. grew its holdings in shares of Five9 by 11.1% during the 2nd quarter. BlackRock Inc. now owns 4,072,663 shares of the software maker’s stock valued at $140,794,000 after purchasing an additional 406,173 shares during the last quarter. Federated Investors Inc. PA grew its holdings in shares of Five9 by 229.3% during the 2nd quarter. Federated Investors Inc. PA now owns 243,054 shares of the software maker’s stock valued at $8,402,000 after purchasing an additional 169,243 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of Five9 by 244.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 162,927 shares of the software maker’s stock valued at $5,632,000 after purchasing an additional 115,576 shares during the last quarter. 96.43% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently commented on FIVN shares. BidaskClub raised shares of Five9 from a “hold” rating to a “buy” rating in a report on Wednesday, August 8th. Needham & Company LLC raised their price target on shares of Five9 from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, August 7th. Northland Securities restated a “buy” rating and issued a $48.00 price objective on shares of Five9 in a research report on Tuesday, August 7th. Canaccord Genuity restated a “buy” rating and issued a $42.00 price objective (up previously from $34.00) on shares of Five9 in a research report on Tuesday, August 7th. Finally, Zacks Investment Research upgraded shares of Five9 from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research report on Friday, September 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $39.36.
Five9 (NASDAQ:FIVN) last released its quarterly earnings data on Monday, August 6th. The software maker reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. Five9 had a negative net margin of 1.04% and a negative return on equity of 3.56%. The firm had revenue of $61.12 million for the quarter, compared to analysts’ expectations of $56.42 million. The company’s revenue was up 28.1% compared to the same quarter last year. Equities analysts predict that Five9 Inc will post -0.06 EPS for the current year.
In other news, EVP Gaurav Passi sold 979 shares of Five9 stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $34.45, for a total transaction of $33,726.55. Following the sale, the executive vice president now owns 84,567 shares of the company’s stock, valued at approximately $2,913,333.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott Welch sold 15,912 shares of Five9 stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $47.25, for a total transaction of $751,842.00. Following the sale, the executive vice president now directly owns 84,033 shares in the company, valued at approximately $3,970,559.25. The disclosure for this sale can be found here. Insiders have sold a total of 107,937 shares of company stock worth $4,700,892 in the last ninety days. Insiders own 5.10% of the company’s stock.
Five9, Inc, together with its subsidiaries, provides cloud software for contact centers in the United States and internationally. It offers 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; and acts as a hub for omnichannel engagement between the clients and their customers, which enables them to manage the end-to-end customer experience in a single unified architecture.
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