Bank of New York Mellon Corp Sells 119,464 Shares of Five9, Inc. (NASDAQ:FIVN)

Bank of New York Mellon Corp cut its position in shares of Five9, Inc. (NASDAQ:FIVN) by 21.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 432,555 shares of the software maker’s stock after selling 119,464 shares during the period. Bank of New York Mellon Corp’s holdings in Five9 were worth $17,579,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of FIVN. Janney Montgomery Scott LLC bought a new position in shares of Five9 during the 3rd quarter valued at about $811,000. State of New Jersey Common Pension Fund D boosted its holdings in Five9 by 51.5% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 58,965 shares of the software maker’s stock valued at $1,694,000 after acquiring an additional 20,040 shares during the period. WCM Investment Management LLC boosted its holdings in Five9 by 14.6% during the 3rd quarter. WCM Investment Management LLC now owns 384,592 shares of the software maker’s stock valued at $11,057,000 after acquiring an additional 48,981 shares during the period. Natixis Advisors LLC purchased a new stake in Five9 during the 3rd quarter valued at about $679,000. Finally, Quest Partners LLC purchased a new stake in Five9 during the 3rd quarter valued at about $95,000. 96.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FIVN shares. Piper Sandler increased their target price on Five9 from $46.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Rosenblatt Securities increased their price objective on Five9 from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Truist Financial reiterated a “buy” rating and issued a $65.00 price objective on shares of Five9 in a report on Tuesday, December 17th. Barclays increased their price objective on Five9 from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, Morgan Stanley increased their price objective on Five9 from $40.00 to $46.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 18th. Six equities 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, the stock has an average rating of “Moderate Buy” and an average price target of $57.65.

Insiders Place Their Bets

In other Five9 news, COO Andy Dignan sold 2,840 shares of Five9 stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $33.23, for a total value of $94,373.20. Following the completion of the sale, the chief operating officer now owns 194,201 shares of the company’s stock, valued at approximately $6,453,299.23. This trade represents a 1.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Leena Mansharamani sold 1,517 shares of Five9 stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $33.23, for a total value of $50,409.91. Following the completion of the sale, the chief accounting officer now directly owns 48,300 shares of the company’s stock, valued at approximately $1,605,009. The trade was a 3.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,039 shares of company stock valued at $930,029. Corporate insiders own 1.80% of the company’s stock.

Five9 Stock Down 2.9 %

FIVN stock opened at $29.66 on Wednesday. Five9, Inc. has a twelve month low of $26.60 and a twelve month high of $63.79. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32. The firm has a market cap of $2.25 billion, a PE ratio of -148.29, a price-to-earnings-growth ratio of 9.41 and a beta of 1.01. The business has a 50 day moving average of $38.89 and a 200 day moving average of $35.93.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings data on Thursday, February 20th. The software maker reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.44). Five9 had a negative net margin of 1.23% and a positive return on equity of 3.62%. The company had revenue of $278.66 million for the quarter, compared to the consensus estimate of $267.70 million. On average, research analysts forecast that Five9, Inc. will post 0.28 EPS for the current fiscal year.

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.