Bank of New York Mellon Corp Cuts Stock Position in F5, Inc. (NASDAQ:FFIV)

Bank of New York Mellon Corp reduced its stake in F5, Inc. (NASDAQ:FFIV - Free Report) by 5.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 464,405 shares of the network technology company's stock after selling 24,506 shares during the period. Bank of New York Mellon Corp owned approximately 0.81% of F5 worth $123,657,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Jones Financial Companies Lllp increased its stake in F5 by 4.3% during the fourth quarter. Jones Financial Companies Lllp now owns 852 shares of the network technology company's stock worth $214,000 after purchasing an additional 35 shares during the period. Steward Partners Investment Advisory LLC increased its stake in F5 by 144.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 766 shares of the network technology company's stock worth $193,000 after purchasing an additional 453 shares during the period. Assetmark Inc. increased its stake in F5 by 9,740.0% during the fourth quarter. Assetmark Inc. now owns 984 shares of the network technology company's stock worth $247,000 after purchasing an additional 974 shares during the period. M&T Bank Corp grew its position in shares of F5 by 5.9% during the fourth quarter. M&T Bank Corp now owns 3,408 shares of the network technology company's stock worth $857,000 after buying an additional 190 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of F5 during the fourth quarter worth about $18,845,000. 90.66% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Thomas Dean Fountain sold 1,347 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $269.03, for a total transaction of $362,383.41. Following the completion of the sale, the executive vice president owned 20,660 shares in the company, valued at $5,558,159.80. This represents a 6.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alan Higginson sold 1,272 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $286.69, for a total value of $364,669.68. Following the sale, the director owned 9,919 shares of the company's stock, valued at $2,843,678.11. This trade represents a 11.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 8,519 shares of company stock valued at $2,408,594. 0.52% of the stock is owned by insiders.

F5 Price Performance

Shares of FFIV stock traded up $1.03 during trading hours on Thursday, hitting $303.31. The stock had a trading volume of 112,715 shares, compared to its average volume of 560,866. The firm has a market capitalization of $17.42 billion, a PE ratio of 28.78, a PEG ratio of 3.85 and a beta of 1.00. F5, Inc. has a twelve month low of $170.21 and a twelve month high of $313.00. The stock's 50 day moving average is $286.97 and its 200 day moving average is $277.23.

F5 (NASDAQ:FFIV - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The network technology company reported $3.42 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.31. The business had revenue of $590.16 million during the quarter, compared to the consensus estimate of $719.91 million. F5 had a return on equity of 21.18% and a net margin of 21.14%. The company's revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.91 earnings per share. As a group, equities analysts predict that F5, Inc. will post 11.2 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FFIV. Piper Sandler boosted their price objective on F5 from $262.00 to $269.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 29th. Barclays lowered their price objective on F5 from $296.00 to $274.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 29th. JPMorgan Chase & Co. lowered their price objective on F5 from $296.00 to $285.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Needham & Company LLC reissued a "buy" rating and set a $320.00 price objective on shares of F5 in a research report on Tuesday, April 29th. Finally, William Blair reaffirmed an "outperform" rating on shares of F5 in a report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, F5 currently has an average rating of "Hold" and a consensus price target of $282.56.

About F5

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.