Rock Creek Group LP Invests $1.99 Million in Five9, Inc. $FIVN

Rock Creek Group LP purchased a new stake in Five9, Inc. (NASDAQ:FIVN) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 75,000 shares of the software maker’s stock, valued at approximately $1,986,000. Five9 accounts for approximately 0.2% of Rock Creek Group LP’s investment portfolio, making the stock its 27th biggest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC bought a new position in Five9 during the 2nd quarter worth $32,000. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Five9 by 419.2% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,243 shares of the software maker’s stock valued at $61,000 after acquiring an additional 1,811 shares in the last quarter. Quarry LP bought a new position in Five9 during the first quarter worth about $74,000. Northwestern Mutual Wealth Management Co. increased its position in Five9 by 11,392.9% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,218 shares of the software maker’s stock worth $87,000 after acquiring an additional 3,190 shares during the period. Finally, Bayforest Capital Ltd acquired a new stake in Five9 in the 1st quarter worth about $127,000. 96.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, President Andy Dignan sold 7,614 shares of the firm’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $25.48, for a total transaction of $194,004.72. Following the sale, the president owned 218,125 shares of the company’s stock, valued at $5,557,825. This trade represents a 3.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Leena Mansharamani sold 2,969 shares of the business’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $25.85, for a total value of $76,748.65. Following the sale, the chief accounting officer owned 41,522 shares in the company, valued at $1,073,343.70. This represents a 6.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 53,738 shares of company stock valued at $1,380,677. 1.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FIVN shares. Zacks Research lowered shares of Five9 from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Five9 in a research note on Wednesday. Cantor Fitzgerald lowered their price objective on Five9 from $36.00 to $32.00 and set an “overweight” rating on the stock in a research note on Friday, November 7th. Morgan Stanley set a $30.00 price objective on Five9 in a report on Tuesday, October 21st. Finally, DA Davidson reiterated a “neutral” rating and set a $28.00 target price on shares of Five9 in a research report on Friday, September 12th. Thirteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.19.

Five9 Stock Up 6.5%

Shares of FIVN opened at $18.94 on Friday. The firm has a 50 day simple moving average of $22.75 and a two-hundred day simple moving average of $25.46. The company has a debt-to-equity ratio of 1.04, a current ratio of 4.44 and a quick ratio of 4.44. Five9, Inc. has a one year low of $17.71 and a one year high of $49.90. The company has a market cap of $1.48 billion, a P/E ratio of 210.47, a P/E/G ratio of 2.20 and a beta of 1.27.

Five9 (NASDAQ:FIVN) last issued its quarterly earnings results on Friday, August 22nd. The software maker reported $0.76 earnings per share (EPS) for the quarter. Five9 had a return on equity of 8.91% and a net margin of 0.80%.The company had revenue of $283.27 million for the quarter. Research analysts forecast that Five9, Inc. will post 0.28 EPS for the current fiscal year.

Five9 declared that its board has approved a stock repurchase plan on Tuesday, November 11th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the software maker to repurchase up to 3.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

About Five9

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.