AE Wealth Management LLC Takes $399,000 Position in Five9 Inc (NASDAQ:FIVN)
AE Wealth Management LLC acquired a new stake in Five9 Inc (NASDAQ:FIVN) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 5,214 shares of the software maker’s stock, valued at approximately $399,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Freestone Capital Holdings LLC bought a new position in shares of Five9 in the 4th quarter valued at about $13,121,000. Sowell Financial Services LLC grew its position in shares of Five9 by 203.3% in the 4th quarter. Sowell Financial Services LLC now owns 1,462 shares of the software maker’s stock valued at $96,000 after acquiring an additional 980 shares during the period. Aigen Investment Management LP bought a new position in shares of Five9 in the 4th quarter valued at about $189,000. Creative Planning acquired a new stake in shares of Five9 during the 1st quarter worth about $231,000. Finally, First Mercantile Trust Co. acquired a new stake in shares of Five9 during the 4th quarter worth about $244,000.
A number of research firms have recently issued reports on FIVN. Craig Hallum raised their target price on shares of Five9 from $90.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. BidaskClub upgraded shares of Five9 from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 21st. Bank of America raised their target price on shares of Five9 from $43.00 to $51.00 and gave the stock an “underperform” rating in a research note on Thursday, February 20th. BTIG Research began coverage on shares of Five9 in a research note on Thursday, April 16th. They set a “buy” rating and a $100.00 target price for the company. Finally, Barclays raised their target price on shares of Five9 from $71.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $92.41.
Five9 (NASDAQ:FIVN) last released its earnings results on Monday, May 4th. The software maker reported $0.17 EPS for the quarter, beating the consensus estimate of $0.15 by $0.02. Five9 had a negative net margin of 2.89% and a positive return on equity of 3.21%. The firm had revenue of $95.10 million for the quarter, compared to analyst estimates of $89.58 million. During the same period last year, the firm earned $0.16 EPS. The business’s quarterly revenue was up 27.7% compared to the same quarter last year. Equities analysts predict that Five9 Inc will post -0.18 EPS for the current year.
In related news, President Daniel P. Burkland sold 1,155 shares of Five9 stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $73.35, for a total transaction of $84,719.25. Following the sale, the president now directly owns 117,682 shares of the company’s stock, valued at approximately $8,631,974.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Barry Zwarenstein sold 3,048 shares of Five9 stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $73.25, for a total transaction of $223,266.00. Following the sale, the chief financial officer now directly owns 114,790 shares in the company, valued at $8,408,367.50. The disclosure for this sale can be found here. Insiders have sold a total of 181,112 shares of company stock worth $14,146,493 over the last ninety days. 3.00% of the stock is currently owned by insiders.
Five9, Inc, together with its subsidiaries, provides cloud software for contact centers in the United States and internationally. The company offers 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; and acts as a hub for omnichannel engagement between the clients and their customers, which enables them to manage the end-to-end customer experience in a single unified architecture.
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