Vestcor Inc Boosts Stock Position in Five9, Inc. (NASDAQ:FIVN)

Vestcor Inc boosted its holdings in shares of Five9, Inc. (NASDAQ:FIVN) by 42.9% during the third quarter, Holdings Channel.com reports. The firm owned 50,000 shares of the software maker’s stock after acquiring an additional 15,000 shares during the period. Vestcor Inc’s holdings in Five9 were worth $1,437,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Rhumbline Advisers raised its position in shares of Five9 by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 86,000 shares of the software maker’s stock valued at $3,793,000 after buying an additional 673 shares in the last quarter. Signaturefd LLC grew 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 worth $30,000 after acquiring an additional 984 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Five9 during the second quarter worth approximately $57,000. Arizona State Retirement System raised its position in Five9 by 8.9% during the second quarter. Arizona State Retirement System now owns 20,673 shares of the software maker’s stock valued at $912,000 after purchasing an additional 1,693 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Five9 by 13.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,069 shares of the software maker’s stock valued at $548,000 after purchasing an additional 2,254 shares during the last quarter. Institutional investors own 96.64% of the company’s stock.

Insider Transactions at Five9

In other news, CFO Barry Zwarenstein sold 3,336 shares of Five9 stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $41.85, for a total value of $139,611.60. Following the transaction, the chief financial officer now owns 98,396 shares of the company’s stock, valued at $4,117,872.60. The trade was a 3.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Burkland sold 12,594 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $41.40, for a total transaction of $521,391.60. Following the sale, the chief executive officer now directly owns 240,894 shares of the company’s stock, valued at $9,973,011.60. The trade was a 4.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 29,004 shares of company stock valued at $1,209,279. Corporate insiders own 1.80% of the company’s stock.

Five9 Stock Performance

Shares of NASDAQ:FIVN opened at $43.04 on Thursday. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of -86.08, a price-to-earnings-growth ratio of 25.64 and a beta of 0.92. The firm has a 50 day moving average of $34.97 and a 200 day moving average of $36.89. Five9, Inc. has a 52 week low of $26.60 and a 52 week high of $85.00.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $48.00 price target on shares of Five9 in a report on Friday, November 8th. Piper Sandler increased their target price on shares of Five9 from $35.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Wells Fargo & Company cut shares of 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 note on Tuesday, November 12th. DA Davidson increased their price target on Five9 from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Morgan Stanley decreased their price target on Five9 from $45.00 to $37.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 15th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Five9 presently has an average rating of “Moderate Buy” and a consensus price target of $59.22.

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.