Horrell Capital Management Inc. Takes $3.30 Million Position in Five9, Inc. (NASDAQ:FIVN)

Horrell Capital Management Inc. acquired a new stake in Five9, Inc. (NASDAQ:FIVN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 115,000 shares of the software maker’s stock, valued at approximately $3,304,000.

A number of other hedge funds have also modified their holdings of FIVN. Signaturefd LLC increased its holdings in shares of Five9 by 1,892.3% in the third 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 period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Five9 in the second quarter valued at about $57,000. nVerses Capital LLC acquired a new position in shares of Five9 in the third quarter valued at about $141,000. Quent Capital LLC increased its holdings in shares of Five9 by 8.7% in the second quarter. Quent Capital LLC now owns 4,379 shares of the software maker’s stock valued at $193,000 after purchasing an additional 352 shares during the period. Finally, Cetera Advisors LLC acquired a new position in shares of Five9 in the first quarter valued at about $226,000. 96.64% of the stock is owned by institutional investors and hedge funds.

Five9 Price Performance

Shares of NASDAQ FIVN traded up $0.34 during midday trading on Tuesday, hitting $30.02. The stock had a trading volume of 447,734 shares, compared to its average volume of 1,451,591. The company has a market capitalization of $2.22 billion, a PE ratio of -34.92 and a beta of 0.85. The stock has a 50 day simple moving average of $29.81 and a 200-day simple moving average of $40.79. Five9, Inc. has a 1 year low of $26.60 and a 1 year high of $92.40. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 1.39.

Five9 (NASDAQ:FIVN) last released its earnings results on Thursday, August 8th. The software maker reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.14. Five9 had a negative return on equity of 6.59% and a negative net margin of 5.44%. The business had revenue of $252.09 million for the quarter, compared to the consensus estimate of $244.54 million. On average, sell-side analysts expect that Five9, Inc. will post -0.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FIVN. Roth Mkm lowered their target price on Five9 from $90.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Robert W. Baird downgraded Five9 from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $90.00 to $40.00 in a research note on Friday, August 9th. BTIG Research lowered their target price on Five9 from $100.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Baird R W downgraded Five9 from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Finally, Truist Financial restated a “buy” rating and issued a $65.00 target price on shares of Five9 in a research note on Tuesday, August 27th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Five9 presently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

Insider Activity at Five9

In related 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 value 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Five9 news, EVP Panos Kozanian sold 7,617 shares of the firm’s stock in a transaction 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 $2,300,372.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Daniel P. Burkland sold 2,637 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $43.55, for a total value of $114,841.35. Following the sale, the executive now directly owns 130,079 shares of the company’s stock, valued at approximately $5,664,940.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,130 shares of company stock valued at $1,212,594. 1.80% of the stock is currently owned by insiders.

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.