Northpointe Capital LLC cut its stake in shares of Five9 Inc. (NASDAQ:FIVN) by 40.3% during the second quarter, Holdings Channel reports. The firm owned 320,473 shares of the company’s stock after selling 216,011 shares during the period. Northpointe Capital LLC’s holdings in Five9 were worth $3,814,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the stock. Metropolitan Life Insurance Co. NY bought a new position in Five9 during the first quarter valued at about $164,000. Bollard Group LLC bought a new position in Five9 during the second quarter valued at about $254,000. Hamilton Lane Advisors LLC bought a new position in Five9 during the second quarter valued at about $292,000. American Century Companies Inc. bought a new position in Five9 during the second quarter valued at about $589,000. Finally, Harvest Capital Strategies LLC bought a new position in Five9 during the first quarter valued at about $667,000. Institutional investors own 83.84% of the company’s stock.
Five9 Inc. (NASDAQ:FIVN) traded up 0.44% during midday trading on Tuesday, hitting $15.94. The company had a trading volume of 591,427 shares. The company’s market cap is $837.71 million. Five9 Inc. has a 12 month low of $3.63 and a 12 month high of $16.40. The firm has a 50-day moving average price of $14.70 and a 200-day moving average price of $11.72.
Five9 (NASDAQ:FIVN) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.05. Five9 had a negative return on equity of 65.04% and a negative net margin of 12.36%. The firm had revenue of $38.90 million for the quarter, compared to analyst estimates of $36.86 million. During the same quarter in the prior year, the company earned ($0.10) EPS. Five9’s revenue was up 31.7% on a year-over-year basis. Equities analysts anticipate that Five9 Inc. will post ($0.14) EPS for the current year.
Several equities analysts have issued reports on the company. Craig Hallum assumed coverage on Five9 in a research note on Thursday, June 9th. They issued a “buy” rating and a $16.00 target price on the stock. Bank of America Corp. lowered Five9 from a “neutral” rating to an “underperform” rating in a research note on Tuesday, September 20th. Barclays PLC lifted their target price on Five9 from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, August 4th. Finally, Needham & Company LLC lifted their target price on Five9 from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $13.44.
In related news, insider Daniel P. Burkland sold 2,626 shares of the stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $15.75, for a total transaction of $41,359.50. Following the transaction, the insider now owns 121,893 shares of the company’s stock, valued at approximately $1,919,814.75. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael Burkland sold 16,000 shares of the stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $12.12, for a total value of $193,920.00. Following the transaction, the chief executive officer now directly owns 953,000 shares in the company, valued at approximately $11,550,360. The disclosure for this sale can be found here. Corporate insiders own 40.20% 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. It facilitates over three billion interactions between its 2,000 clients and clients’ customers per year.
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