Harvey Capital Management Inc. Trims Stock Holdings in Five9, Inc. (NASDAQ:FIVN)

Harvey Capital Management Inc. lessened its stake in shares of Five9, Inc. (NASDAQ:FIVN) by 19.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,410 shares of the software maker’s stock after selling 11,366 shares during the quarter. Harvey Capital Management Inc. owned 0.06% of Five9 worth $1,967,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FIVN. Signaturefd LLC lifted 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 worth $30,000 after acquiring an additional 984 shares during the last quarter. FNY Investment Advisers LLC lifted its stake in Five9 by 324.8% during the fourth quarter. FNY Investment Advisers LLC now owns 3,250 shares of the software maker’s stock worth $132,000 after purchasing an additional 2,485 shares in the last quarter. Quest Partners LLC acquired a new position in Five9 during the third quarter worth $95,000. KBC Group NV boosted its position in shares of Five9 by 49.2% during the fourth quarter. KBC Group NV now owns 3,373 shares of the software maker’s stock worth $137,000 after buying an additional 1,113 shares during the period. Finally, nVerses Capital LLC acquired a new stake in shares of Five9 in the third quarter valued at $141,000. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Five9 Stock Down 0.9 %

NASDAQ FIVN opened at $40.65 on Wednesday. The firm’s fifty day moving average price is $40.75 and its 200 day moving average price is $35.95. Five9, Inc. has a 12 month low of $26.60 and a 12 month high of $79.43. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32.

Insider Buying and Selling at Five9

In related news, CEO Michael Burkland sold 12,594 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $41.40, for a total transaction of $521,391.60. Following the completion of the sale, the chief executive officer now owns 240,894 shares in the company, valued at $9,973,011.60. This represents a 4.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Panos Kozanian sold 7,619 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $42.09, for a total transaction of $320,683.71. Following the transaction, the executive vice president now directly owns 69,009 shares in the company, valued at $2,904,588.81. The trade was a 9.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,004 shares of company stock worth $1,209,279 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

FIVN has been the topic of several research reports. DA Davidson increased their target price on Five9 from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Robert W. Baird raised their price objective 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. Truist Financial reaffirmed a “buy” rating and set a $65.00 target price on shares of Five9 in a research note on Tuesday, December 17th. Morgan Stanley increased their target price on shares of Five9 from $40.00 to $46.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 18th. Finally, Rosenblatt Securities boosted their price target on shares of Five9 from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.50.

Five9 Company Profile

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.