potrero capital research llc Raises Stake in Five9 Inc (FIVN)
potrero capital research llc lifted its position in Five9 Inc (NASDAQ:FIVN) by 289.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,690 shares of the software maker’s stock after purchasing an additional 39,890 shares during the quarter. Five9 comprises about 1.1% of potrero capital research llc’s investment portfolio, making the stock its 28th biggest position. potrero capital research llc owned about 0.10% of Five9 worth $1,155,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Five9 by 25.5% in the second quarter. Vanguard Group Inc. now owns 3,297,927 shares of the software maker’s stock worth $70,972,000 after purchasing an additional 670,939 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Five9 by 6.7% in the second quarter. Renaissance Technologies LLC now owns 2,113,600 shares of the software maker’s stock worth $45,485,000 after purchasing an additional 132,100 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Five9 by 69.4% in the second quarter. Russell Investments Group Ltd. now owns 1,703,148 shares of the software maker’s stock worth $36,650,000 after purchasing an additional 697,949 shares during the last quarter. Scge Management L.P. bought a new stake in shares of Five9 in the first quarter worth about $18,702,000. Finally, FMR LLC increased its holdings in shares of Five9 by 19.6% in the second quarter. FMR LLC now owns 956,737 shares of the software maker’s stock worth $20,589,000 after purchasing an additional 156,737 shares during the last quarter. 91.24% of the stock is currently owned by hedge funds and other institutional investors.
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In other Five9 news, EVP Daniel P. Burkland sold 10,000 shares of the stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $22.12, for a total value of $221,200.00. Following the completion of the sale, the executive vice president now owns 146,436 shares in the company, valued at approximately $3,239,164.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Barry Zwarenstein sold 3,020 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $21.01, for a total transaction of $63,450.20. Following the completion of the sale, the chief financial officer now owns 126,722 shares of the company’s stock, valued at approximately $2,662,429.22. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,007 shares of company stock valued at $2,215,720. Insiders own 9.10% of the company’s stock.
FIVN has been the topic of several research reports. Northland Securities set a $25.00 target price on Five9 and gave the stock a “buy” rating in a report on Wednesday, July 19th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $21.00 target price (up from $18.00) on shares of Five9 in a report on Thursday, July 20th. Zacks Investment Research raised Five9 from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Tuesday, July 4th. BidaskClub cut Five9 from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Finally, Canaccord Genuity lifted their target price on Five9 from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $22.88.
Five9 Inc (NASDAQ:FIVN) traded up 1.82% on Friday, reaching $22.41. The company had a trading volume of 328,998 shares. The firm’s market capitalization is $1.24 billion. The company’s 50-day moving average price is $21.30 and its 200 day moving average price is $20.44. Five9 Inc has a 1-year low of $12.58 and a 1-year high of $24.80.
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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