Wahed Invest LLC Buys 125 Shares of F5, Inc. (NASDAQ:FFIV)

Wahed Invest LLC boosted its holdings in shares of F5, Inc. (NASDAQ:FFIV) by 9.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,417 shares of the network technology company’s stock after buying an additional 125 shares during the quarter. Wahed Invest LLC’s holdings in F5 were worth $312,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Weiss Asset Management LP purchased a new position in F5 during the third quarter valued at approximately $3,878,000. State Street Corp increased its holdings in F5 by 0.5% during the third quarter. State Street Corp now owns 3,187,222 shares of the network technology company’s stock valued at $701,825,000 after buying an additional 16,663 shares during the period. Quantinno Capital Management LP increased its holdings in F5 by 125.7% during the third quarter. Quantinno Capital Management LP now owns 31,618 shares of the network technology company’s stock valued at $6,962,000 after buying an additional 17,611 shares during the period. Redwood Investment Management LLC increased its holdings in F5 by 4.1% during the third quarter. Redwood Investment Management LLC now owns 8,357 shares of the network technology company’s stock valued at $1,830,000 after buying an additional 330 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in F5 during the third quarter valued at approximately $35,090,000. 90.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at F5

In other news, CFO Francis J. Pelzer sold 600 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $217.67, for a total transaction of $130,602.00. Following the completion of the sale, the chief financial officer now owns 29,825 shares of the company’s stock, valued at $6,492,007.75. The trade was a 1.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alan Higginson sold 825 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $239.77, for a total transaction of $197,810.25. Following the sale, the director now directly owns 9,882 shares of the company’s stock, valued at $2,369,407.14. This represents a 7.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,475 shares of company stock worth $977,039 over the last three months. Company insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FFIV. JPMorgan Chase & Co. lifted their price objective on shares of F5 from $225.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. The Goldman Sachs Group lifted their price target on shares of F5 from $212.00 to $241.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Piper Sandler lifted their price target on shares of F5 from $186.00 to $246.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Barclays lifted their price target on shares of F5 from $214.00 to $246.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Finally, StockNews.com raised shares of F5 from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Seven research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $233.56.

F5 Price Performance

Shares of FFIV opened at $257.14 on Friday. The firm has a market capitalization of $15.07 billion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 3.40 and a beta of 1.06. F5, Inc. has a 1-year low of $159.01 and a 1-year high of $259.75. The company’s fifty day moving average price is $233.39 and its 200-day moving average price is $202.27.

F5 (NASDAQ:FFIV) last posted its earnings results on Monday, October 28th. The network technology company reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. The company had revenue of $747.00 million during the quarter, compared to the consensus estimate of $730.43 million. F5 had a net margin of 20.13% and a return on equity of 20.80%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.76 earnings per share. As a group, research analysts anticipate that F5, Inc. will post 11.01 EPS for the current fiscal year.

F5 announced that its board has approved a share repurchase program on Monday, October 28th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the network technology company to reacquire up to 7.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

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.