Atreides Management LP Acquires Shares of 777,011 Five Below, Inc. (NASDAQ:FIVE)

Atreides Management LP acquired a new stake in shares of Five Below, Inc. (NASDAQ:FIVE) during the 3rd quarter, HoldingsChannel reports. The firm acquired 777,011 shares of the specialty retailer’s stock, valued at approximately $68,649,000. Five Below comprises approximately 1.7% of Atreides Management LP’s portfolio, making the stock its 18th largest holding.

Several other large investors have also bought and sold shares of the stock. Fred Alger Management LLC bought a new stake in shares of Five Below during the 3rd quarter worth $5,184,000. Verition Fund Management LLC raised its stake in shares of Five Below by 196.0% during the 3rd quarter. Verition Fund Management LLC now owns 301,453 shares of the specialty retailer’s stock worth $26,633,000 after purchasing an additional 199,610 shares during the period. Hantz Financial Services Inc. raised its stake in shares of Five Below by 40.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,076 shares of the specialty retailer’s stock worth $183,000 after purchasing an additional 601 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Five Below by 1.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 141,026 shares of the specialty retailer’s stock worth $12,460,000 after purchasing an additional 1,738 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Five Below by 17.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,667 shares of the specialty retailer’s stock worth $1,207,000 after purchasing an additional 1,981 shares during the period.

Five Below Stock Down 0.3 %

FIVE stock opened at $92.70 on Monday. The firm has a market capitalization of $5.10 billion, a PE ratio of 18.25, a PEG ratio of 1.02 and a beta of 1.20. Five Below, Inc. has a twelve month low of $64.87 and a twelve month high of $216.18. The stock has a 50-day simple moving average of $90.45 and a two-hundred day simple moving average of $95.41.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FIVE. Craig Hallum lifted their target price on Five Below from $102.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Gordon Haskett upgraded Five Below from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a research note on Thursday, November 7th. UBS Group lowered their target price on Five Below from $120.00 to $108.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Evercore ISI lifted their target price on Five Below from $100.00 to $104.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. Finally, KeyCorp cut Five Below from an “overweight” rating to a “sector weight” rating in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $106.05.

Five Below Profile

Five Below, Inc operates as a specialty value retailer in the United States. The company offers range of accessories, which includes novelty socks, sunglasses, jewelry, scarves, gloves, hair accessories, athletic tops and bottoms, and t-shirts, as well as nail polish, lip gloss, fragrance, and branded cosmetics; and personalized living space products, such as lamps, posters, frames, fleece blankets, plush items, pillows, candles, incense, lighting, novelty décor, accent furniture, and related items, as well as provides storage options.