Convergence Investment Partners LLC Has $2.16 Million Stock Holdings in F5, Inc. (NASDAQ:FFIV)

Convergence Investment Partners LLC grew its position in F5, Inc. (NASDAQ:FFIV - Free Report) by 19.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 8,125 shares of the network technology company's stock after buying an additional 1,295 shares during the period. Convergence Investment Partners LLC's holdings in F5 were worth $2,163,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC grew its stake in shares of F5 by 275.0% during the first quarter. Golden State Wealth Management LLC now owns 105 shares of the network technology company's stock worth $28,000 after purchasing an additional 77 shares during the period. Park Square Financial Group LLC acquired a new stake in shares of F5 during the fourth quarter worth $31,000. Hurley Capital LLC acquired a new stake in shares of F5 during the fourth quarter worth $43,000. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of F5 during the fourth quarter worth $60,000. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in F5 by 31.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 293 shares of the network technology company's stock worth $78,000 after acquiring an additional 70 shares in the last quarter. 90.66% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other F5 news, EVP Thomas Dean Fountain sold 1,347 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $269.03, for a total transaction of $362,383.41. Following the sale, the executive vice president directly owned 20,660 shares of the company's stock, valued at $5,558,159.80. This trade represents a 6.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Elizabeth Buse sold 1,500 shares of F5 stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $293.53, for a total transaction of $440,295.00. Following the transaction, the director directly owned 5,013 shares in the company, valued at approximately $1,471,465.89. This trade represents a 23.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,519 shares of company stock worth $2,408,594. Insiders own 0.52% of the company's stock.

F5 Stock Performance

Shares of F5 stock traded down $2.56 on Friday, reaching $299.37. The company had a trading volume of 262,548 shares, compared to its average volume of 430,646. F5, Inc. has a 52-week low of $174.11 and a 52-week high of $313.00. The firm's 50 day moving average price is $292.62 and its two-hundred day moving average price is $280.78. The firm has a market cap of $17.19 billion, a PE ratio of 28.40, a PEG ratio of 3.81 and a beta of 1.00.

F5 (NASDAQ:FFIV - Get Free Report) last posted 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. The company had revenue of $590.16 million during the quarter, compared to analysts' expectations of $719.91 million. F5 had a net margin of 21.14% and a return on equity of 21.18%. The firm's revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.91 EPS. As a group, sell-side analysts predict that F5, Inc. will post 11.2 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Piper Sandler restated a "neutral" rating and issued a $304.00 price target (up from $269.00) on shares of F5 in a report on Monday, July 14th. Needham & Company LLC reaffirmed a "buy" rating and issued a $320.00 target price on shares of F5 in a report on Tuesday, April 29th. Morgan Stanley increased their price target on F5 from $280.00 to $305.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. William Blair reiterated an "outperform" rating on shares of F5 in a report on Tuesday, April 29th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $290.00 price target on shares of F5 in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $291.44.

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.