Granahan Investment Management LLC Sells 39,789 Shares of Five9, Inc. (NASDAQ:FIVN)

Granahan Investment Management LLC trimmed its position in Five9, Inc. (NASDAQ:FIVN) by 19.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 163,657 shares of the software maker’s stock after selling 39,789 shares during the quarter. Granahan Investment Management LLC’s holdings in Five9 were worth $6,651,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of FIVN. Lindbrook Capital LLC raised its position in Five9 by 155.7% in the 4th quarter. Lindbrook Capital LLC now owns 854 shares of the software maker’s stock valued at $35,000 after buying an additional 520 shares during the last quarter. Banque Transatlantique SA acquired a new stake in shares of Five9 in the fourth quarter valued at approximately $36,000. Johnson Financial Group Inc. bought a new stake in shares of Five9 in the fourth quarter worth $47,000. Steward Partners Investment Advisory LLC boosted its holdings in Five9 by 7,305.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,333 shares of the software maker’s stock worth $54,000 after purchasing an additional 1,315 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in Five9 by 3,955.4% during the fourth quarter. Venturi Wealth Management LLC now owns 2,636 shares of the software maker’s stock worth $107,000 after purchasing an additional 2,571 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on FIVN shares. UBS Group reduced their price objective on shares of Five9 from $55.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Piper Sandler increased their price target on Five9 from $46.00 to $53.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Five9 in a research report on Wednesday, April 2nd. William Blair reissued an “outperform” rating on shares of Five9 in a report on Thursday, March 13th. Finally, Barclays lowered their target price on shares of Five9 from $60.00 to $33.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Five9 currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.58.

Insider Activity at Five9

In other Five9 news, CFO Barry Zwarenstein sold 2,468 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $33.23, for a total value of $82,011.64. Following the completion of the transaction, the chief financial officer now owns 92,583 shares of the company’s stock, valued at $3,076,533.09. This represents a 2.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Leena Mansharamani sold 1,517 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $33.23, for a total value of $50,409.91. Following the completion of the transaction, the chief accounting officer now owns 48,300 shares of the company’s stock, valued at $1,605,009. This represents a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,574 shares of company stock valued at $1,004,346 in the last quarter. Insiders own 1.60% of the company’s stock.

Five9 Price Performance

Five9 stock opened at $26.56 on Friday. 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 $21.04 and a 52 week high of $55.45. The stock has a market capitalization of $2.03 billion, a P/E ratio of -132.79, a price-to-earnings-growth ratio of 9.41 and a beta of 1.23. The stock has a fifty day moving average of $26.44 and a 200-day moving average of $34.68.

Five9 (NASDAQ:FIVN) last issued its earnings results on Thursday, May 1st. The software maker reported $0.62 EPS for the quarter, topping the consensus estimate of $0.48 by $0.14. Five9 had a positive return on equity of 3.62% and a negative net margin of 1.23%. The firm had revenue of $279.71 million during the quarter, compared to the consensus estimate of $272.26 million. During the same quarter in the previous year, the firm earned $0.48 earnings per share. The business’s quarterly revenue was up 13.2% on a year-over-year basis. On average, sell-side analysts expect that Five9, Inc. will post 0.28 earnings per share for the current fiscal year.

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.