Hussman Strategic Advisors Inc. acquired a new stake in Five9, Inc. (NASDAQ:FIVN – Free Report) during the third quarter, HoldingsChannel reports. The fund acquired 42,000 shares of the software maker’s stock, valued at approximately $1,016,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Global Retirement Partners LLC lifted its stake in shares of Five9 by 81.7% in the 3rd quarter. Global Retirement Partners LLC now owns 1,228 shares of the software maker’s stock valued at $30,000 after purchasing an additional 552 shares during the period. Nisa Investment Advisors LLC bought a new stake in Five9 in the second quarter valued at about $32,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Five9 in the third quarter valued at about $45,000. CWM LLC lifted its stake in Five9 by 800.6% in the third quarter. CWM LLC now owns 3,179 shares of the software maker’s stock valued at $77,000 after buying an additional 2,826 shares during the period. Finally, State of Alaska Department of Revenue bought a new position in Five9 during the third quarter worth about $86,000. Institutional investors own 96.64% of the company’s stock.
Five9 Stock Down 0.5%
Five9 stock opened at $18.27 on Thursday. The company has a 50 day moving average of $19.66 and a 200-day moving average of $22.89. The company has a quick ratio of 4.61, a current ratio of 4.61 and a debt-to-equity ratio of 0.96. Five9, Inc. has a twelve month low of $16.96 and a twelve month high of $49.90. The stock has a market capitalization of $1.43 billion, a PE ratio of 50.75, a price-to-earnings-growth ratio of 0.93 and a beta of 1.32.
Five9 announced that its Board of Directors has approved a share buyback program on Tuesday, November 11th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the software maker to reacquire up to 3.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on FIVN. Zacks Research raised Five9 from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 5th. Piper Sandler downgraded shares of Five9 from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $26.00 to $21.00 in a research note on Monday, January 5th. Wall Street Zen lowered shares of Five9 from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 20th. Morgan Stanley decreased their price target on shares of Five9 from $30.00 to $26.00 and set an “equal weight” rating for the company in a report on Thursday, January 15th. Finally, Barclays dropped their price objective on Five9 from $29.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $32.07.
Insider Buying and Selling
In other news, CRO Matthew E. Tuckness sold 5,255 shares of the company’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $20.35, for a total transaction of $106,939.25. Following the completion of the transaction, the executive directly owned 176,379 shares of the company’s stock, valued at $3,589,312.65. This represents a 2.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tiffany N. Meriweather sold 6,852 shares of the stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $20.35, for a total value of $139,438.20. Following the transaction, the insider owned 212,126 shares of the company’s stock, valued at approximately $4,316,764.10. The trade was a 3.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 66,039 shares of company stock valued at $1,347,231. Corporate insiders own 1.60% of the company’s stock.
Five9 Company Profile
Five9, Inc (NASDAQ: FIVN) is a leading provider of cloud-based contact center software designed to help organizations manage customer interactions across voice, email, chat, social media and other digital channels. Its platform offers features such as intelligent routing, analytics, workforce optimization and integrated customer relationship management (CRM) connectors. The company emphasizes AI-driven capabilities, including virtual agents and predictive dialing, to enhance both agent productivity and customer experience.
Founded in 2001 and headquartered in San Ramon, California, Five9 completed its initial public offering in February 2014.
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