WESPAC Advisors LLC Takes Position in F5, Inc. (NASDAQ:FFIV)

WESPAC Advisors LLC bought a new stake in shares of F5, Inc. (NASDAQ:FFIV - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,058 shares of the network technology company's stock, valued at approximately $814,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in F5 by 34,698.9% in the first quarter. GAMMA Investing LLC now owns 746,089 shares of the network technology company's stock worth $198,661,000 after buying an additional 743,945 shares during the last quarter. Norges Bank purchased a new stake in F5 in the fourth quarter worth $171,127,000. Arrowstreet Capital Limited Partnership increased its stake in F5 by 598.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 425,275 shares of the network technology company's stock worth $106,944,000 after purchasing an additional 364,372 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in F5 by 110.4% in the first quarter. Robeco Institutional Asset Management B.V. now owns 560,493 shares of the network technology company's stock worth $149,242,000 after purchasing an additional 294,050 shares during the period. Finally, Northern Trust Corp increased its stake in F5 by 38.0% in the fourth quarter. Northern Trust Corp now owns 913,021 shares of the network technology company's stock worth $229,597,000 after purchasing an additional 251,534 shares during the period. 90.66% of the stock is currently owned by institutional investors.

Insider Activity at F5

In other news, Director Michael L. Dreyer sold 1,800 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $285.96, for a total transaction of $514,728.00. Following the sale, the director owned 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Francois Locoh-Donou sold 1,300 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $294.32, for a total value of $382,616.00. Following the sale, the chief executive officer owned 107,100 shares in the company, valued at $31,521,672. The trade was a 1.20% decrease in their position. 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 90 days. Company insiders own 0.52% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on FFIV shares. Piper Sandler increased their target price on F5 from $262.00 to $269.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 29th. Wall Street Zen lowered F5 from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Wolfe Research began coverage on F5 in a research note on Monday. They set an "outperform" rating on the stock. JPMorgan Chase & Co. cut their price target on F5 from $296.00 to $285.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Finally, Needham & Company LLC restated a "buy" rating and set a $320.00 price target on shares of F5 in a research note on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, F5 has a consensus rating of "Hold" and a consensus price target of $282.56.

F5 Price Performance

Shares of FFIV stock opened at $299.89 on Friday. F5, Inc. has a 1-year low of $170.21 and a 1-year high of $313.00. The stock's 50-day moving average is $287.65 and its 200 day moving average is $277.54. The company has a market cap of $17.22 billion, a P/E ratio of 28.45, a PEG ratio of 3.85 and a beta of 1.00.

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

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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