Five9, Inc. (NASDAQ:FIVN) Shares Bought by King Luther Capital Management Corp

King Luther Capital Management Corp increased its position in Five9, Inc. (NASDAQ:FIVN) by 75.7% during the third quarter, HoldingsChannel.com reports. The fund owned 82,166 shares of the software maker’s stock after acquiring an additional 35,413 shares during the quarter. King Luther Capital Management Corp’s holdings in Five9 were worth $2,361,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. ProShare Advisors LLC purchased a new stake in Five9 during the first quarter worth $247,000. Vanguard Group Inc. boosted its position in shares of Five9 by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 7,437,575 shares of the software maker’s stock worth $461,948,000 after buying an additional 150,786 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in Five9 in the 1st quarter valued at about $264,000. CANADA LIFE ASSURANCE Co increased its holdings in Five9 by 6.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 99,006 shares of the software maker’s stock valued at $6,147,000 after acquiring an additional 6,431 shares in the last quarter. Finally, BOKF NA raised its position in Five9 by 1.7% during the first quarter. BOKF NA now owns 39,846 shares of the software maker’s stock worth $2,445,000 after acquiring an additional 657 shares during the last quarter. 96.64% of the stock is owned by hedge funds and other institutional investors.

Five9 Stock Up 4.8 %

Shares of FIVN opened at $40.32 on Friday. Five9, Inc. has a fifty-two week low of $26.60 and a fifty-two week high of $92.40. The company’s fifty day moving average is $31.19 and its two-hundred day moving average is $38.13. The firm has a market cap of $3.03 billion, a PE ratio of -80.64, a price-to-earnings-growth ratio of 22.74 and a beta of 0.85. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32.

Analyst Upgrades and Downgrades

FIVN has been the topic of several research reports. BTIG Research lowered their price target on shares of Five9 from $100.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Wells Fargo & Company downgraded Five9 from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $55.00 to $40.00 in a research report on Tuesday, November 12th. Northland Securities reduced their price objective on Five9 from $95.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Bank of America raised Five9 from an “underperform” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Monday, August 5th. Finally, DA Davidson boosted their target price 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. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $59.22.

Insider Buying and Selling

In other news, CAO Leena Mansharamani sold 1,395 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $30.51, for a total transaction of $42,561.45. Following the completion of the sale, the chief accounting officer now owns 36,872 shares in the company, valued at approximately $1,124,964.72. The trade was a 3.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Barry Zwarenstein sold 4,408 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $26.97, for a total transaction of $118,883.76. Following the completion of the transaction, the chief financial officer now 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. In the last ninety days, insiders have sold 36,493 shares of company stock valued at $1,097,753. 1.80% of the stock is currently owned by company insiders.

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.