Summit Global Investments Buys Shares of 3,052 Five9, Inc. (NASDAQ:FIVN)

Posted by Defense World Staff on Oct 2nd, 2023

Summit Global Investments bought a new stake in Five9, Inc. (NASDAQ:FIVN – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,052 shares of the software maker’s stock, valued at approximately $252,000.

Other hedge funds have also recently made changes to their positions in the company. FDx Advisors Inc. bought a new stake in shares of Five9 during the 2nd quarter valued at $274,000. WCM Investment Management LLC increased its stake in Five9 by 8.0% in the 2nd quarter. WCM Investment Management LLC now owns 283,950 shares of the software maker’s stock worth $23,559,000 after acquiring an additional 21,153 shares during the last quarter. Xponance Inc. increased its stake in Five9 by 1.9% in the 2nd quarter. Xponance Inc. now owns 9,740 shares of the software maker’s stock worth $803,000 after acquiring an additional 183 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new position in Five9 in the 2nd quarter worth about $135,000. Finally, Harbor Capital Advisors Inc. bought a new position in Five9 in the 2nd quarter worth about $79,000. 96.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Five9

In other news, CRO Daniel P. Burkland sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $86.38, for a total transaction of $691,040.00. Following the transaction, the executive now owns 109,875 shares of the company’s stock, valued at $9,491,002.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Barry Zwarenstein sold 12,500 shares of the stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $87.70, for a total value of $1,096,250.00. Following the transaction, the chief financial officer now owns 94,608 shares of the company’s stock, valued at $8,297,121.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CRO Daniel P. Burkland sold 8,000 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $86.38, for a total value of $691,040.00. Following the sale, the executive now directly owns 109,875 shares in the company, valued at approximately $9,491,002.50. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Five9 Price Performance

NASDAQ:FIVN opened at $64.30 on Monday. The company has a quick ratio of 5.32, a current ratio of 5.32 and a debt-to-equity ratio of 1.62. The business’s 50-day simple moving average is $72.07 and its two-hundred day simple moving average is $70.40. The stock has a market cap of $4.64 billion, a PE ratio of -53.58 and a beta of 0.78. Five9, Inc. has a 52 week low of $46.61 and a 52 week high of $89.58.

Five9 (NASDAQ:FIVN – Get Free Report) last issued its earnings results on Monday, August 7th. The software maker reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.12. Five9 had a negative return on equity of 17.08% and a negative net margin of 10.12%. The firm had revenue of $222.88 million for the quarter, compared to analysts’ expectations of $214.11 million. As a group, analysts forecast that Five9, Inc. will post -1.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on FIVN shares. StockNews.com started coverage on Five9 in a report on Thursday, August 17th. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft upgraded Five9 from a “hold” rating to a “buy” rating and upped their price objective for the stock from $75.00 to $80.00 in a report on Thursday, September 21st. DA Davidson started coverage on Five9 in a report on Wednesday, June 7th. They set a “neutral” rating and a $75.00 target price for the company. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of Five9 in a report on Tuesday, August 8th. Finally, Piper Sandler increased their price objective on Five9 from $89.00 to $94.00 in a report on Tuesday, August 8th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.05.

View Our Latest Report on Five9

Five9 Profile

(Free Report)

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States and internationally. The company offers 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.