Granite Investment Partners LLC raised its position in shares of Five9, Inc. (NASDAQ:FIVN) by 5.5% during the second quarter, Holdings Channel reports. The institutional investor owned 686,521 shares of the software maker’s stock after buying an additional 35,837 shares during the period. Five9 makes up 1.0% of Granite Investment Partners LLC’s portfolio, making the stock its 21st largest position. Granite Investment Partners LLC’s holdings in Five9 were worth $14,774,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of FIVN. Oxford Asset Management bought a new position in Five9 during the first quarter worth $174,000. potrero capital research llc bought a new position in Five9 during the first quarter worth $227,000. KCG Holdings Inc. bought a new position in Five9 during the first quarter worth $236,000. Sei Investments Co. boosted its position in Five9 by 41.0% in the second quarter. Sei Investments Co. now owns 13,322 shares of the software maker’s stock worth $287,000 after buying an additional 3,871 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Five9 by 2,581.2% in the first quarter. Tower Research Capital LLC TRC now owns 18,795 shares of the software maker’s stock worth $309,000 after buying an additional 18,094 shares during the last quarter. Hedge funds and other institutional investors own 92.81% of the company’s stock.
Five9, Inc. (NASDAQ FIVN) opened at 21.88 on Thursday. The firm has a 50-day moving average of $21.95 and a 200-day moving average of $19.39. The stock’s market cap is $1.19 billion. Five9, Inc. has a 1-year low of $12.27 and a 1-year high of $24.80.
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A number of research analysts have weighed in on FIVN shares. Northland Securities set a $25.00 target price on shares of Five9 and gave the company a “buy” rating in a research note on Wednesday, July 19th. Zacks Investment Research raised shares of Five9 from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Tuesday, July 4th. BidaskClub lowered shares of Five9 from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. Pacific Crest reissued a “buy” rating and issued a $22.00 price target on shares of Five9 in a research report on Thursday, May 4th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $20.00 price target on shares of Five9 in a research report on Monday, May 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $22.29.
In related news, CEO Michael Burkland sold 24,000 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $21.86, for a total value of $524,640.00. Following the sale, the chief executive officer now owns 988,575 shares in the company, valued at $21,610,249.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Barry Zwarenstein sold 12,023 shares of the business’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $21.81, for a total transaction of $262,221.63. The disclosure for this sale can be found here. Insiders sold 237,485 shares of company stock worth $5,189,765 in the last 90 days. 9.10% of the stock is currently owned by company insiders.
Five9 Company Profile
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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