Wedge Capital Management L L P NC Lowers Stock Position in F5, Inc. (NASDAQ:FFIV)

Wedge Capital Management L L P NC trimmed its holdings in F5, Inc. (NASDAQ:FFIV - Free Report) by 24.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 203,349 shares of the network technology company's stock after selling 64,886 shares during the quarter. F5 makes up about 1.0% of Wedge Capital Management L L P NC's holdings, making the stock its 19th biggest position. Wedge Capital Management L L P NC owned 0.35% of F5 worth $54,146,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in F5 by 457.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 31,375 shares of the network technology company's stock valued at $7,899,000 after purchasing an additional 25,748 shares during the period. Fisher Asset Management LLC boosted its stake in shares of F5 by 163.3% during the fourth quarter. Fisher Asset Management LLC now owns 80,013 shares of the network technology company's stock worth $20,121,000 after buying an additional 49,629 shares during the period. Aware Super Pty Ltd as trustee of Aware Super purchased a new position in shares of F5 during the fourth quarter worth about $5,856,000. Jupiter Asset Management Ltd. increased its position in F5 by 83.1% in the 4th quarter. Jupiter Asset Management Ltd. now owns 296,506 shares of the network technology company's stock valued at $74,562,000 after acquiring an additional 134,537 shares during the period. Finally, Sequoia Financial Advisors LLC increased its position in F5 by 10.3% in the 4th quarter. Sequoia Financial Advisors LLC now owns 15,157 shares of the network technology company's stock valued at $3,811,000 after acquiring an additional 1,419 shares during the period. Hedge funds and other institutional investors own 90.66% of the company's stock.

F5 Stock Performance

NASDAQ:FFIV opened at $295.43 on Friday. F5, Inc. has a 1 year low of $164.67 and a 1 year high of $313.00. The stock has a fifty day moving average price of $270.50 and a two-hundred day moving average price of $271.03. The stock has a market capitalization of $16.97 billion, a price-to-earnings ratio of 29.37, a PEG ratio of 3.85 and a beta of 1.00.

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

Wall Street Analysts Forecast Growth

FFIV has been the subject of a number of recent research reports. Needham & Company LLC reaffirmed a "buy" rating and set a $320.00 price objective on shares of F5 in a research report 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. Piper Sandler lifted their price objective on shares of F5 from $262.00 to $269.00 and gave the company a "neutral" rating in a research report on Tuesday, April 29th. Royal Bank of Canada reissued a "sector perform" rating and issued a $290.00 price objective on shares of F5 in a research note on Tuesday, April 29th. Finally, Morgan Stanley upped their price objective on shares of F5 from $269.00 to $280.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $282.56.

Insider Activity

In related news, EVP Thomas Dean Fountain sold 1,347 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $269.03, for a total value of $362,383.41. Following the completion of the transaction, the executive vice president now directly owns 20,660 shares of the company's stock, valued at $5,558,159.80. This trade represents a 6.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael L. Dreyer sold 1,800 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $285.96, for a total value of $514,728.00. Following the sale, the director now owns 4,376 shares in the company, valued at approximately $1,251,360.96. The trade was a 29.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 8,891 shares of company stock worth $2,418,732. Company insiders own 0.52% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.