Nordea Investment Management AB lifted its stake in shares of Five9, Inc. (NASDAQ:FIVN – Free Report) by 38.6% during the third quarter, Holdings Channel reports. The fund owned 189,459 shares of the software maker’s stock after acquiring an additional 52,791 shares during the period. Nordea Investment Management AB’s holdings in Five9 were worth $4,655,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its stake in Five9 by 36.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,630 shares of the software maker’s stock worth $39,000 after purchasing an additional 435 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Five9 by 0.8% in the 2nd quarter. California State Teachers Retirement System now owns 69,189 shares of the software maker’s stock valued at $1,832,000 after buying an additional 549 shares during the period. Global Retirement Partners LLC grew its position in shares of Five9 by 81.7% during the third quarter. Global Retirement Partners LLC now owns 1,228 shares of the software maker’s stock worth $30,000 after buying an additional 552 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Five9 by 3.2% during the second quarter. Harbor Capital Advisors Inc. now owns 18,685 shares of the software maker’s stock worth $495,000 after buying an additional 583 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in shares of Five9 by 9.4% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 9,300 shares of the software maker’s stock worth $225,000 after buying an additional 800 shares during the period. 96.64% of the stock is currently owned by hedge funds and other institutional investors.
Five9 Stock Down 7.5%
FIVN opened at $17.59 on Friday. Five9, Inc. has a one year low of $17.55 and a one year high of $49.90. The company has a debt-to-equity ratio of 0.96, a quick ratio of 4.61 and a current ratio of 4.61. The stock has a market capitalization of $1.38 billion, a P/E ratio of 48.86, a price-to-earnings-growth ratio of 0.89 and a beta of 1.32. The business’s 50-day simple moving average is $19.93 and its 200-day simple moving average is $23.42.
Five9 declared that its board has authorized a share repurchase plan on Tuesday, November 11th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the software maker to repurchase up to 3.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on FIVN shares. Wall Street Zen downgraded shares of Five9 from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 20th. Barclays lowered their target price on shares of Five9 from $29.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, January 12th. Morgan Stanley cut their price target on Five9 from $30.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price target on shares of Five9 in a report on Thursday, December 18th. Finally, Wells Fargo & Company dropped their price objective on Five9 from $28.00 to $22.00 and set an “equal weight” rating on the stock in a report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Five9 has a consensus rating of “Moderate Buy” and a consensus target price of $32.07.
Read Our Latest Research Report on FIVN
Insider Transactions at Five9
In other Five9 news, insider Tiffany N. Meriweather sold 6,852 shares of the firm’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $20.35, for a total transaction of $139,438.20. Following the transaction, the insider directly owned 212,126 shares of the company’s stock, valued at approximately $4,316,764.10. This trade represents a 3.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Matthew E. Tuckness sold 5,255 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $20.35, for a total transaction of $106,939.25. Following the completion of the sale, the executive directly owned 176,379 shares of the company’s stock, valued at $3,589,312.65. The trade was a 2.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 66,039 shares of company stock worth $1,347,231 over the last 90 days. Company insiders own 1.60% of the company’s stock.
Five9 Profile
Five9, Inc (NASDAQ: FIVN) is a leading provider of cloud-based contact center software designed to help organizations manage customer interactions across voice, email, chat, social media and other digital channels. Its platform offers features such as intelligent routing, analytics, workforce optimization and integrated customer relationship management (CRM) connectors. The company emphasizes AI-driven capabilities, including virtual agents and predictive dialing, to enhance both agent productivity and customer experience.
Founded in 2001 and headquartered in San Ramon, California, Five9 completed its initial public offering in February 2014.
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