Bullseye Asset Management LLC Has $2.98 Million Stock Holdings in Five9, Inc. (NASDAQ:FIVN)

Bullseye Asset Management LLC boosted its stake in Five9, Inc. (NASDAQ:FIVN) by 13.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,768 shares of the software maker’s stock after purchasing an additional 12,500 shares during the period. Five9 comprises about 1.4% of Bullseye Asset Management LLC’s holdings, making the stock its 29th largest holding. Bullseye Asset Management LLC owned about 0.14% of Five9 worth $2,981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Neo Ivy Capital Management acquired a new stake in shares of Five9 during the 2nd quarter valued at $2,177,000. Scalar Gauge Management LLC acquired a new stake in shares of Five9 during the second quarter valued at about $6,990,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Five9 by 14.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,667,922 shares of the software maker’s stock worth $47,919,000 after purchasing an additional 210,836 shares during the last quarter. King Luther Capital Management Corp acquired a new position in shares of Five9 in the second quarter valued at approximately $2,062,000. Finally, Van Berkom & Associates Inc. raised its holdings in Five9 by 52.3% in the 2nd quarter. Van Berkom & Associates Inc. now owns 1,299,483 shares of the software maker’s stock valued at $57,307,000 after buying an additional 446,151 shares during the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

Insider Buying and Selling

In related news, EVP Panos Kozanian sold 7,619 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $42.09, for a total value of $320,683.71. Following the sale, the executive vice president now owns 69,009 shares in the company, valued at $2,904,588.81. This represents a 9.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Barry Zwarenstein sold 3,336 shares of Five9 stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $41.85, for a total value of $139,611.60. Following the transaction, the chief financial officer now owns 98,396 shares of the company’s stock, valued at $4,117,872.60. This trade represents a 3.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,004 shares of company stock valued at $1,209,279. 1.80% of the stock is owned by company insiders.

Five9 Price Performance

FIVN stock opened at $41.60 on Tuesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85. The company’s 50-day moving average is $34.37 and its 200-day moving average is $36.90. The stock has a market capitalization of $3.13 billion, a PE ratio of -83.20, a price-to-earnings-growth ratio of 25.64 and a beta of 0.92. Five9, Inc. has a 1 year low of $26.60 and a 1 year high of $85.00.

Analyst Ratings Changes

A number of research firms have weighed in on FIVN. Wells Fargo & Company lowered shares of Five9 from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $55.00 to $40.00 in a report on Tuesday, November 12th. Robert W. Baird increased their price objective on Five9 from $40.00 to $43.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Rosenblatt Securities lifted their target price on Five9 from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Piper Sandler increased their price target on Five9 from $35.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Five9 in a research note on Tuesday, August 27th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.22.

About Five9

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.