Edgestream Partners L.P. Sells 19,700 Shares of Five9, Inc. (NASDAQ:FIVN)

Edgestream Partners L.P. trimmed its holdings in shares of Five9, Inc. (NASDAQ:FIVNFree Report) by 30.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 45,843 shares of the software maker’s stock after selling 19,700 shares during the quarter. Edgestream Partners L.P.’s holdings in Five9 were worth $1,317,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Neo Ivy Capital Management bought a new stake in shares of Five9 during the 2nd quarter valued at $2,177,000. Scalar Gauge Management LLC bought a new stake in Five9 in the second quarter valued at about $6,990,000. King Luther Capital Management Corp bought a new stake in Five9 in the second quarter valued at about $2,062,000. Massachusetts Financial Services Co. MA lifted its stake in Five9 by 14.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,667,922 shares of the software maker’s stock valued at $47,919,000 after buying an additional 210,836 shares during the period. Finally, Van Berkom & Associates Inc. boosted its holdings in Five9 by 52.3% during the second quarter. Van Berkom & Associates Inc. now owns 1,299,483 shares of the software maker’s stock worth $57,307,000 after buying an additional 446,151 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Five9 Stock Down 0.3 %

Shares of FIVN stock opened at $41.46 on Wednesday. Five9, Inc. has a 52-week low of $26.60 and a 52-week high of $92.40. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of -82.92, a PEG ratio of 25.09 and a beta of 0.92. The firm’s 50-day moving average is $33.27 and its 200-day moving average is $37.18. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.85 and a current ratio of 1.85.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on FIVN shares. Truist Financial reiterated a “buy” rating and issued a $65.00 price target on shares of Five9 in a research report on Tuesday, August 27th. StockNews.com raised shares of Five9 from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Morgan Stanley lowered their price objective on shares of Five9 from $45.00 to $37.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 15th. Northland Securities decreased their target price on Five9 from $95.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Finally, Baird R W lowered Five9 from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Five9 has an average rating of “Moderate Buy” and an average price target of $59.22.

View Our Latest Report on FIVN

Insider Activity

In related news, CFO Barry Zwarenstein sold 4,408 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $26.97, for a total value of $118,883.76. Following the sale, the chief financial officer now owns 101,732 shares in the company, valued at approximately $2,743,712.04. This represents a 4.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

Five9 Profile

(Free Report)

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States, India, 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.

Recommended Stories

Want to see what other hedge funds are holding FIVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Five9, Inc. (NASDAQ:FIVNFree Report).

Institutional Ownership by Quarter for Five9 (NASDAQ:FIVN)

Receive News & Ratings for Five9 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Five9 and related companies with MarketBeat.com's FREE daily email newsletter.