Kornitzer Capital Management Inc. KS Reduces Stock Position in Five9, Inc. (NASDAQ:FIVN)

Kornitzer Capital Management Inc. KS lowered its stake in Five9, Inc. (NASDAQ:FIVN) by 51.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 112,615 shares of the software maker’s stock after selling 118,995 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.15% of Five9 worth $8,862,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its holdings in Five9 by 84.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 837,856 shares of the software maker’s stock worth $65,931,000 after purchasing an additional 383,002 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Five9 by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,236,249 shares of the software maker’s stock valued at $465,291,000 after purchasing an additional 227,183 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of Five9 by 966.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 348,536 shares of the software maker’s stock valued at $22,411,000 after purchasing an additional 315,867 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Five9 by 11.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 819,615 shares of the software maker’s stock valued at $52,701,000 after acquiring an additional 81,744 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Five9 by 7.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 382,237 shares of the software maker’s stock valued at $30,078,000 after acquiring an additional 25,075 shares during the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FIVN. Barclays dropped their price objective on shares of Five9 from $105.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, February 22nd. Wells Fargo & Company reduced their price objective on shares of Five9 from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, February 22nd. Piper Sandler boosted their price objective on shares of Five9 from $84.00 to $86.00 and gave the stock an “overweight” rating in a research note on Friday, January 12th. Morgan Stanley dropped their target price on shares of Five9 from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, KeyCorp lowered their price target on shares of Five9 from $93.00 to $86.00 and set an “overweight” rating on the stock in a report on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $87.13.

Insiders Place Their Bets

In other news, COO Andy Dignan sold 7,340 shares of Five9 stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $57.28, for a total value of $420,435.20. Following the transaction, the chief operating officer now directly owns 129,559 shares of the company’s stock, valued at approximately $7,421,139.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Five9 Stock Down 0.6 %

Five9 stock traded down $0.33 during trading on Friday, reaching $57.09. The stock had a trading volume of 1,035,234 shares, compared to its average volume of 1,088,910. Five9, Inc. has a 52-week low of $51.01 and a 52-week high of $92.40. The business has a 50 day moving average price of $62.57 and a 200 day moving average price of $68.74. The company has a quick ratio of 5.53, a current ratio of 5.53 and a debt-to-equity ratio of 1.38. The stock has a market cap of $4.22 billion, a PE ratio of -50.52 and a beta of 0.83.

Five9 (NASDAQ:FIVN) last released its quarterly earnings data on Wednesday, February 21st. The software maker reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.14. Five9 had a negative net margin of 8.98% and a negative return on equity of 12.51%. The company had revenue of $239.06 million for the quarter, compared to analysts’ expectations of $237.64 million. On average, analysts predict that Five9, Inc. will post -0.42 EPS for the current year.

About Five9

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States 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.