Harvest Fund Management Co. Ltd Buys Shares of 7,796 Five9, Inc. (NASDAQ:FIVN)

Harvest Fund Management Co. Ltd bought a new stake in Five9, Inc. (NASDAQ:FIVN) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 7,796 shares of the software maker’s stock, valued at approximately $317,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FIVN. Natixis Advisors LLC purchased a new position in Five9 in the 3rd quarter valued at about $679,000. Quest Partners LLC purchased a new position in Five9 in the 3rd quarter valued at about $95,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Five9 in the 3rd quarter valued at about $1,716,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Five9 by 642.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 217,302 shares of the software maker’s stock valued at $6,243,000 after purchasing an additional 188,043 shares in the last quarter. Finally, Citizens Financial Group Inc. RI purchased a new position in Five9 in the 3rd quarter valued at about $309,000. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Five9 Trading Up 1.7 %

NASDAQ:FIVN opened at $30.14 on Friday. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32. The business’s 50 day moving average is $37.28 and its two-hundred day moving average is $35.71. Five9, Inc. has a 52 week low of $26.60 and a 52 week high of $63.79. The company has a market cap of $2.28 billion, a PE ratio of -150.69, a P/E/G ratio of 9.41 and a beta of 1.01.

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

Analyst Ratings Changes

A number of research analysts have recently commented on FIVN shares. Barclays upped their price objective on shares of Five9 from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Morgan Stanley upped their price objective on shares of Five9 from $40.00 to $46.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price objective on shares of Five9 in a research note on Monday, March 17th. Truist Financial reaffirmed a “buy” rating and set a $65.00 price objective on shares of Five9 in a research note on Tuesday, December 17th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $58.00 price objective on shares of Five9 in a research note on Thursday. Six equities 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.com, Five9 presently has an average rating of “Moderate Buy” and a consensus price target of $56.76.

Insiders Place Their Bets

In other Five9 news, 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 sale, the executive vice president now owns 126,359 shares of the company’s stock, valued at $4,220,390.60. The trade was a 5.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Burkland sold 12,595 shares of Five9 stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $35.63, for a total value of $448,759.85. Following the sale, the chief executive officer now directly owns 404,056 shares in the company, valued at $14,396,515.28. The trade was a 3.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,874 shares of company stock valued at $985,446 in the last quarter. 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.