Millennium Management LLC Cuts Holdings in Five9 Inc (FIVN)
Millennium Management LLC cut its stake in Five9 Inc (NASDAQ:FIVN) by 66.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 178,088 shares of the software maker’s stock after selling 346,593 shares during the quarter. Millennium Management LLC owned about 0.30% of Five9 worth $7,786,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Flinton Capital Management LLC purchased a new position in Five9 in the fourth quarter valued at about $30,000. Mckinley Capital Management LLC Delaware purchased a new stake in shares of Five9 during the fourth quarter worth about $34,000. Private Capital Group LLC increased its position in shares of Five9 by 263.4% during the fourth quarter. Private Capital Group LLC now owns 1,061 shares of the software maker’s stock worth $46,000 after acquiring an additional 769 shares during the last quarter. Bank of Montreal Can increased its position in shares of Five9 by 58.3% during the fourth quarter. Bank of Montreal Can now owns 1,135 shares of the software maker’s stock worth $49,000 after acquiring an additional 418 shares during the last quarter. Finally, Strs Ohio increased its position in shares of Five9 by 112.5% during the fourth quarter. Strs Ohio now owns 3,400 shares of the software maker’s stock worth $148,000 after acquiring an additional 1,800 shares during the last quarter.
A number of analysts have recently issued reports on FIVN shares. Morgan Stanley raised Five9 from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $37.00 to $54.00 in a research report on Monday, January 7th. Needham & Company LLC lifted their target price on Five9 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, February 20th. Bank of America reaffirmed an “underperform” rating and set a $33.00 target price (up from $28.00) on shares of Five9 in a research report on Wednesday, February 20th. KeyCorp reaffirmed a “hold” rating on shares of Five9 in a research report on Tuesday, February 19th. Finally, Canaccord Genuity lifted their target price on Five9 from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, February 20th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $52.38.
NASDAQ:FIVN opened at $50.52 on Thursday. The stock has a market capitalization of $2.92 billion, a P/E ratio of 336.80 and a beta of 0.62. Five9 Inc has a one year low of $26.92 and a one year high of $57.90. The company has a debt-to-equity ratio of 1.41, a current ratio of 6.96 and a quick ratio of 6.96.
Five9 (NASDAQ:FIVN) last posted its quarterly earnings results on Tuesday, February 19th. The software maker reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.10. The business had revenue of $72.34 million during the quarter, compared to the consensus estimate of $66.53 million. Five9 had a positive return on equity of 7.20% and a negative net margin of 0.09%. On average, analysts predict that Five9 Inc will post -0.05 EPS for the current year.
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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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