Envestnet Asset Management Inc. Sells 14,115 Shares of F5, Inc. (NASDAQ:FFIV)

Envestnet Asset Management Inc. reduced its stake in F5, Inc. (NASDAQ:FFIV - Free Report) by 17.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 67,777 shares of the network technology company's stock after selling 14,115 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.12% of F5 worth $18,047,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. HighTower Advisors LLC boosted its position in shares of F5 by 5.3% during the 4th quarter. HighTower Advisors LLC now owns 966 shares of the network technology company's stock valued at $243,000 after acquiring an additional 49 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of F5 by 31.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 203 shares of the network technology company's stock valued at $51,000 after purchasing an additional 49 shares in the last quarter. Natixis Advisors LLC boosted its holdings in F5 by 2.0% in the fourth quarter. Natixis Advisors LLC now owns 29,315 shares of the network technology company's stock worth $7,372,000 after acquiring an additional 569 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in shares of F5 by 30.3% during the fourth quarter. Corient Private Wealth LLC now owns 3,114 shares of the network technology company's stock valued at $783,000 after purchasing an additional 724 shares in the last quarter. Finally, Cibc World Markets Corp lifted its holdings in F5 by 16.0% in the fourth quarter. Cibc World Markets Corp now owns 9,165 shares of the network technology company's stock valued at $2,305,000 after acquiring an additional 1,267 shares during the period. 90.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FFIV. Wolfe Research began coverage on F5 in a research report on Monday, July 7th. They set an "outperform" rating for the company. Barclays dropped their target price on F5 from $296.00 to $274.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 29th. Morgan Stanley boosted their price objective on F5 from $269.00 to $280.00 and gave the company an "equal weight" rating in a report on Tuesday, April 29th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $290.00 price target on shares of F5 in a report on Tuesday, April 29th. Finally, Piper Sandler restated a "neutral" rating and issued a $304.00 price target (up from $269.00) on shares of F5 in a research report on Monday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $288.67.

F5 Price Performance

Shares of FFIV opened at $300.34 on Friday. The company has a market capitalization of $17.25 billion, a PE ratio of 28.50, a price-to-earnings-growth ratio of 3.73 and a beta of 1.00. F5, Inc. has a one year low of $170.21 and a one year high of $313.00. The company's fifty day moving average price is $290.23 and its 200 day moving average price is $278.87.

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

Insider Activity at F5

In other F5 news, Director Michael L. Dreyer sold 1,800 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $285.96, for a total value of $514,728.00. Following the completion of the sale, the director owned 4,376 shares in the company, valued at $1,251,360.96. This trade represents a 29.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Elizabeth Buse sold 1,500 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $293.53, for a total transaction of $440,295.00. Following the completion of the transaction, the director directly owned 5,013 shares in the company, valued at approximately $1,471,465.89. This represents a 23.03% 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 three months. Insiders own 0.52% of the company's stock.

F5 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.

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