Kornitzer Capital Management Inc. KS decreased its position in shares of Five9 Inc (NASDAQ:FIVN) by 36.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 186,699 shares of the software maker’s stock after selling 105,220 shares during the quarter. Kornitzer Capital Management Inc. KS owned about 0.32% of Five9 worth $8,157,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in Five9 by 0.9% during the 3rd quarter. BlackRock Inc. now owns 4,111,151 shares of the software maker’s stock worth $179,617,000 after purchasing an additional 38,488 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Five9 by 14.8% during the 3rd quarter. Wells Fargo & Company MN now owns 1,003,790 shares of the software maker’s stock worth $43,856,000 after buying an additional 129,297 shares during the period. Wasatch Advisors Inc. grew its position in shares of Five9 by 510.9% during the 3rd quarter. Wasatch Advisors Inc. now owns 892,479 shares of the software maker’s stock worth $38,992,000 after buying an additional 746,394 shares during the period. Voya Investment Management LLC grew its position in shares of Five9 by 1.1% during the 2nd quarter. Voya Investment Management LLC now owns 777,910 shares of the software maker’s stock worth $26,893,000 after buying an additional 8,819 shares during the period. Finally, Northern Trust Corp grew its position in shares of Five9 by 7.8% during the 2nd quarter. Northern Trust Corp now owns 768,511 shares of the software maker’s stock worth $26,568,000 after buying an additional 55,501 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.
In related news, EVP Scott Welch sold 1,032 shares of the business’s stock in a transaction dated Friday, November 23rd. The stock was sold at an average price of $37.74, for a total value of $38,947.68. Following the sale, the executive vice president now directly owns 77,993 shares in the company, valued at approximately $2,943,455.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Daniel P. Burkland sold 15,000 shares of the business’s stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $36.68, for a total value of $550,200.00. Following the completion of the sale, the president now owns 164,492 shares in the company, valued at $6,033,566.56. The disclosure for this sale can be found here. Insiders have sold a total of 91,741 shares of company stock worth $3,791,064 over the last quarter. Company insiders own 5.10% of the company’s stock.
Five9 (NASDAQ:FIVN) last issued its quarterly earnings data on Tuesday, November 6th. The software maker reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.09. The business had revenue of $65.30 million for the quarter, compared to analysts’ expectations of $61.70 million. Five9 had a positive return on equity of 0.88% and a negative net margin of 1.90%. The business’s revenue was up 30.3% on a year-over-year basis. During the same period last year, the business earned $0.04 EPS. As a group, sell-side analysts forecast that Five9 Inc will post 0.04 earnings per share for the current year.
Several analysts have recently commented on FIVN shares. Bank of America raised their price objective on shares of Five9 from $21.00 to $25.00 and gave the stock an “underperform” rating in a research report on Tuesday, August 7th. Dougherty & Co started coverage on shares of Five9 in a research report on Tuesday, October 16th. They set a “hold” rating for the company. Zacks Investment Research downgraded shares of Five9 from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 25th. BidaskClub downgraded shares of Five9 from a “buy” rating to a “hold” rating in a research report on Saturday, September 22nd. Finally, Needham & Company LLC raised their price objective on shares of Five9 from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $40.92.
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Five9 Company Profile
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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