Oppenheimer Asset Management Inc. Sells 23,583 Shares of Five9, Inc. (NASDAQ:FIVN)

Oppenheimer Asset Management Inc. lessened its position in Five9, Inc. (NASDAQ:FIVN) by 57.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,202 shares of the software maker’s stock after selling 23,583 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Five9 were worth $494,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Signaturefd LLC grew its position 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 last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Five9 in the 2nd quarter valued at approximately $57,000. nVerses Capital LLC bought a new position in Five9 in the 3rd quarter worth approximately $141,000. Quent Capital LLC lifted its holdings 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 buying an additional 352 shares during the last quarter. Finally, Cetera Advisors LLC bought a new stake in shares of Five9 in the first quarter valued at approximately $226,000. Institutional investors and hedge funds own 96.64% of the company’s stock.

Insider Activity

In other Five9 news, CRO Daniel P. Burkland sold 2,605 shares of Five9 stock in a transaction on Monday, August 26th. The stock was sold at an average price of $33.41, for a total value of $87,033.05. Following the completion of the transaction, the executive now owns 132,554 shares in the company, valued at approximately $4,428,629.14. The trade was a 1.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Panos Kozanian sold 7,617 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 76,628 shares in the company, valued at approximately $2,300,372.56. This represents a 9.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,493 shares of company stock worth $1,097,753. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company lowered shares of Five9 from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $55.00 to $40.00 in a research report on Tuesday, November 12th. Roth Mkm cut their price objective on shares of Five9 from $90.00 to $67.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Needham & Company LLC reissued a “buy” rating and set a $48.00 target price on shares of Five9 in a research report on Friday, November 8th. Baird R W cut Five9 from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Finally, BTIG Research decreased their price objective on Five9 from $100.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.22.

Five9 Price Performance

NASDAQ:FIVN opened at $37.68 on Wednesday. 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 $2.83 billion, a PE ratio of -75.36, a price-to-earnings-growth ratio of 22.98 and a beta of 0.85. Five9, Inc. has a 12 month low of $26.60 and a 12 month high of $92.40. The company’s 50-day moving average price is $30.55 and its two-hundred day moving average price is $38.27.

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.