Wells Fargo & Company MN cut its holdings in Five9 Inc (NASDAQ:FIVN) by 14.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 874,493 shares of the software maker’s stock after selling 153,300 shares during the quarter. Wells Fargo & Company MN owned about 1.52% of Five9 worth $30,232,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Intrinsic Edge Capital Management LLC lifted its holdings in Five9 by 137.4% in the first quarter. Intrinsic Edge Capital Management LLC now owns 552,363 shares of the software maker’s stock valued at $16,455,000 after acquiring an additional 319,715 shares during the period. K.J. Harrison & Partners Inc purchased a new stake in shares of Five9 in the first quarter valued at approximately $209,000. Algert Global LLC purchased a new stake in shares of Five9 in the first quarter valued at approximately $561,000. SG Americas Securities LLC purchased a new stake in shares of Five9 in the first quarter valued at approximately $175,000. Finally, Summit Global Investments purchased a new stake in shares of Five9 in the first quarter valued at approximately $578,000. 96.30% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Five9 stock traded up $0.44 during trading hours on Friday, hitting $47.18. The company’s stock had a trading volume of 445,900 shares, compared to its average volume of 578,870. Five9 Inc has a twelve month low of $21.20 and a twelve month high of $49.50. The firm has a market cap of $2.79 billion, a PE ratio of -277.53 and a beta of 0.38. The company has a quick ratio of 6.96, a current ratio of 6.96 and a debt-to-equity ratio of 1.66.

Five9 (NASDAQ:FIVN) last posted its earnings results on Monday, August 6th. The software maker reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.07. Five9 had a negative return on equity of 3.56% and a negative net margin of 1.04%. The firm had revenue of $61.12 million for the quarter, compared to analyst estimates of $56.42 million. The business’s revenue was up 28.1% on a year-over-year basis. equities analysts expect that Five9 Inc will post -0.05 earnings per share for the current year.

In other Five9 news, CFO Barry Zwarenstein sold 10,000 shares of the company’s stock in a transaction dated Monday, June 25th. The stock was sold at an average price of $34.33, for a total transaction of $343,300.00. Following the sale, the chief financial officer now owns 189,710 shares in the company, valued at approximately $6,512,744.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Gaurav Passi sold 1,428 shares of the stock in a transaction that occurred on Monday, June 25th. The stock was sold at an average price of $34.33, for a total value of $49,023.24. Following the sale, the executive vice president now directly owns 85,016 shares of the company’s stock, valued at $2,918,599.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,605 shares of company stock worth $3,334,392. 5.10% of the stock is owned by company insiders.

A number of analysts have recently commented on the company. Canaccord Genuity restated a “buy” rating and issued a $42.00 price objective (up from $34.00) on shares of Five9 in a research report on Tuesday, August 7th. BidaskClub cut Five9 from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. Zacks Investment Research upgraded Five9 from a “hold” rating to a “strong-buy” rating and set a $49.00 price target for the company in a research report on Thursday, August 9th. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price target (up from $45.00) on shares of Five9 in a research report on Thursday, August 23rd. Finally, Stifel Nicolaus boosted their price target on Five9 from $36.00 to $38.00 and gave the stock a “hold” rating in a research report on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Five9 has an average rating of “Buy” and an average price target of $39.36.

About Five9

Five9, Inc, together with its subsidiaries, provides cloud software for contact centers in the United States and internationally. It 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; and acts as a hub for omnichannel engagement between the clients and their customers, which enables them to manage the end-to-end customer experience in a single unified architecture.

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Institutional Ownership by Quarter for Five9 (NASDAQ:FIVN)

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