BlueMountain Capital Management LLC Trims Holdings in Five9 Inc (FIVN)

BlueMountain Capital Management LLC trimmed its stake in Five9 Inc (NASDAQ:FIVN) by 45.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,196 shares of the software maker’s stock after selling 11,901 shares during the quarter. BlueMountain Capital Management LLC’s holdings in Five9 were worth $491,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Five9 by 11.1% in the second quarter. BlackRock Inc. now owns 4,072,663 shares of the software maker’s stock worth $140,794,000 after purchasing an additional 406,173 shares during the period. Tremblant Capital Group grew its holdings in Five9 by 7.5% in the first quarter. Tremblant Capital Group now owns 1,214,591 shares of the software maker’s stock worth $36,183,000 after purchasing an additional 84,629 shares during the period. Loomis Sayles & Co. L P grew its holdings in Five9 by 43.6% in the first quarter. Loomis Sayles & Co. L P now owns 1,130,995 shares of the software maker’s stock worth $33,692,000 after purchasing an additional 343,399 shares during the period. Royal Bank of Canada grew its holdings in Five9 by 20.6% in the first quarter. Royal Bank of Canada now owns 924,924 shares of the software maker’s stock worth $27,553,000 after purchasing an additional 157,812 shares during the period. Finally, Eventide Asset Management LLC grew its holdings in Five9 by 55.2% in the first quarter. Eventide Asset Management LLC now owns 894,000 shares of the software maker’s stock worth $26,632,000 after purchasing an additional 318,000 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

In other news, CFO Barry Zwarenstein sold 10,000 shares of Five9 stock in a transaction dated Monday, June 25th. The shares were sold at an average price of $34.33, for a total transaction of $343,300.00. Following the completion of the transaction, the chief financial officer now directly owns 189,710 shares in the company, valued at $6,512,744.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott Welch sold 1,750 shares of Five9 stock in a transaction dated Thursday, July 5th. The shares were sold at an average price of $35.14, for a total transaction of $61,495.00. Following the transaction, the executive vice president now owns 92,873 shares of the company’s stock, valued at $3,263,557.22. The disclosure for this sale can be found here. Insiders have sold 78,470 shares of company stock valued at $3,339,911 over the last quarter. Corporate insiders own 5.10% of the company’s stock.

A number of equities research analysts have commented on the stock. Barclays raised their price target on shares of Five9 from $38.00 to $45.00 and gave the stock an “equal weight” rating in a report on Friday, September 7th. BidaskClub cut shares of Five9 from a “strong-buy” rating to a “buy” rating in a report on Friday, September 14th. Needham & Company LLC restated a “buy” rating and issued a $50.00 price target (up from $45.00) on shares of Five9 in a report on Thursday, August 23rd. Bank of America raised their price target on shares of Five9 from $21.00 to $25.00 and gave the stock an “underperform” rating in a report on Tuesday, August 7th. Finally, Zacks Investment Research upgraded shares of Five9 from a “hold” rating to a “strong-buy” rating and set a $49.00 price target for the company in a report on Thursday, August 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Five9 presently has an average rating of “Buy” and a consensus target price of $39.36.

Shares of NASDAQ FIVN opened at $44.52 on Friday. The stock has a market cap of $2.70 billion, a PE ratio of -258.18 and a beta of 0.38. Five9 Inc has a 1 year low of $21.20 and a 1 year high of $49.50. The company has a quick ratio of 6.96, a current ratio of 6.96 and a debt-to-equity ratio of 1.66.

Five9 (NASDAQ:FIVN) last issued its quarterly earnings data on Monday, August 6th. The software maker reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. The firm had revenue of $61.12 million during the quarter, compared to analysts’ expectations of $56.42 million. Five9 had a negative net margin of 1.04% and a negative return on equity of 3.56%. Five9’s quarterly revenue was up 28.1% compared to the same quarter last year. research analysts anticipate that Five9 Inc will post -0.05 EPS for the current fiscal year.

Five9 Company Profile

Five9, Inc, together with its subsidiaries, provides cloud software for contact centers in the United States and internationally. It offers 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; and acts as a hub for omnichannel engagement between the clients and their customers, which enables them to manage the end-to-end customer experience in a single unified architecture.

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Institutional Ownership by Quarter for Five9 (NASDAQ:FIVN)

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