California Public Employees Retirement System Cuts Position in Five9, Inc. (NASDAQ:FIVN)

California Public Employees Retirement System lowered its position in Five9, Inc. (NASDAQ:FIVN – Get Rating) by 6.7% in the fourth quarter, Holdings Channel reports. The fund owned 129,467 shares of the software maker’s stock after selling 9,230 shares during the period. California Public Employees Retirement System’s holdings in Five9 were worth $8,786,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in FIVN. MetLife Investment Management LLC purchased a new position in Five9 in the first quarter valued at $482,000. Raymond James Trust N.A. purchased a new position in shares of Five9 in the 1st quarter valued at about $212,000. Cetera Investment Advisers lifted its stake in Five9 by 15.4% during the first quarter. Cetera Investment Advisers now owns 3,223 shares of the software maker’s stock worth $356,000 after purchasing an additional 430 shares during the last quarter. Zions Bancorporation N.A. acquired a new position in Five9 in the first quarter valued at approximately $613,000. Finally, Prudential Financial Inc. raised its holdings in Five9 by 10.7% during the first quarter. Prudential Financial Inc. now owns 2,806 shares of the software maker’s stock worth $310,000 after purchasing an additional 272 shares in the last quarter.

Insider Buying and Selling

In related news, CFO Barry Zwarenstein sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $61.84, for a total transaction of $309,200.00. Following the sale, the chief financial officer now directly owns 112,303 shares in the company, valued at approximately $6,944,817.52. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CRO Daniel P. Burkland sold 547 shares of Five9 stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $68.02, for a total value of $37,206.94. Following the completion of the transaction, the executive now directly owns 147,157 shares in the company, valued at $10,009,619.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Barry Zwarenstein sold 5,000 shares of the company’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $61.84, for a total value of $309,200.00. Following the transaction, the chief financial officer now owns 112,303 shares of the company’s stock, valued at $6,944,817.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,514 shares of company stock valued at $2,409,180. 2.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

FIVN has been the subject of several research analyst reports. William Blair reissued an “outperform” rating on shares of Five9 in a report on Wednesday, February 22nd. Rosenblatt Securities assumed coverage on Five9 in a research report on Thursday, March 23rd. They set a “buy” rating and a $85.00 price objective for the company. StockNews.com started coverage on Five9 in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Northland Securities raised their target price on shares of Five9 from $80.00 to $85.00 in a research note on Thursday, February 23rd. Finally, KeyCorp upped their price objective on Five9 from $86.00 to $94.00 and gave the stock an “overweight” rating in a report on Thursday, February 23rd. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $84.68.

Five9 Stock Up 0.3 %

Shares of NASDAQ:FIVN opened at $54.50 on Wednesday. The company has a market capitalization of $3.88 billion, a P/E ratio of -43.95 and a beta of 0.73. The stock’s fifty day simple moving average is $63.92 and its 200-day simple moving average is $67.16. Five9, Inc. has a 52-week low of $46.61 and a 52-week high of $120.39. The company has a quick ratio of 5.00, a current ratio of 5.00 and a debt-to-equity ratio of 2.18.

Five9 (NASDAQ:FIVN – Get Rating) last released its earnings results on Wednesday, February 22nd. The software maker reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.16. The company had revenue of $208.35 million for the quarter, compared to analyst estimates of $204.47 million. Five9 had a negative net margin of 10.78% and a negative return on equity of 21.77%. As a group, equities research analysts forecast that Five9, Inc. will post -0.87 earnings per share for the current fiscal year.

Five9 Profile

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Five9, Inc engages in the provision of cloud software for contact centers. It specializes in omnichannel routing, analytics, workforce organization and reporting. The company was founded in December 2001 and is headquartered in San Ramon, CA.