Massachusetts Financial Services Co. MA Grows Position in Five9, Inc. (NASDAQ:FIVN)

Massachusetts Financial Services Co. MA lifted its position in shares of Five9, Inc. (NASDAQ:FIVN) by 14.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,667,922 shares of the software maker’s stock after purchasing an additional 210,836 shares during the period. Massachusetts Financial Services Co. MA owned 2.23% of Five9 worth $47,919,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quent Capital LLC lifted its position in shares of Five9 by 8.7% during the 2nd quarter. Quent Capital LLC now owns 4,379 shares of the software maker’s stock worth $193,000 after buying an additional 352 shares in the last quarter. BOKF NA lifted its holdings in Five9 by 1.7% during the first quarter. BOKF NA now owns 39,846 shares of the software maker’s stock worth $2,445,000 after acquiring an additional 657 shares during the period. Rhumbline Advisers grew its stake in Five9 by 0.8% in the 2nd quarter. Rhumbline Advisers now owns 86,000 shares of the software maker’s stock valued at $3,793,000 after purchasing an additional 673 shares during the period. Signaturefd LLC increased its position in shares of Five9 by 1,892.3% during the 3rd quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock valued at $30,000 after purchasing an additional 984 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Five9 during the second quarter worth about $57,000. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Five9 Price Performance

Shares of Five9 stock opened at $40.32 on Monday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.85 and a current ratio of 1.85. Five9, Inc. has a 52-week low of $26.60 and a 52-week high of $92.40. The company has a fifty day moving average of $31.43 and a 200-day moving average of $37.89. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of -80.64, a price-to-earnings-growth ratio of 23.21 and a beta of 0.85.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Piper Sandler boosted their target price on Five9 from $35.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. DA Davidson increased their target price on shares of Five9 from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Wells Fargo & Company lowered shares of Five9 from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $55.00 to $40.00 in a research report on Tuesday, November 12th. BTIG Research lowered their target price on shares of Five9 from $100.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Rosenblatt Securities raised their price target on Five9 from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Insider Buying and Selling at Five9

In other news, EVP Panos Kozanian sold 7,617 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now owns 76,628 shares of the company’s stock, valued at approximately $2,300,372.56. This represents a 9.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Leena Mansharamani sold 1,395 shares of Five9 stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $30.51, for a total transaction of $42,561.45. Following the completion of the transaction, the chief accounting officer now directly owns 36,872 shares in the company, valued at approximately $1,124,964.72. The trade was a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,888 shares of company stock worth $1,010,720 over the last three months. Company insiders own 1.80% of the company’s stock.

Five9 Company Profile

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.