Mirae Asset Global Investments Co. Ltd. Purchases 46,770 Shares of Five9, Inc. (NASDAQ:FIVN)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Five9, Inc. (NASDAQ:FIVN) by 12.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 429,007 shares of the software maker’s stock after acquiring an additional 46,770 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.58% of Five9 worth $26,807,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Assenagon Asset Management S.A. grew its stake in shares of Five9 by 84.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 837,856 shares of the software maker’s stock worth $65,931,000 after acquiring an additional 383,002 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Five9 during the fourth quarter worth about $1,684,000. Alberta Investment Management Corp purchased a new stake in shares of Five9 during the fourth quarter worth about $2,254,000. Trexquant Investment LP purchased a new stake in Five9 in the fourth quarter valued at approximately $1,364,000. Finally, Tairen Capital Ltd purchased a new stake in Five9 in the fourth quarter valued at approximately $5,836,000. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Insider Buying and Selling at Five9

In other news, CRO Daniel P. Burkland sold 7,698 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $46.30, for a total transaction of $356,417.40. Following the completion of the transaction, the executive now directly owns 127,635 shares in the company, valued at approximately $5,909,500.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO Leena Mansharamani sold 1,542 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $46.27, for a total transaction of $71,348.34. Following the completion of the transaction, the chief accounting officer now directly owns 38,267 shares in the company, valued at approximately $1,770,614.09. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO Daniel P. Burkland sold 7,698 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $46.30, for a total value of $356,417.40. Following the transaction, the executive now owns 127,635 shares of the company’s stock, valued at $5,909,500.50. The disclosure for this sale can be found here. Insiders sold a total of 44,541 shares of company stock worth $2,024,537 in the last three months. 1.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

FIVN has been the topic of a number of recent research reports. Morgan Stanley dropped their target price on Five9 from $70.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Friday, June 14th. Canaccord Genuity Group dropped their target price on Five9 from $90.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of Five9 in a research report on Thursday, June 6th. Royal Bank of Canada assumed coverage on Five9 in a research report on Friday, March 15th. They issued an “outperform” rating and a $80.00 price objective on the stock. Finally, Rosenblatt Securities restated a “buy” rating and issued a $80.00 price objective on shares of Five9 in a research report on Friday, May 3rd. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Five9 currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.71.

Five9 Stock Up 0.1 %

NASDAQ FIVN traded up $0.06 during mid-day trading on Friday, hitting $42.88. The stock had a trading volume of 1,072,583 shares, compared to its average volume of 1,186,993. The firm’s 50 day moving average is $47.80 and its 200 day moving average is $61.28. Five9, Inc. has a twelve month low of $39.07 and a twelve month high of $92.40. The company has a quick ratio of 7.02, a current ratio of 7.02 and a debt-to-equity ratio of 2.41.

Five9 (NASDAQ:FIVN) last issued its earnings results on Thursday, May 2nd. The software maker reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.13. The company had revenue of $247.01 million during the quarter, compared to analysts’ expectations of $239.72 million. Five9 had a negative return on equity of 9.09% and a negative net margin of 6.56%. As a group, equities research analysts anticipate that Five9, Inc. will post -0.3 EPS for the current fiscal year.

Five9 Profile

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States 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.