Los Angeles Capital Management & Equity Research Inc. Takes Position in Five9, Inc. (FIVN)
Los Angeles Capital Management & Equity Research Inc. bought a new position in Five9, Inc. (NASDAQ:FIVN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 36,982 shares of the software maker’s stock, valued at approximately $796,000. Los Angeles Capital Management & Equity Research Inc. owned about 0.07% of Five9 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Swiss National Bank grew its stake in shares of Five9 by 9.0% in the second quarter. Swiss National Bank now owns 70,600 shares of the software maker’s stock worth $1,519,000 after purchasing an additional 5,800 shares during the last quarter. Chicago Equity Partners LLC bought a new stake in shares of Five9 in the second quarter worth about $373,000. Principal Financial Group Inc. bought a new stake in shares of Five9 in the second quarter worth about $219,000. Royce & Associates LP bought a new stake in shares of Five9 in the second quarter worth about $968,000. Finally, Federated Investors Inc. PA grew its stake in shares of Five9 by 2.9% in the second quarter. Federated Investors Inc. PA now owns 62,034 shares of the software maker’s stock worth $1,335,000 after purchasing an additional 1,750 shares during the last quarter. 91.24% of the stock is currently owned by institutional investors.
Shares of Five9, Inc. (NASDAQ FIVN) opened at 22.01 on Friday. The company’s market capitalization is $1.21 billion. The firm’s 50-day moving average price is $21.30 and its 200 day moving average price is $20.44. Five9, Inc. has a 52-week low of $12.58 and a 52-week high of $24.80.
Several analysts recently issued reports on the company. KeyCorp reissued a “buy” rating and issued a $27.00 target price on shares of Five9 in a research note on Friday. Northland Securities reissued a “buy” rating and issued a $25.00 target price on shares of Five9 in a research note on Friday, September 1st. Zacks Investment Research cut Five9 from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. Needham & Company LLC reissued a “buy” rating and issued a $26.00 target price (up from $21.00) on shares of Five9 in a research note on Wednesday, August 9th. Finally, Canaccord Genuity raised their target price on Five9 from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $22.88.
In other news, EVP Daniel P. Burkland sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $20.41, for a total transaction of $204,100.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Barry Zwarenstein sold 13,024 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $21.25, for a total transaction of $276,760.00. Following the transaction, the chief financial officer now directly owns 123,698 shares in the company, valued at $2,628,582.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 103,007 shares of company stock worth $2,215,720. Corporate insiders own 9.10% of the company’s stock.
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. The Company’s solution, which consists of its VCC cloud platform and applications, allows simultaneous management and optimization of customer interactions across voice, chat, e-mail, Web, social media and mobile channels, either directly or through its application programming interfaces (APIs).
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