Fifth Third Bancorp Sells 5,331 Shares of Five9, Inc. (NASDAQ:FIVN)

Fifth Third Bancorp reduced its stake in Five9, Inc. (NASDAQ:FIVN) by 87.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 740 shares of the software maker’s stock after selling 5,331 shares during the period. Fifth Third Bancorp’s holdings in Five9 were worth $58,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Lazard Asset Management LLC purchased a new stake in shares of Five9 during the first quarter valued at approximately $41,000. Neo Ivy Capital Management grew its holdings in shares of Five9 by 117.6% during the second quarter. Neo Ivy Capital Management now owns 470 shares of the software maker’s stock valued at $42,000 after buying an additional 254 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Five9 by 74.4% during the third quarter. Advisors Asset Management Inc. now owns 668 shares of the software maker’s stock valued at $43,000 after buying an additional 285 shares during the last quarter. Quarry LP purchased a new stake in shares of Five9 during the first quarter valued at approximately $43,000. Finally, State of Wyoming grew its holdings in shares of Five9 by 28.9% during the fourth quarter. State of Wyoming now owns 1,793 shares of the software maker’s stock valued at $122,000 after buying an additional 402 shares during the last quarter. Institutional investors own 96.64% of the company’s stock.

Five9 Stock Performance

NASDAQ:FIVN opened at $61.93 on Thursday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 5.53 and a current ratio of 5.53. The company has a fifty day moving average of $65.25 and a two-hundred day moving average of $69.12. The stock has a market capitalization of $4.57 billion, a PE ratio of -54.81 and a beta of 0.83. Five9, Inc. has a fifty-two week low of $51.01 and a fifty-two week high of $92.40.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings data on Wednesday, February 21st. The software maker reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.14. The company had revenue of $239.06 million during the quarter, compared to analysts’ expectations of $237.64 million. Five9 had a negative net margin of 8.98% and a negative return on equity of 12.51%. As a group, research analysts forecast that Five9, Inc. will post -0.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on FIVN shares. Piper Sandler increased their price target on shares of Five9 from $84.00 to $86.00 and gave the company an “overweight” rating in a report on Friday, January 12th. Wells Fargo & Company cut their price target on shares of Five9 from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, February 22nd. Needham & Company LLC restated a “buy” rating and issued a $90.00 target price on shares of Five9 in a report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Five9 from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, December 15th. Finally, Barclays dropped their target price on shares of Five9 from $105.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Five9 currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.80.

Insider Activity

In other news, COO Andy Dignan sold 7,340 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $57.28, for a total value of $420,435.20. Following the completion of the sale, the chief operating officer now directly owns 129,559 shares in the company, valued at $7,421,139.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.00% of the company’s stock.

About Five9

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States 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.