Toronto Dominion Bank Cuts Stock Holdings in F5, Inc. (NASDAQ:FFIV)

Toronto Dominion Bank lowered its position in shares of F5, Inc. (NASDAQ:FFIV - Free Report) by 20.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,051 shares of the network technology company's stock after selling 6,489 shares during the period. Toronto Dominion Bank's holdings in F5 were worth $6,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of F5 during the 4th quarter worth $171,127,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of F5 by 598.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 425,275 shares of the network technology company's stock valued at $106,944,000 after purchasing an additional 364,372 shares in the last quarter. Northern Trust Corp raised its position in shares of F5 by 38.0% in the fourth quarter. Northern Trust Corp now owns 913,021 shares of the network technology company's stock valued at $229,597,000 after buying an additional 251,534 shares during the last quarter. Edge Capital Group LLC acquired a new position in F5 during the fourth quarter worth approximately $59,623,000. Finally, Cookson Peirce & Co. Inc. acquired a new position in F5 during the fourth quarter worth approximately $53,212,000. Hedge funds and other institutional investors own 90.66% of the company's stock.

Insider Activity

In other F5 news, Director Marianne Budnik sold 1,872 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $260.72, for a total transaction of $488,067.84. Following the completion of the sale, the director now directly owns 1,207 shares of the company's stock, valued at approximately $314,689.04. This represents a 60.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the director now owns 4,376 shares of the company's stock, valued at approximately $1,251,360.96. This represents a 29.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,891 shares of company stock valued at $2,418,732. Corporate insiders own 0.52% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of F5 from $296.00 to $285.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Bank of America boosted their price objective on shares of F5 from $180.00 to $260.00 and gave the company an "underperform" rating in a research report on Friday, January 31st. Wall Street Zen cut shares of F5 from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Royal Bank of Canada restated a "sector perform" rating and issued a $290.00 price objective on shares of F5 in a research note on Tuesday, April 29th. Finally, Piper Sandler boosted their target price on shares of F5 from $262.00 to $269.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 29th. One 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. Based on data from MarketBeat.com, F5 currently has a consensus rating of "Hold" and a consensus target price of $282.56.

F5 Trading Up 0.4%

Shares of FFIV stock traded up $1.12 during trading on Friday, reaching $281.71. 1,291,159 shares of the company's stock traded hands, compared to its average volume of 569,308. The firm's 50-day moving average is $268.13 and its 200 day moving average is $269.08. F5, Inc. has a 1 year low of $164.45 and a 1 year high of $313.00. The company has a market capitalization of $16.18 billion, a P/E ratio of 28.00, a PEG ratio of 3.85 and a beta of 1.00.

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 for the quarter, beating the consensus estimate of $3.11 by $0.31. The firm had revenue of $590.16 million for the quarter, compared to analysts' expectations of $719.91 million. F5 had a net margin of 20.58% and a return on equity of 20.98%. The business's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company posted $2.91 EPS. As a group, sell-side analysts predict that F5, Inc. will post 11.2 earnings per share for the current fiscal year.

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.