Edgestream Partners L.P. Takes $4.39 Million Position in F5, Inc. (NASDAQ:FFIV)

Edgestream Partners L.P. bought a new position in F5, Inc. (NASDAQ:FFIV - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 16,500 shares of the network technology company's stock, valued at approximately $4,393,000.

Several other hedge funds have also modified their holdings of FFIV. 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 acquiring an additional 77 shares during the last quarter. Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in shares of F5 during the 4th quarter worth about $5,856,000. Exchange Traded Concepts LLC increased its position in shares of F5 by 72.6% in the first quarter. Exchange Traded Concepts LLC now owns 1,698 shares of the network technology company's stock valued at $452,000 after buying an additional 714 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in F5 during the first quarter valued at $231,000. Finally, OneDigital Investment Advisors LLC acquired a new position in shares of F5 during the first quarter valued at approximately $240,000. 90.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Thomas Dean Fountain sold 1,347 shares of F5 stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $269.03, for a total value of $362,383.41. Following the sale, the executive vice president directly owned 20,660 shares in the company, valued at $5,558,159.80. This trade represents a 6.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Francois Locoh-Donou sold 1,300 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $294.32, for a total value of $382,616.00. Following the transaction, the chief executive officer directly owned 107,100 shares in the company, valued at $31,521,672. This trade represents a 1.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,519 shares of company stock valued at $2,408,594 over the last quarter. Corporate insiders own 0.52% of the company's stock.

F5 Price Performance

FFIV traded up $2.36 on Wednesday, reaching $293.12. The company's stock had a trading volume of 333,372 shares, compared to its average volume of 562,895. The stock has a market cap of $16.83 billion, a price-to-earnings ratio of 27.81, a price-to-earnings-growth ratio of 3.74 and a beta of 1.00. F5, Inc. has a 1 year low of $170.21 and a 1 year high of $313.00. The business's 50 day moving average is $289.17 and its 200 day moving average is $278.44.

F5 (NASDAQ:FFIV - Get Free Report) last issued its 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 return on equity of 21.18% and a net margin of 21.14%. The company had revenue of $590.16 million during the quarter, compared to analyst estimates of $719.91 million. During the same quarter last year, the firm earned $2.91 EPS. The business's revenue was up 7.3% on a year-over-year basis. As a group, research analysts forecast that F5, Inc. will post 11.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FFIV has been the subject of a number of research analyst reports. Wolfe Research initiated coverage on shares of F5 in a research report on Monday, July 7th. They set an "outperform" rating for the company. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $290.00 price objective on shares of F5 in a research report on Tuesday, April 29th. Piper Sandler reiterated a "neutral" rating and set a $304.00 target price (up from $269.00) on shares of F5 in a research report on Monday. Needham & Company LLC restated a "buy" rating and issued a $320.00 target price on shares of F5 in a report on Tuesday, April 29th. Finally, William Blair reaffirmed an "outperform" rating on shares of F5 in a research note on Tuesday, April 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $286.44.

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.