RiverPark Advisors LLC Grows Position in Five9, Inc. (NASDAQ:FIVN)

RiverPark Advisors LLC increased its position in shares of Five9, Inc. (NASDAQ:FIVN) by 29.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,162 shares of the software maker’s stock after buying an additional 6,371 shares during the quarter. Five9 comprises 1.4% of RiverPark Advisors LLC’s investment portfolio, making the stock its 25th biggest holding. RiverPark Advisors LLC’s holdings in Five9 were worth $1,749,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI grew its stake in Five9 by 46.8% during the 4th quarter. Arcadia Investment Management Corp MI now owns 452 shares of the software maker’s stock worth $36,000 after buying an additional 144 shares during the last quarter. Global Wealth Management Investment Advisory Inc. grew its stake in Five9 by 139.5% during the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 479 shares of the software maker’s stock worth $38,000 after buying an additional 279 shares during the last quarter. Headlands Technologies LLC grew its stake in Five9 by 136.0% during the 4th quarter. Headlands Technologies LLC now owns 531 shares of the software maker’s stock worth $42,000 after buying an additional 306 shares during the last quarter. Intrust Bank NA acquired a new stake in Five9 during the 4th quarter worth approximately $202,000. Finally, Inceptionr LLC acquired a new stake in Five9 during the 4th quarter worth approximately $215,000. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Insider Activity

In other news, CAO Leena Mansharamani sold 1,542 shares of Five9 stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $46.27, for a total value of $71,348.34. Following the completion of the sale, the chief accounting officer now owns 38,267 shares of the company’s stock, valued at $1,770,614.09. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Barry Zwarenstein sold 10,291 shares of Five9 stock in a transaction on Monday, June 10th. The stock was sold at an average price of $42.64, for a total value of $438,808.24. Following the transaction, the chief financial officer now owns 107,255 shares in the company, valued at $4,573,353.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Leena Mansharamani sold 1,542 shares of Five9 stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $46.27, for a total value of $71,348.34. Following the completion of the transaction, the chief accounting officer now owns 38,267 shares in the company, valued at approximately $1,770,614.09. The disclosure for this sale can be found here. Insiders sold a total of 44,541 shares of company stock valued at $2,024,537 over the last quarter. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wells Fargo & Company decreased their price objective on Five9 from $85.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, June 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of Five9 in a research report on Thursday, June 6th. Canaccord Genuity Group decreased their price objective on Five9 from $90.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Royal Bank of Canada assumed coverage on Five9 in a research report on Friday, March 15th. They set an “outperform” rating and a $80.00 price objective for the company. Finally, Morgan Stanley decreased their price objective on Five9 from $70.00 to $50.00 and set an “equal weight” rating for the company in a research report on Friday, June 14th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Five9 currently has an average rating of “Moderate Buy” and an average price target of $82.71.

Five9 Price Performance

NASDAQ FIVN traded down $0.71 during mid-day trading on Tuesday, hitting $41.81. The stock had a trading volume of 998,799 shares, compared to its average volume of 1,309,555. Five9, Inc. has a 52-week low of $39.07 and a 52-week high of $92.40. The company has a market cap of $3.09 billion, a price-to-earnings ratio of -49.19 and a beta of 0.82. The company has a 50 day simple moving average of $47.47 and a 200 day simple moving average of $60.78. The company has a quick ratio of 7.02, a current ratio of 7.02 and a debt-to-equity ratio of 2.41.

Five9 (NASDAQ:FIVN) last released its quarterly earnings results on Thursday, May 2nd. The software maker reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.13. The company had revenue of $247.01 million during the quarter, compared to the consensus estimate of $239.72 million. Five9 had a negative return on equity of 9.09% and a negative net margin of 6.56%. Equities analysts forecast that Five9, Inc. will post -0.3 EPS for the current fiscal year.

Five9 Profile

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States 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.