Hood River Capital Management LLC Sells 772,509 Shares of Five9, Inc. (FIVN)
Hood River Capital Management LLC decreased its holdings in Five9, Inc. (NASDAQ:FIVN) by 64.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 419,196 shares of the software maker’s stock after selling 772,509 shares during the quarter. Hood River Capital Management LLC owned 0.77% of Five9 worth $9,021,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in FIVN. Scge Management L.P. acquired a new position in shares of Five9 in the 1st quarter valued at $18,702,000. Russell Investments Group Ltd. raised its stake in shares of Five9 by 69.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,703,148 shares of the software maker’s stock valued at $36,650,000 after buying an additional 697,949 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Five9 by 25.5% in the 2nd quarter. Vanguard Group Inc. now owns 3,297,927 shares of the software maker’s stock valued at $70,972,000 after buying an additional 670,939 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in shares of Five9 in the 1st quarter valued at $9,797,000. Finally, MARSHALL WACE ASIA Ltd acquired a new position in shares of Five9 in the 1st quarter valued at $9,797,000. Institutional investors own 91.24% of the company’s stock.
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Shares of Five9, Inc. (FIVN) traded down 1.74% during midday trading on Monday, hitting $22.02. 35,220 shares of the company were exchanged. The company’s market capitalization is $1.21 billion. Five9, Inc. has a one year low of $12.58 and a one year high of $24.80. The company has a 50-day moving average of $21.30 and a 200 day moving average of $20.44.
A number of equities analysts have recently issued reports on FIVN shares. Zacks Investment Research cut shares of Five9 from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. KeyCorp restated a “buy” rating and issued a $27.00 price objective on shares of Five9 in a research note on Friday. Morgan Stanley restated an “equal weight” rating and issued a $21.00 price objective (up previously from $18.00) on shares of Five9 in a research note on Thursday, July 20th. Northland Securities set a $25.00 target price on shares of Five9 and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $26.00 target price (up previously from $21.00) on shares of Five9 in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $22.88.
In related news, EVP Daniel P. Burkland sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $22.12, for a total value of $221,200.00. Following the completion of the transaction, the executive vice president now owns 146,436 shares of the company’s stock, valued at $3,239,164.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Barry Zwarenstein sold 12,622 shares of the business’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $22.44, for a total value of $283,237.68. Following the completion of the transaction, the chief financial officer now directly owns 129,742 shares of the company’s stock, valued at approximately $2,911,410.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 103,007 shares of company stock valued at $2,215,720. 9.10% of the stock is owned by 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. 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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