Concentric Capital Strategies LP Has $15.40 Million Position in F5, Inc. (NASDAQ:FFIV)

Concentric Capital Strategies LP boosted its holdings in shares of F5, Inc. (NASDAQ:FFIV - Free Report) by 608.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 61,222 shares of the network technology company's stock after buying an additional 52,581 shares during the quarter. F5 accounts for about 0.7% of Concentric Capital Strategies LP's portfolio, making the stock its 18th largest holding. Concentric Capital Strategies LP owned about 0.11% of F5 worth $15,395,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FFIV. Norges Bank acquired a new stake in shares of F5 in the fourth quarter valued at about $171,127,000. Arrowstreet Capital Limited Partnership increased its stake in shares of F5 by 598.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 425,275 shares of the network technology company's stock worth $106,944,000 after acquiring an additional 364,372 shares during the last quarter. Northern Trust Corp raised its stake in F5 by 38.0% during the fourth quarter. Northern Trust Corp now owns 913,021 shares of the network technology company's stock worth $229,597,000 after purchasing an additional 251,534 shares during the period. Edge Capital Group LLC acquired a new position in F5 in the fourth quarter valued at approximately $59,623,000. Finally, Cookson Peirce & Co. Inc. purchased a new position in shares of F5 during the 4th quarter worth $53,212,000. 90.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on FFIV. JPMorgan Chase & Co. reduced their price target on F5 from $296.00 to $285.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Piper Sandler increased their target price on shares of F5 from $262.00 to $269.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 29th. Morgan Stanley increased their price target on shares of F5 from $269.00 to $280.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 29th. StockNews.com lowered shares of F5 from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, April 30th. Finally, William Blair reiterated an "outperform" rating on shares of F5 in a research report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, F5 presently has an average rating of "Hold" and an average target price of $282.56.

F5 Stock Down 1.3 %

Shares of FFIV traded down $3.63 during mid-day trading on Friday, reaching $269.51. The company's stock had a trading volume of 379,595 shares, compared to its average volume of 575,307. The company has a market cap of $15.48 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 3.85 and a beta of 1.00. The business has a fifty day moving average of $263.90 and a 200 day moving average of $263.78. F5, Inc. has a 1 year low of $164.45 and a 1 year high of $313.00.

F5 (NASDAQ:FFIV - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The network technology company reported $3.42 EPS for the quarter, topping the consensus estimate of $3.11 by $0.31. F5 had a net margin of 20.58% and a return on equity of 20.98%. The company had revenue of $590.16 million for the quarter, compared to analyst estimates of $719.91 million. During the same quarter in the prior year, the business posted $2.91 EPS. F5's quarterly revenue was up 7.3% on a year-over-year basis. On average, analysts predict that F5, Inc. will post 11.2 earnings per share for the current year.

Insider Activity at F5

In other news, EVP Scot Frazier Rogers sold 3,486 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $293.18, for a total value of $1,022,025.48. Following the completion of the sale, the executive vice president now directly owns 20,075 shares of the company's stock, valued at approximately $5,885,588.50. This represents a 14.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Francois Locoh-Donou sold 6,500 shares of the business's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $303.06, for a total transaction of $1,969,890.00. Following the transaction, the chief executive officer now directly owns 151,247 shares in the company, valued at $45,836,915.82. This trade represents a 4.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,805 shares of company stock valued at $4,531,250. Corporate insiders own 0.52% of the company's stock.

F5 Company Profile

F5, Inc provides multi-cloud application security and delivery solutions in the United States, Europe, the Middle East, Africa, and the Asia Pacific region. The company's distributed cloud services enable its customers to deploy, secure, and operate applications in any architecture, from on-premises to the public cloud.