Top 5 Stock Picks of Eduardo Costa’s Calixto Global Investors

2. Five9, Inc. (NASDAQ:FIVN)

Calixto Global Investors’ Stake Value: $21,928,000
Percentage of Calixto Global Investors’ 13F Portfolio: 21.93%
Number of Hedge Fund Holders: 51

Five9, Inc. (NASDAQ:FIVN) delivers cloud-native contact center software to help with digital sales, customer support, and marketing. On September 20, Five9, Inc. (NASDAQ:FIVN) introduced Five9 Service Cloud Voice for Partner Telephony, the most recent version of its Salesforce, Inc. (NYSE:CRM) interface.

On September 23, Credit Suisse analyst Fred Lee initiated coverage of Five9, Inc. (NASDAQ:FIVN), assigning the stock a ‘Neutral’ rating and a $90 price target. He saw Five9, Inc. (NASDAQ:FIVN) as profiting from shifts to more digital channels because of its AI and automation technologies in the Intelligent Cloud Contact Center.

Christopher Lyle’s SCGE Management is Five9, Inc. (NASDAQ:FIVN)’s most notable stakeholder, with a $140.21 million position in the company. In addition, the number of hedge funds tracked by Insider Monkey owning stakes in Five9, Inc. (NASDAQ:FIVN) fell to 51 in the second quarter from 52 in the preceding quarter. Those stakes held a consolidated value of $1.52 billion, down from $2.12 billion.

Securities filings reveal that Calixto Global Investors owned 240,596 shares of Five9, Inc. (NASDAQ:FIVN) at the end of June 2022, worth $21.93 million and representing 21.93% of the fund’s portfolio. Eduardo Costa’s Calixto Global Investors has kept a stake in Five9, Inc. (NASDAQ:FIVN) since the second quarter of 2020.