Point72 Hong Kong Ltd Purchases 14,288 Shares of Five9, Inc. (NASDAQ:FIVN)

Point72 Hong Kong Ltd lifted its position in Five9, Inc. (NASDAQ:FIVN) by 153.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,601 shares of the software maker’s stock after buying an additional 14,288 shares during the period. Point72 Hong Kong Ltd’s holdings in Five9 were worth $678,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in FIVN. Neo Ivy Capital Management purchased a new stake in Five9 during the 2nd quarter valued at $2,177,000. Scalar Gauge Management LLC bought a new position in shares of Five9 during the second quarter valued at $6,990,000. King Luther Capital Management Corp purchased a new stake in shares of Five9 during the second quarter valued at $2,062,000. Massachusetts Financial Services Co. MA increased its holdings in Five9 by 14.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,667,922 shares of the software maker’s stock worth $47,919,000 after buying an additional 210,836 shares in the last quarter. Finally, Van Berkom & Associates Inc. raised its position in Five9 by 52.3% in the 2nd quarter. Van Berkom & Associates Inc. now owns 1,299,483 shares of the software maker’s stock worth $57,307,000 after buying an additional 446,151 shares during the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on FIVN. Roth Mkm reduced their price target on shares of Five9 from $90.00 to $67.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Piper Sandler lifted their target price on shares of Five9 from $35.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Robert W. Baird increased their price target on Five9 from $40.00 to $43.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Baird R W downgraded Five9 from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Finally, Morgan Stanley reduced their price objective on Five9 from $45.00 to $37.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 15th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $59.22.

Insiders Place Their Bets

In other Five9 news, CFO Barry Zwarenstein sold 4,408 shares of the company’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 transaction, the chief financial officer now directly owns 101,732 shares in the company, valued at $2,743,712.04. This represents a 4.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Andy Dignan sold 4,245 shares of Five9 stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $30.26, for a total transaction of $128,453.70. Following the sale, the chief operating officer now owns 119,927 shares in the company, valued at approximately $3,628,991.02. The trade was a 3.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,888 shares of company stock worth $1,010,720. Corporate insiders own 1.80% of the company’s stock.

Five9 Stock Up 0.7 %

Shares of FIVN stock opened at $41.57 on Tuesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85. Five9, Inc. has a one year low of $26.60 and a one year high of $92.40. The company’s fifty day moving average price is $33.00 and its 200-day moving average price is $37.26. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of -83.14, a PEG ratio of 24.91 and a beta of 0.85.

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.