King Luther Capital Management Corp Raises Stake in Five9, Inc. (NASDAQ:FIVN)

King Luther Capital Management Corp boosted its position in shares of Five9, Inc. (NASDAQ:FIVN) by 75.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 82,166 shares of the software maker’s stock after acquiring an additional 35,413 shares during the period. King Luther Capital Management Corp owned about 0.11% of Five9 worth $2,361,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FIVN. Quent Capital LLC grew its stake in shares of Five9 by 8.7% during the second quarter. Quent Capital LLC now owns 4,379 shares of the software maker’s stock worth $193,000 after purchasing an additional 352 shares in the last quarter. BOKF NA boosted its position in shares of Five9 by 1.7% during the 1st quarter. BOKF NA now owns 39,846 shares of the software maker’s stock worth $2,445,000 after acquiring an additional 657 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of 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 acquiring an additional 673 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Five9 by 1,892.3% in the 3rd quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock valued at $30,000 after acquiring 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 approximately $57,000. 96.64% of the stock is owned by hedge funds and other institutional investors.

Five9 Price Performance

Shares of NASDAQ FIVN opened at $40.32 on Friday. The stock has a fifty day moving average price of $31.19 and a 200 day moving average price of $38.13. Five9, Inc. has a 1-year low of $26.60 and a 1-year high of $92.40. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85. The company has a market cap of $3.03 billion, a PE ratio of -80.64, a P/E/G ratio of 22.74 and a beta of 0.85.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Robert W. Baird increased their price target on shares of Five9 from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 target price on shares of Five9 in a research report on Friday, November 8th. Barclays cut their price target on shares of Five9 from $75.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Morgan Stanley decreased their price objective on shares of Five9 from $45.00 to $37.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 15th. Finally, DA Davidson lifted their target price on Five9 from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Five9 currently has a consensus rating of “Moderate Buy” and an average price target of $59.22.

Insider Transactions at Five9

In other news, CFO Barry Zwarenstein sold 4,408 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 101,732 shares of the company’s stock, valued at $2,743,712.04. This trade represents a 4.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Daniel P. Burkland sold 2,605 shares of Five9 stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $33.41, for a total value of $87,033.05. Following the completion of the sale, the executive now owns 132,554 shares in the company, valued at approximately $4,428,629.14. This trade represents a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,493 shares of company stock worth $1,097,753. Company insiders own 1.80% of the company’s stock.

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.