Lyon Street Capital LLC Takes Position in Five9, Inc. (FIVN)
Lyon Street Capital LLC acquired a new position in shares of Five9, Inc. (NASDAQ:FIVN) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 179,580 shares of the software maker’s stock, valued at approximately $3,865,000. Five9 comprises 1.6% of Lyon Street Capital LLC’s investment portfolio, making the stock its 26th largest holding. Lyon Street Capital LLC owned 0.33% of Five9 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Whale Rock Capital Management LLC acquired a new position in shares of Five9 during the 2nd quarter worth about $21,296,000. Macquarie Group Ltd. increased its stake in shares of Five9 by 30.7% during the 2nd quarter. Macquarie Group Ltd. now owns 124,254 shares of the software maker’s stock worth $2,674,000 after purchasing an additional 29,200 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Five9 by 58.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 191,864 shares of the software maker’s stock worth $4,129,000 after purchasing an additional 70,738 shares during the last quarter. Tudor Investment Corp ET AL acquired a new position in shares of Five9 during the 2nd quarter worth about $202,000. Finally, PDT Partners LLC increased its stake in shares of Five9 by 11.3% during the 2nd quarter. PDT Partners LLC now owns 74,085 shares of the software maker’s stock worth $1,594,000 after purchasing an additional 7,500 shares during the last quarter. Institutional investors own 91.24% of the company’s stock.
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In other news, EVP Daniel P. Burkland sold 10,000 shares of Five9 stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $20.41, for a total value of $204,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Barry Zwarenstein sold 3,020 shares of Five9 stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $21.01, for a total transaction of $63,450.20. Following the completion of the transaction, the chief financial officer now owns 126,722 shares of the company’s stock, valued at approximately $2,662,429.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 114,007 shares of company stock worth $2,489,510. Insiders own 9.10% of the company’s stock.
Shares of Five9, Inc. (NASDAQ:FIVN) traded up 0.257% on Thursday, reaching $25.345. 169,840 shares of the company were exchanged. The company’s 50 day moving average is $21.93 and its 200 day moving average is $20.94. Five9, Inc. has a 12-month low of $12.58 and a 12-month high of $25.50. The firm’s market capitalization is $1.40 billion.
Several research analysts have recently weighed in on the stock. Northland Securities restated a “buy” rating and set a $25.00 price objective on shares of Five9 in a research note on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $26.00 price target (up previously from $21.00) on shares of Five9 in a research note on Wednesday, August 9th. Canaccord Genuity upped their price target on shares of Five9 from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, August 4th. KeyCorp reiterated a “buy” rating and issued a $27.00 price target on shares of Five9 in a research note on Friday, September 22nd. Finally, Zacks Investment Research lowered shares of Five9 from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. Five9 has a consensus rating of “Buy” and a consensus target price of $23.00.
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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