Potrero Capital Research LLC Acquires New Position in Five9, Inc. (NASDAQ:FIVN)

Potrero Capital Research LLC acquired a new stake in shares of Five9, Inc. (NASDAQ:FIVN) during the 3rd quarter, Holdings Channel reports. The fund acquired 543,346 shares of the software maker’s stock, valued at approximately $15,610,000. Five9 makes up 4.9% of Potrero Capital Research LLC’s holdings, making the stock its 7th biggest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. Neo Ivy Capital Management purchased a new position in Five9 during the second quarter worth approximately $2,177,000. Scalar Gauge Management LLC purchased a new position in Five9 during the second quarter worth approximately $6,990,000. King Luther Capital Management Corp purchased a new position in Five9 during the second quarter worth approximately $2,062,000. Massachusetts Financial Services Co. MA raised its stake in Five9 by 14.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,667,922 shares of the software maker’s stock worth $47,919,000 after purchasing an additional 210,836 shares during the period. Finally, Van Berkom & Associates Inc. raised its stake in Five9 by 52.3% during the second quarter. Van Berkom & Associates Inc. now owns 1,299,483 shares of the software maker’s stock worth $57,307,000 after purchasing an additional 446,151 shares during the period. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on FIVN. Barclays dropped their price objective on shares of Five9 from $75.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Northland Securities dropped their price objective on shares of Five9 from $95.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Wells Fargo & Company lowered shares of Five9 from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $55.00 to $40.00 in a research report on Tuesday, November 12th. Roth Mkm dropped 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. Finally, Rosenblatt Securities increased their price objective on shares of Five9 from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.22.

Five9 Trading Down 0.3 %

NASDAQ FIVN opened at $41.46 on Wednesday. Five9, Inc. has a 12 month low of $26.60 and a 12 month high of $92.40. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of -82.92, a price-to-earnings-growth ratio of 25.09 and a beta of 0.92. The company’s fifty day moving average price is $33.27 and its two-hundred day moving average price is $37.18.

Insider Transactions at Five9

In related news, CFO Barry Zwarenstein sold 4,408 shares of Five9 stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $26.97, for a total value of $118,883.76. Following the sale, the chief financial officer now directly owns 101,732 shares in the company, valued at $2,743,712.04. This trade represents a 4.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.80% of the company’s stock.

Five9 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.