5 New Stock Picks of Billionaire Rob Citrone

1. Five9, Inc. (NASDAQ:FIVN)

Discovery Capital Management’s Stake Value: $34,316,000

Percentage of Discovery Capital Management’s 13F Portfolio: 2.56%

Number of Hedge Fund Holders: 76

Headquartered in ​​San Ramon, California, Five9, Inc. (NASDAQ:FIVN) is a provider of cloud software for contact centers in the United States and internationally. Heading into Q3 2021, Rob Citrone purchased 214,827 Five9, Inc. (NASDAQ:FIVN) shares, worth $34.3 million, accounting for 2.56% of the billionaire’s 13F securities. 

On February 1, William Blair analyst Matt Stotler initiated coverage of Five9, Inc. (NASDAQ:FIVN) with an Outperform rating and no price target. According to the analyst, Five9, Inc. (NASDAQ:FIVN) is a leader in the cloud contact center market and has a strong ability to retain and expand its customer relationships, illustrated by its 123% dollar-based retention rate as of September 30, 2021. He believes that the opportunity for Five9, Inc. (NASDAQ:FIVN) is “substantial and could continue to grow” as it executes on its strategic growth initiatives and explores new products.

According to the Q3 database of Insider Monkey, 76 hedge funds were long Five9, Inc. (NASDAQ:FIVN), up from 45 funds in the quarter earlier. Alkeon Capital Management held the biggest stake in Five9, Inc. (NASDAQ:FIVN) in Q3 2021, with more than 3 million shares worth $480.6 million. 

Here is what ClearBridge Investments has to say about Five9, Inc. (NASDAQ:FIVN) in its Q1 2021 investor letter:

“Five9 is a cloud-based contact center as a service software provider that is replacing aging on-premise legacy solutions that dominate the installed base. Companies are being forced to modernize and cloud penetration is still low; Five9 is positioned to benefit and should see further growth driven by its cross-selling add-on modules and an AI product that generates high revenue.”

You can also take a look at 10 Best Dividend Stocks According to Thomas Steyer’s Farallon Capital and 10 Stocks to Sell According to Billionaire Daniel Sundheim. 

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