Five9, Inc. (NASDAQ:FIVN) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Five9, Inc. (NASDAQ:FIVN) by 642.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 217,302 shares of the software maker’s stock after purchasing an additional 188,043 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Five9 were worth $6,243,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Signaturefd LLC lifted its position in Five9 by 1,892.3% during the third quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock worth $30,000 after buying an additional 984 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Five9 in the 2nd quarter worth $57,000. Quest Partners LLC acquired a new position in shares of Five9 during the 3rd quarter valued at about $95,000. nVerses Capital LLC acquired a new position in shares of Five9 during the 3rd quarter valued at about $141,000. Finally, Quent Capital LLC grew its holdings in shares of Five9 by 8.7% in the second quarter. Quent Capital LLC now owns 4,379 shares of the software maker’s stock valued at $193,000 after purchasing an additional 352 shares during the period. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Northland Securities decreased their target price on shares of Five9 from $95.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Truist Financial reaffirmed a “buy” rating and issued a $65.00 price target on shares of Five9 in a research note on Tuesday, August 27th. Wells Fargo & Company downgraded Five9 from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $55.00 to $40.00 in a research report on Tuesday, November 12th. Piper Sandler increased their target price on shares of Five9 from $35.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Roth Mkm reduced their price target on shares of Five9 from $90.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.22.

Insider Buying and Selling at Five9

In related news, CAO Leena Mansharamani sold 1,395 shares of Five9 stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $30.51, for a total transaction of $42,561.45. Following the sale, the chief accounting officer now directly owns 36,872 shares in the company, valued at $1,124,964.72. This trade represents a 3.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Barry Zwarenstein sold 4,408 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $26.97, for a total value of $118,883.76. Following the completion of the sale, the chief financial officer now directly owns 101,732 shares of the company’s stock, valued at $2,743,712.04. The trade was a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,493 shares of company stock valued at $1,097,753. Insiders own 1.80% of the company’s stock.

Five9 Stock Up 4.8 %

FIVN stock opened at $40.32 on Friday. The company’s 50 day moving average price is $31.19 and its 200 day moving average price is $38.13. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of -80.64, a PEG ratio of 22.74 and a beta of 0.85. Five9, Inc. has a fifty-two week low of $26.60 and a fifty-two week high of $92.40. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.85 and a current ratio of 1.85.

Five9 Company Profile

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