Envestnet Asset Management Inc. Sells 19,765 Shares of F5, Inc. (NASDAQ:FFIV)

Envestnet Asset Management Inc. lessened its position in F5, Inc. (NASDAQ:FFIV) by 15.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 111,119 shares of the network technology company’s stock after selling 19,765 shares during the period. Envestnet Asset Management Inc. owned about 0.19% of F5 worth $19,138,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. New Covenant Trust Company N.A. bought a new position in shares of F5 in the first quarter worth approximately $27,000. Family Firm Inc. bought a new position in shares of F5 in the second quarter worth approximately $25,000. Quest Partners LLC lifted its stake in shares of F5 by 9,100.0% in the second quarter. Quest Partners LLC now owns 184 shares of the network technology company’s stock worth $32,000 after buying an additional 182 shares in the last quarter. Register Financial Advisors LLC bought a new position in shares of F5 in the first quarter worth approximately $38,000. Finally, Blue Trust Inc. lifted its position in F5 by 49.7% during the second quarter. Blue Trust Inc. now owns 241 shares of the network technology company’s stock valued at $46,000 after purchasing an additional 80 shares during the period. Institutional investors own 90.66% of the company’s stock.

F5 Price Performance

Shares of F5 stock opened at $220.38 on Tuesday. The company’s fifty day simple moving average is $195.48 and its 200-day simple moving average is $183.64. The stock has a market capitalization of $12.92 billion, a PE ratio of 26.39, a P/E/G ratio of 2.55 and a beta of 1.06. F5, Inc. has a 1-year low of $145.45 and a 1-year high of $222.40.

F5 (NASDAQ:FFIV) last announced its quarterly earnings data on Monday, July 29th. The network technology company reported $3.36 EPS for the quarter, beating the consensus estimate of $2.97 by $0.39. The firm had revenue of $695.50 million for the quarter, compared to the consensus estimate of $686.06 million. F5 had a net margin of 19.94% and a return on equity of 21.03%. The company’s revenue was down 1.0% on a year-over-year basis. During the same period last year, the firm earned $2.46 EPS. As a group, research analysts anticipate that F5, Inc. will post 10.18 EPS for the current year.

Analysts Set New Price Targets

FFIV has been the topic of several research reports. Royal Bank of Canada raised their target price on shares of F5 from $182.00 to $205.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 30th. StockNews.com cut shares of F5 from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 10th. Piper Sandler raised their target price on shares of F5 from $167.00 to $186.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Needham & Company LLC raised their target price on shares of F5 from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Evercore ISI raised their target price on shares of F5 from $180.00 to $210.00 and gave the stock an “in-line” rating in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $200.89.

Insider Activity

In other news, CFO Francis J. Pelzer sold 500 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $176.20, for a total transaction of $88,100.00. Following the sale, the chief financial officer now directly owns 31,108 shares in the company, valued at approximately $5,481,229.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other F5 news, CEO Francois Locoh-Donou sold 1,450 shares of F5 stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $171.95, for a total value of $249,327.50. Following the sale, the chief executive officer now directly owns 121,462 shares in the company, valued at approximately $20,885,390.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Francis J. Pelzer sold 500 shares of F5 stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $176.20, for a total transaction of $88,100.00. Following the completion of the sale, the chief financial officer now owns 31,108 shares in the company, valued at $5,481,229.60. The disclosure for this sale can be found here. Insiders have sold 7,271 shares of company stock worth $1,378,205 in the last three months. Company insiders own 0.58% 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.