Truist Financial Corp Reduces Stake in F5, Inc. (NASDAQ:FFIV)

Truist Financial Corp lowered its position in F5, Inc. (NASDAQ:FFIV) by 21.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 161,476 shares of the network technology company’s stock after selling 43,887 shares during the quarter. Truist Financial Corp’s holdings in F5 were worth $27,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of FFIV. Simon Quick Advisors LLC raised its position in F5 by 4.9% in the second quarter. Simon Quick Advisors LLC now owns 1,353 shares of the network technology company’s stock worth $233,000 after acquiring an additional 63 shares during the period. Tocqueville Asset Management L.P. raised its holdings in F5 by 0.6% in the 1st quarter. Tocqueville Asset Management L.P. now owns 11,531 shares of the network technology company’s stock worth $2,186,000 after purchasing an additional 64 shares during the period. Profund Advisors LLC lifted its position in F5 by 6.3% during the second quarter. Profund Advisors LLC now owns 1,185 shares of the network technology company’s stock valued at $204,000 after purchasing an additional 70 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in F5 by 0.3% during the second quarter. Nisa Investment Advisors LLC now owns 28,231 shares of the network technology company’s stock valued at $4,862,000 after purchasing an additional 73 shares in the last quarter. Finally, Empirical Finance LLC grew its holdings in F5 by 3.6% during the first quarter. Empirical Finance LLC now owns 2,155 shares of the network technology company’s stock valued at $409,000 after purchasing an additional 74 shares during the period. Hedge funds and other institutional investors own 90.66% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Francois Locoh-Donou sold 1,450 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $188.35, for a total value of $273,107.50. Following the completion of the transaction, the chief executive officer now directly owns 124,022 shares of the company’s stock, valued at $23,359,543.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Francois Locoh-Donou sold 1,450 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $188.35, for a total transaction of $273,107.50. Following the sale, the chief executive officer now directly owns 124,022 shares in the company, valued at approximately $23,359,543.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Francis J. Pelzer sold 600 shares of F5 stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $217.50, for a total value of $130,500.00. Following the completion of the transaction, the chief financial officer now owns 30,425 shares of the company’s stock, valued at approximately $6,617,437.50. The disclosure for this sale can be found here. Insiders have sold a total of 6,421 shares of company stock valued at $1,259,378 in the last quarter. 0.58% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

FFIV has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price objective on F5 from $210.00 to $215.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group raised their target price on shares of F5 from $185.00 to $212.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Piper Sandler increased their price objective on shares of F5 from $167.00 to $186.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Barclays raised their price objective on shares of F5 from $189.00 to $214.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Finally, Evercore ISI upped 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 research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $204.56.

F5 Stock Performance

Shares of NASDAQ FFIV opened at $218.08 on Friday. The company has a market cap of $12.78 billion, a P/E ratio of 26.12, a P/E/G ratio of 2.77 and a beta of 1.06. F5, Inc. has a 52-week low of $145.45 and a 52-week high of $223.74. The firm’s fifty day moving average is $201.62 and its two-hundred day moving average is $185.08.

F5 (NASDAQ:FFIV) last issued its earnings results on Monday, July 29th. The network technology company reported $3.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.39. The firm had revenue of $695.50 million for the quarter, compared to analysts’ expectations of $686.06 million. F5 had a return on equity of 21.03% and a net margin of 19.94%. During the same period in the previous year, the firm posted $2.46 earnings per share. The business’s revenue was down 1.0% compared to the same quarter last year. As a group, analysts forecast that F5, Inc. will post 10.18 EPS for the current fiscal year.

F5 Company 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.