Formidable Asset Management LLC Has $579,000 Position in F5, Inc. (NASDAQ:FFIV)

Formidable Asset Management LLC trimmed its position in shares of F5, Inc. (NASDAQ:FFIV - Free Report) by 51.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,173 shares of the network technology company's stock after selling 2,286 shares during the period. Formidable Asset Management LLC's holdings in F5 were worth $579,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in FFIV. Golden State Wealth Management LLC grew its position in F5 by 275.0% in 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 in the last quarter. Park Square Financial Group LLC acquired a new position in shares of F5 during the 4th quarter worth about $31,000. Crowley Wealth Management Inc. purchased a new position in F5 in the 4th quarter valued at approximately $35,000. Hurley Capital LLC acquired a new stake in shares of F5 in the 4th quarter valued at $43,000. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new position in F5 in the fourth quarter valued at $60,000. 90.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on FFIV shares. Barclays dropped their price target on shares of F5 from $296.00 to $274.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 29th. Wolfe Research started coverage on shares of F5 in a research report on Monday, July 7th. They set an "outperform" rating on the stock. Needham & Company LLC reissued a "buy" rating and set a $320.00 target price on shares of F5 in a research note on Tuesday, April 29th. Wall Street Zen downgraded F5 from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, William Blair restated an "outperform" rating on shares of F5 in a research report on Tuesday, April 29th. One 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, F5 currently has a consensus rating of "Hold" and an average price target of $291.44.

F5 Price Performance

Shares of NASDAQ:FFIV traded down $2.67 during trading on Tuesday, reaching $297.45. 164,533 shares of the company's stock traded hands, compared to its average volume of 563,304. The company has a 50 day moving average of $290.88 and a 200-day moving average of $279.61. The stock has a market capitalization of $17.08 billion, a P/E ratio of 28.20, a price-to-earnings-growth ratio of 3.84 and a beta of 1.00. F5, Inc. has a 12 month low of $170.21 and a 12 month high of $313.00.

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 (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 company had revenue of $590.16 million for the quarter, compared to the consensus estimate of $719.91 million. During the same period last year, the company earned $2.91 earnings per share. The firm's revenue was up 7.3% compared to the same quarter last year. Equities research analysts predict that F5, Inc. will post 11.2 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Alan Higginson sold 1,272 shares of F5 stock in a transaction 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 completion of the sale, the director directly owned 9,919 shares of the company's stock, valued at approximately $2,843,678.11. The trade was a 11.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Elizabeth Buse sold 1,500 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $293.53, for a total value of $440,295.00. Following the completion of the sale, the director directly owned 5,013 shares of the company's stock, valued at $1,471,465.89. The trade was a 23.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,519 shares of company stock worth $2,408,594. Company 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.