Procyon Advisors LLC Makes New $1.02 Million Investment in F5, Inc. (NASDAQ:FFIV)

Procyon Advisors LLC acquired a new stake in shares of F5, Inc. (NASDAQ:FFIV - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 3,814 shares of the network technology company's stock, valued at approximately $1,016,000.

Several other hedge funds also recently modified their holdings of FFIV. Unigestion Holding SA grew its holdings in shares of F5 by 605.3% during the first quarter. Unigestion Holding SA now owns 17,118 shares of the network technology company's stock worth $4,558,000 after purchasing an additional 14,691 shares during the last quarter. Merit Financial Group LLC acquired a new stake in F5 during the 1st quarter worth approximately $780,000. Talbot Financial LLC bought a new stake in F5 during the 1st quarter worth approximately $4,198,000. Addenda Capital Inc. increased its position in F5 by 5.5% in the 1st quarter. Addenda Capital Inc. now owns 53,098 shares of the network technology company's stock valued at $14,138,000 after acquiring an additional 2,784 shares during the period. Finally, Czech National Bank increased its position in F5 by 5.1% in the 1st quarter. Czech National Bank now owns 13,241 shares of the network technology company's stock valued at $3,526,000 after acquiring an additional 645 shares during the period. Institutional investors and hedge funds own 90.66% of the company's stock.

Insider Buying and Selling at F5

In related news, Director Michael L. Dreyer sold 1,800 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $285.96, for a total transaction of $514,728.00. Following the completion of the sale, the director now owns 4,376 shares in the company, valued at approximately $1,251,360.96. This represents a 29.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alan Higginson sold 1,272 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $286.69, for a total value of $364,669.68. Following the transaction, the director now owns 9,919 shares in the company, valued at approximately $2,843,678.11. This trade represents a 11.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,891 shares of company stock worth $2,418,732. 0.52% of the stock is owned by corporate insiders.

F5 Price Performance

Shares of FFIV stock traded down $1.36 on Wednesday, reaching $292.31. 144,318 shares of the company were exchanged, compared to its average volume of 564,262. The company has a 50-day moving average of $271.79 and a 200-day moving average of $271.70. The company has a market cap of $16.79 billion, a price-to-earnings ratio of 29.03, a PEG ratio of 3.85 and a beta of 1.00. F5, Inc. has a one year low of $164.67 and a one year high of $313.00.

F5 (NASDAQ:FFIV - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The network technology company reported $3.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $0.31. F5 had a return on equity of 20.98% and a net margin of 20.58%. The business had revenue of $590.16 million for the quarter, compared to analyst estimates of $719.91 million. During the same quarter in the prior year, the company earned $2.91 earnings per share. The company's quarterly revenue was up 7.3% on a year-over-year basis. As a group, sell-side analysts predict that F5, Inc. will post 11.2 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on FFIV. Piper Sandler lifted their price target on shares of F5 from $262.00 to $269.00 and gave the stock a "neutral" rating in a report on Tuesday, April 29th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $290.00 price target on shares of F5 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. Barclays lowered their price target on shares of F5 from $296.00 to $274.00 and set an "equal weight" rating for the company in a report on Tuesday, April 29th. Finally, Morgan Stanley upped their price objective on shares of F5 from $269.00 to $280.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, F5 has an average rating of "Hold" and a consensus target price of $282.56.

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.