Hood River Capital Management LLC Has $5,233,000 Stake in Five9 Inc. (FIVN)
Hood River Capital Management LLC raised its position in shares of Five9 Inc. (NASDAQ:FIVN) by 62.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 439,715 shares of the company’s stock after buying an additional 168,372 shares during the period. Hood River Capital Management LLC’s holdings in Five9 were worth $5,233,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of FIVN. American Century Companies Inc. acquired a new position in Five9 during the second quarter worth about $589,000. Bollard Group LLC acquired a new position in Five9 during the second quarter worth about $254,000. Hamilton Lane Advisors LLC acquired a new position in Five9 during the second quarter worth about $292,000. Metropolitan Life Insurance Co. NY acquired a new position in Five9 during the first quarter worth about $164,000. Finally, Harvest Capital Strategies LLC acquired a new position in Five9 during the first quarter worth about $667,000. Institutional investors own 83.84% of the company’s stock.
Five9 Inc. (NASDAQ:FIVN) traded down 1.77% during mid-day trading on Friday, hitting $15.00. 185,542 shares of the stock were exchanged. Five9 Inc. has a one year low of $3.63 and a one year high of $16.40. The company’s market cap is $788.31 million. The company has a 50-day moving average price of $14.86 and a 200-day moving average price of $11.83.
Five9 (NASDAQ:FIVN) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.02) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.05. The firm had revenue of $38.90 million for the quarter, compared to the consensus estimate of $36.86 million. Five9 had a negative net margin of 12.36% and a negative return on equity of 65.04%. The company’s revenue was up 31.7% on a year-over-year basis. During the same period last year, the firm posted ($0.10) EPS. Analysts forecast that Five9 Inc. will post ($0.14) earnings per share for the current fiscal year.
A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Five9 from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Tuesday. Bank of America Corp. cut shares of Five9 from a “neutral” rating to an “underperform” rating in a report on Tuesday, September 20th. Barclays PLC lifted their price objective on shares of Five9 from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Thursday, August 4th. Needham & Company LLC lifted their price objective on shares of Five9 from $11.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Finally, Craig Hallum began coverage on shares of Five9 in a report on Thursday, June 9th. They issued a “buy” rating and a $16.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. Five9 presently has a consensus rating of “Buy” and an average target price of $14.56.
In related news, insider Daniel P. Burkland sold 2,626 shares of the stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $15.75, for a total transaction of $41,359.50. Following the completion of the sale, the insider now owns 121,893 shares in the company, valued at approximately $1,919,814.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Barry Zwarenstein sold 8,000 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $15.67, for a total transaction of $125,360.00. Following the sale, the chief financial officer now owns 422,508 shares of the company’s stock, valued at approximately $6,620,700.36. The disclosure for this sale can be found here. 40.20% of the stock is currently owned by corporate insiders.
Five9 Inc (Five9) is a provider of cloud software for contact centers. The Company’s purpose-built Virtual Contact Center (VCC) cloud platform delivers a suite of applications that enable the breadth of contact center-related customer service, sales and marketing functions. It facilitates over three billion interactions between its 2,000 clients and clients’ customers per year.
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