Geode Capital Management LLC Boosts Position in Five9, Inc. (FIVN)
Geode Capital Management LLC increased its stake in shares of Five9, Inc. (NASDAQ:FIVN) by 3.4% during the first quarter, Holdings Channel reports. The firm owned 332,171 shares of the software maker’s stock after buying an additional 11,064 shares during the period. Geode Capital Management LLC’s holdings in Five9 were worth $5,467,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the stock. Ameriprise Financial Inc. boosted its stake in Five9 by 37.5% in the first quarter. Ameriprise Financial Inc. now owns 436,896 shares of the software maker’s stock valued at $7,192,000 after buying an additional 119,150 shares during the period. Suntrust Banks Inc. bought a new stake in Five9 during the first quarter valued at $378,000. Bank of New York Mellon Corp boosted its stake in Five9 by 81.3% in the first quarter. Bank of New York Mellon Corp now owns 241,072 shares of the software maker’s stock valued at $3,969,000 after buying an additional 108,114 shares during the period. Capital Fund Management S.A. boosted its stake in Five9 by 33.2% in the first quarter. Capital Fund Management S.A. now owns 50,600 shares of the software maker’s stock valued at $833,000 after buying an additional 12,600 shares during the period. Finally, Kornitzer Capital Management Inc. KS boosted its stake in Five9 by 19.1% in the first quarter. Kornitzer Capital Management Inc. KS now owns 699,279 shares of the software maker’s stock valued at $11,510,000 after buying an additional 111,935 shares during the period. Hedge funds and other institutional investors own 92.81% of the company’s stock.
Five9, Inc. (NASDAQ FIVN) traded up 1.71% during trading on Friday, hitting $20.85. 45,098 shares of the company traded hands. The company’s 50 day moving average is $21.89 and its 200-day moving average is $19.39. Five9, Inc. has a 52 week low of $12.58 and a 52 week high of $24.80. The stock’s market capitalization is $1.15 billion.
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Several research firms have recently weighed in on FIVN. Northland Securities set a $25.00 price objective on shares of Five9 and gave the company a “buy” rating in a research report on Wednesday, July 19th. Morgan Stanley restated an “equal weight” rating and set a $21.00 price objective (up previously from $18.00) on shares of Five9 in a research report on Thursday, July 20th. Zacks Investment Research upgraded shares of Five9 from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Tuesday, July 4th. Canaccord Genuity raised their price objective on shares of Five9 from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Finally, BidaskClub cut shares of Five9 from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. Five9 has an average rating of “Buy” and a consensus price target of $22.29.
In other news, EVP Gaurav Passi sold 9,093 shares of the business’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $23.96, for a total value of $217,868.28. Following the transaction, the executive vice president now owns 118,882 shares of the company’s stock, valued at $2,848,412.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott Welch sold 3,902 shares of the business’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $21.82, for a total transaction of $85,141.64. Following the completion of the transaction, the executive vice president now directly owns 150,719 shares in the company, valued at approximately $3,288,688.58. The disclosure for this sale can be found here. Insiders sold 253,773 shares of company stock worth $5,531,835 in the last three months. Insiders own 9.10% of the company’s stock.
Five9 Inc (Five9) is a provider of cloud software for contact centers. The Company’s purpose-built Virtual Contact Center (VCC) cloud platform delivers a suite of applications that enable the breadth of contact center-related customer service, sales and marketing functions. The Company’s solution, which consists of its VCC cloud platform and applications, allows simultaneous management and optimization of customer interactions across voice, chat, e-mail, Web, social media and mobile channels, either directly or through its application programming interfaces (APIs).
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