Kornitzer Capital Management Inc. KS Has $8.86 Million Stake in Five9, Inc. (NASDAQ:FIVN)

Kornitzer Capital Management Inc. KS trimmed its position in shares of Five9, Inc. (NASDAQ:FIVN) by 51.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,615 shares of the software maker’s stock after selling 118,995 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Five9 were worth $8,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in FIVN. MetLife Investment Management LLC acquired a new stake in shares of Five9 during the 1st quarter valued at about $482,000. Raymond James Trust N.A. acquired a new stake in Five9 in the 1st quarter worth approximately $212,000. Cetera Investment Advisers lifted its holdings in Five9 by 15.4% in the 1st quarter. Cetera Investment Advisers now owns 3,223 shares of the software maker’s stock worth $356,000 after purchasing an additional 430 shares during the last quarter. Zions Bancorporation N.A. acquired a new stake in Five9 in the 1st quarter worth approximately $613,000. Finally, Prudential Financial Inc. lifted its holdings in Five9 by 10.7% in the 1st quarter. Prudential Financial Inc. now owns 2,806 shares of the software maker’s stock worth $310,000 after purchasing an additional 272 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Five9 Price Performance

NASDAQ:FIVN traded down $0.33 during trading hours on Friday, reaching $57.09. The company had a trading volume of 1,035,234 shares, compared to its average volume of 1,088,910. The stock has a 50-day moving average of $62.57 and a two-hundred day moving average of $68.74. Five9, Inc. has a one year low of $51.01 and a one year high of $92.40. The firm has a market capitalization of $4.22 billion, a PE ratio of -50.52 and a beta of 0.83. The company has a quick ratio of 5.53, a current ratio of 5.53 and a debt-to-equity ratio of 1.38.

Five9 (NASDAQ:FIVN) last announced its quarterly earnings results on Wednesday, February 21st. The software maker reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.14. Five9 had a negative return on equity of 12.51% and a negative net margin of 8.98%. The firm had revenue of $239.06 million for the quarter, compared to analysts’ expectations of $237.64 million. Analysts forecast that Five9, Inc. will post -0.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Morgan Stanley cut their price target on Five9 from $80.00 to $70.00 and set an “equal weight” rating for the company in a report on Wednesday. Piper Sandler upped their price target on Five9 from $84.00 to $86.00 and gave the stock an “overweight” rating in a report on Friday, January 12th. KeyCorp cut their price target on Five9 from $93.00 to $86.00 and set an “overweight” rating for the company in a report on Thursday, February 22nd. Wells Fargo & Company cut their price target on Five9 from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, February 22nd. Finally, Barclays cut their price target on Five9 from $105.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, February 22nd. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Five9 has a consensus rating of “Moderate Buy” and a consensus target price of $87.13.

Insider Buying and Selling at Five9

In other Five9 news, COO Andy Dignan sold 7,340 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $57.28, for a total value of $420,435.20. Following the transaction, the chief operating officer now owns 129,559 shares of the company’s stock, valued at $7,421,139.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.80% of the company’s stock.

Five9 Profile

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States and internationally. It offers a virtual contact center cloud platform that delivers a suite of applications, which enables the breadth of contact center-related customer service, sales, and marketing functions.