State of Tennessee Department of Treasury Cuts Stock Holdings in F5, Inc. (NASDAQ:FFIV)

State of Tennessee Department of Treasury cut its stake in shares of F5, Inc. (NASDAQ:FFIV - Free Report) by 24.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,830 shares of the network technology company's stock after selling 5,022 shares during the period. State of Tennessee Department of Treasury's holdings in F5 were worth $3,981,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Crowley Wealth Management Inc. purchased a new stake in shares of F5 in the 4th quarter worth $35,000. Hurley Capital LLC purchased a new stake in shares of F5 in the 4th quarter worth $43,000. Friedenthal Financial purchased a new stake in F5 in the 4th quarter worth $50,000. EverSource Wealth Advisors LLC increased its stake in F5 by 31.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 203 shares of the network technology company's stock worth $51,000 after buying an additional 49 shares in the last quarter. Finally, Smithfield Trust Co purchased a new stake in F5 in the 4th quarter worth $57,000. 90.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at F5

In other F5 news, EVP Chad Michael Whalen sold 4,093 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $290.33, for a total transaction of $1,188,320.69. Following the sale, the executive vice president now owns 27,264 shares of the company's stock, valued at approximately $7,915,557.12. This trade represents a 13.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Francois Locoh-Donou sold 6,500 shares of the company's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $303.06, for a total transaction of $1,969,890.00. Following the completion of the sale, the chief executive officer now owns 151,247 shares of the company's stock, valued at approximately $45,836,915.82. This trade represents a 4.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,504 shares of company stock valued at $5,088,492 over the last 90 days. 0.52% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on FFIV. The Goldman Sachs Group increased their price objective on shares of F5 from $257.00 to $295.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. Needham & Company LLC reissued a "buy" rating and set a $320.00 price objective on shares of F5 in a report on Tuesday. JPMorgan Chase & Co. dropped their price objective on shares of F5 from $296.00 to $285.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. William Blair reissued an "outperform" rating on shares of F5 in a research report on Tuesday. Finally, Piper Sandler upped their target price on F5 from $262.00 to $269.00 and gave the stock a "neutral" rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $282.56.

F5 Price Performance

Shares of FFIV traded up $1.44 during mid-day trading on Thursday, reaching $266.18. The stock had a trading volume of 280,838 shares, compared to its average volume of 609,922. F5, Inc. has a 52-week low of $163.12 and a 52-week high of $313.00. The business's fifty day moving average is $266.93 and its 200 day moving average is $261.33. The firm has a market cap of $15.35 billion, a price-to-earnings ratio of 26.46, a P/E/G ratio of 3.85 and a beta of 1.14.

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