Potrero Capital Research LLC Purchases New Position in Five9, Inc. (NASDAQ:FIVN)

Potrero Capital Research LLC purchased a new stake in Five9, Inc. (NASDAQ:FIVN) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 543,346 shares of the software maker’s stock, valued at approximately $15,610,000. Five9 comprises approximately 4.9% of Potrero Capital Research LLC’s portfolio, making the stock its 7th largest holding. Potrero Capital Research LLC owned about 0.72% of Five9 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Signaturefd LLC lifted its position in Five9 by 1,892.3% in the third quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock valued at $30,000 after acquiring an additional 984 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Five9 in the second quarter valued at $57,000. Quest Partners LLC acquired a new position in Five9 in the third quarter valued at $95,000. nVerses Capital LLC acquired a new position in Five9 in the third quarter valued at $141,000. Finally, Cetera Advisors LLC acquired a new position in Five9 in the first quarter valued at $226,000. 96.64% of the stock is owned by hedge funds and other institutional investors.

Five9 Stock Down 0.3 %

Shares of NASDAQ FIVN opened at $41.46 on Wednesday. Five9, Inc. has a 12-month low of $26.60 and a 12-month high of $92.40. The company has a market capitalization of $3.12 billion, a PE ratio of -82.92, a price-to-earnings-growth ratio of 25.09 and a beta of 0.92. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85. The firm’s 50-day moving average is $33.27 and its two-hundred day moving average is $37.18.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. StockNews.com upgraded shares of Five9 from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Baird R W lowered shares of Five9 from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Roth Mkm dropped their price objective on shares of Five9 from $90.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Northland Securities dropped their price objective on shares of Five9 from $95.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Finally, BTIG Research dropped their price objective on shares of Five9 from $100.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Five9 presently has a consensus rating of “Moderate Buy” and an average price target of $59.22.

Insider Buying and Selling at Five9

In related news, CFO Barry Zwarenstein sold 4,408 shares of the company’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 transaction, the chief financial officer now owns 101,732 shares of the company’s stock, valued at approximately $2,743,712.04. This represents a 4.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.80% of the company’s stock.

Five9 Profile

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.