State of New Jersey Common Pension Fund D Buys 20,040 Shares of Five9, Inc. (NASDAQ:FIVN)

State of New Jersey Common Pension Fund D increased its stake in shares of Five9, Inc. (NASDAQ:FIVN) by 51.5% in the third quarter, Holdings Channel.com reports. The firm owned 58,965 shares of the software maker’s stock after buying an additional 20,040 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Five9 were worth $1,694,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FIVN. Signaturefd LLC increased its holdings in shares of Five9 by 1,892.3% during the third quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock worth $30,000 after buying an additional 984 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Five9 in the 2nd quarter worth about $57,000. Cetera Advisors LLC bought a new position in Five9 in the first quarter valued at about $226,000. ProShare Advisors LLC acquired a new stake in shares of Five9 during the first quarter valued at about $247,000. Finally, Edgestream Partners L.P. bought a new stake in shares of Five9 during the first quarter worth about $264,000. Institutional investors own 96.64% of the company’s stock.

Wall Street Analyst Weigh In

FIVN has been the topic of several recent research reports. StockNews.com upgraded shares of Five9 from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Robert W. Baird lifted their price target on shares of Five9 from $40.00 to $43.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Barclays lowered their target price on Five9 from $75.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Rosenblatt Securities upped their price target on Five9 from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Truist Financial restated a “buy” rating and set a $65.00 price objective on shares of Five9 in a research report on Tuesday, August 27th. Six 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.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.22.

Five9 Price Performance

Shares of NASDAQ FIVN opened at $37.06 on Tuesday. The firm has a market capitalization of $2.79 billion, a P/E ratio of -76.46, a P/E/G ratio of 22.98 and a beta of 0.85. The firm’s 50-day moving average price is $30.36 and its 200-day moving average price is $38.41. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.32. Five9, Inc. has a 1-year low of $26.60 and a 1-year high of $92.40.

Insider Buying and Selling

In other Five9 news, EVP Panos Kozanian sold 7,617 shares of Five9 stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $30.02, for a total transaction of $228,662.34. Following the completion of the transaction, the executive vice president now owns 76,628 shares in the company, valued at approximately $2,300,372.56. The trade was a 9.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Barry Zwarenstein sold 4,408 shares of the business’s stock in a transaction that occurred 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 directly owns 101,732 shares of the company’s stock, valued at $2,743,712.04. This represents a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,493 shares of company stock valued at $1,097,753. 1.80% of the stock is owned by company insiders.

About Five9

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.