Wellington Management Group LLP Purchases 601,348 Shares of Five9, Inc. (NASDAQ:FIVN)

Wellington Management Group LLP raised its position in shares of Five9, Inc. (NASDAQ:FIVN) by 50.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,783,870 shares of the software maker’s stock after acquiring an additional 601,348 shares during the period. Wellington Management Group LLP owned approximately 2.37% of Five9 worth $72,496,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in FIVN. Lindbrook Capital LLC boosted its stake in Five9 by 155.7% during the 4th quarter. Lindbrook Capital LLC now owns 854 shares of the software maker’s stock valued at $35,000 after purchasing an additional 520 shares during the period. Steward Partners Investment Advisory LLC grew its stake in shares of Five9 by 7,305.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,333 shares of the software maker’s stock worth $54,000 after acquiring an additional 1,315 shares during the last quarter. Venturi Wealth Management LLC increased its position in Five9 by 3,955.4% during the fourth quarter. Venturi Wealth Management LLC now owns 2,636 shares of the software maker’s stock worth $107,000 after acquiring an additional 2,571 shares during the period. FNY Investment Advisers LLC raised its stake in Five9 by 324.8% during the 4th quarter. FNY Investment Advisers LLC now owns 3,250 shares of the software maker’s stock valued at $132,000 after purchasing an additional 2,485 shares during the last quarter. Finally, KBC Group NV boosted its holdings in Five9 by 49.2% in the 4th quarter. KBC Group NV now owns 3,373 shares of the software maker’s stock valued at $137,000 after purchasing an additional 1,113 shares during the period. 96.64% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Five9 news, CAO Leena Mansharamani sold 1,135 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $30.20, for a total value of $34,277.00. Following the completion of the sale, the chief accounting officer now owns 47,165 shares of the company’s stock, valued at approximately $1,424,383. This represents a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Panos Kozanian sold 7,619 shares of Five9 stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $33.40, for a total transaction of $254,474.60. Following the transaction, the executive vice president now directly owns 126,359 shares in the company, valued at approximately $4,220,390.60. This represents a 5.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,574 shares of company stock worth $1,004,346. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on FIVN shares. Rosenblatt Securities restated a “buy” rating and set a $58.00 price objective on shares of Five9 in a report on Friday. Morgan Stanley boosted their price target on Five9 from $40.00 to $46.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 18th. Piper Sandler raised their price objective on Five9 from $46.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Truist Financial restated a “buy” rating and set a $65.00 price objective on shares of Five9 in a research report on Tuesday, December 17th. Finally, Barclays raised their target price on Five9 from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $56.76.

Five9 Stock Down 8.9 %

NASDAQ FIVN opened at $23.00 on Friday. The stock has a fifty day moving average of $35.20 and a 200-day moving average of $35.66. The stock has a market capitalization of $1.74 billion, a P/E ratio of -114.99, a price-to-earnings-growth ratio of 9.41 and a beta of 1.29. Five9, Inc. has a 52 week low of $22.09 and a 52 week high of $63.30. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.85 and a current ratio of 1.85.

Five9 (NASDAQ:FIVN) last announced its quarterly earnings data on Thursday, February 20th. The software maker reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.44). Five9 had a negative net margin of 1.23% and a positive return on equity of 3.62%. The business had revenue of $278.66 million during the quarter, compared to the consensus estimate of $267.70 million. On average, equities research analysts forecast that Five9, Inc. will post 0.28 EPS for the current year.

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.