Retirement Systems of Alabama decreased its holdings in F5, Inc. (NASDAQ:FFIV – Free Report) by 96.5% in the first quarter, Holdings Channel reports. The firm owned 12,388 shares of the network technology company’s stock after selling 343,815 shares during the quarter. Retirement Systems of Alabama’s holdings in F5 were worth $3,299,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of FFIV. GAMMA Investing LLC boosted its stake in shares of F5 by 34,698.9% in the 1st 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 position in shares of F5 in the 4th quarter worth $171,127,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of F5 by 598.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 425,275 shares of the network technology company’s stock worth $106,944,000 after buying an additional 364,372 shares during the last quarter. Northern Trust Corp boosted its stake in shares of F5 by 38.0% in the 4th quarter. Northern Trust Corp now owns 913,021 shares of the network technology company’s stock worth $229,597,000 after buying an additional 251,534 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. purchased a new position in shares of F5 in the 4th quarter worth $53,212,000. Institutional investors own 90.66% of the company’s stock.
Insider Buying and Selling at F5
In other F5 news, EVP Thomas Dean Fountain sold 1,347 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $269.03, for a total transaction of $362,383.41. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Elizabeth Buse sold 1,500 shares of F5 stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $293.53, for a total value of $440,295.00. Following the completion of the sale, the director now directly owns 5,013 shares in the company, valued at $1,471,465.89. This trade represents a 23.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,519 shares of company stock valued at $2,370,959 over the last ninety days. 0.52% of the stock is currently owned by company insiders.
F5 Stock Down 0.5%
F5 (NASDAQ:FFIV – Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The network technology company reported $3.42 EPS for the quarter, beating analysts’ consensus estimates of $3.11 by $0.31. The business had revenue of $590.16 million for the quarter, compared to analysts’ expectations of $719.91 million. F5 had a return on equity of 21.18% and a net margin of 21.14%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $2.91 earnings per share. Sell-side analysts anticipate that F5, Inc. will post 11.2 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on FFIV shares. Wall Street Zen downgraded F5 from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Needham & Company LLC restated a “buy” rating and issued a $320.00 price target on shares of F5 in a research note on Tuesday, April 29th. Barclays lowered their target price on F5 from $296.00 to $274.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 29th. William Blair reiterated an “outperform” rating on shares of F5 in a research report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. lowered their target price on F5 from $296.00 to $285.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, F5 currently has an average rating of “Hold” and an average price target of $282.56.
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.
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