Centre Asset Management LLC Sells 5,633 Shares of F5, Inc. (NASDAQ:FFIV)

Centre Asset Management LLC lowered its position in shares of F5, Inc. (NASDAQ:FFIV) by 10.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,640 shares of the network technology company’s stock after selling 5,633 shares during the quarter. F5 comprises 2.3% of Centre Asset Management LLC’s investment portfolio, making the stock its 21st biggest holding. Centre Asset Management LLC owned about 0.09% of F5 worth $9,601,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC bought a new position in F5 during the fourth quarter worth $25,000. Pacific Capital Wealth Advisors Inc. bought a new position in shares of F5 during the 4th quarter worth about $34,000. Washington Trust Advisors Inc. acquired a new stake in shares of F5 in the 4th quarter valued at about $36,000. Janiczek Wealth Management LLC increased its position in F5 by 56.4% in the 4th quarter. Janiczek Wealth Management LLC now owns 258 shares of the network technology company’s stock valued at $46,000 after buying an additional 93 shares in the last quarter. Finally, Anchor Investment Management LLC acquired a new position in F5 during the 4th quarter worth approximately $51,000. 90.66% of the stock is owned by institutional investors.

Insider Transactions at F5

In other news, EVP Scot Frazier Rogers sold 3,315 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $168.46, for a total transaction of $558,444.90. Following the completion of the sale, the executive vice president now directly owns 19,493 shares in the company, valued at $3,283,790.78. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other F5 news, EVP Scot Frazier Rogers sold 3,315 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $168.46, for a total value of $558,444.90. Following the completion of the sale, the executive vice president now directly owns 19,493 shares in the company, valued at $3,283,790.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael L. Dreyer sold 2,250 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $167.93, for a total transaction of $377,842.50. Following the completion of the sale, the director now owns 4,867 shares of the company’s stock, valued at $817,315.31. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,766 shares of company stock worth $2,026,260. Company insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of F5 from $197.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Evercore ISI dropped their target price on F5 from $200.00 to $180.00 and set an “in-line” rating on the stock in a report on Tuesday, April 30th. Barclays decreased their price target on F5 from $206.00 to $189.00 and set an “equal weight” rating for the company in a report on Tuesday, April 30th. Royal Bank of Canada dropped their price objective on F5 from $204.00 to $182.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 30th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $167.00 target price (down previously from $187.00) on shares of F5 in a research note on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $185.10.

F5 Stock Performance

FFIV traded up $1.83 during trading on Tuesday, reaching $169.52. The stock had a trading volume of 684,408 shares, compared to its average volume of 481,878. The stock has a market cap of $9.94 billion, a PE ratio of 20.21, a PEG ratio of 2.23 and a beta of 1.09. F5, Inc. has a one year low of $142.16 and a one year high of $199.49. The business has a 50-day moving average of $173.67 and a 200-day moving average of $179.58.

F5 (NASDAQ:FFIV) last released its earnings results on Monday, April 29th. The network technology company reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.88 by $0.03. F5 had a return on equity of 21.41% and a net margin of 17.91%. The business had revenue of $681.00 million for the quarter, compared to analysts’ expectations of $685.47 million. During the same quarter in the prior year, the firm earned $1.70 earnings per share. The firm’s revenue was down 3.1% on a year-over-year basis. Equities research analysts forecast that F5, Inc. will post 9.64 EPS for the current fiscal year.

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.