Cresset Asset Management LLC Trims Stock Position in F5, Inc. (NASDAQ:FFIV)

Cresset Asset Management LLC lowered its holdings in shares of F5, Inc. (NASDAQ:FFIV) by 83.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,551 shares of the network technology company’s stock after selling 7,832 shares during the quarter. Cresset Asset Management LLC’s holdings in F5 were worth $390,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Crowley Wealth Management Inc. bought a new position in shares of F5 during the 4th quarter valued at approximately $35,000. Hurley Capital LLC bought a new position in shares of F5 during the 4th quarter valued at approximately $43,000. EverSource Wealth Advisors LLC grew its stake in shares of F5 by 31.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 203 shares of the network technology company’s stock valued at $51,000 after acquiring an additional 49 shares during the period. Smithfield Trust Co bought a new position in shares of F5 during the 4th quarter valued at approximately $57,000. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of F5 during the 4th quarter valued at approximately $60,000. 90.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FFIV has been the subject of a number of recent research reports. Bank of America boosted their price objective on F5 from $180.00 to $260.00 and gave the company an “underperform” rating in a research note on Friday, January 31st. StockNews.com raised shares of F5 from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Barclays reduced their price objective on shares of F5 from $296.00 to $274.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 29th. Morgan Stanley upped their target price on shares of F5 from $269.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. dropped their target price on shares of F5 from $296.00 to $285.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has assigned 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 an average price target of $282.56.

F5 Stock Performance

Shares of NASDAQ:FFIV opened at $282.67 on Friday. The firm has a fifty day moving average price of $264.44 and a 200 day moving average price of $265.60. F5, Inc. has a fifty-two week low of $164.45 and a fifty-two week high of $313.00. The firm has a market cap of $16.23 billion, a price-to-earnings ratio of 28.10, a P/E/G ratio of 3.85 and a beta of 1.00.

F5 (NASDAQ:FFIV) last released its quarterly earnings data on Monday, April 28th. The network technology company reported $3.42 EPS for the quarter, beating the consensus estimate of $3.11 by $0.31. F5 had a net margin of 20.58% and a return on equity of 20.98%. The business had revenue of $590.16 million during the quarter, compared to analyst estimates of $719.91 million. During the same quarter last year, the business earned $2.91 earnings per share. F5’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, research analysts predict that F5, Inc. will post 11.2 earnings per share for the current year.

Insider Buying and Selling at F5

In other F5 news, EVP Scot Frazier Rogers sold 3,486 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $293.18, for a total transaction of $1,022,025.48. Following the completion of the transaction, the executive vice president now owns 20,075 shares in the company, valued at $5,885,588.50. This trade represents a 14.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Marianne Budnik sold 1,872 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $260.72, for a total transaction of $488,067.84. Following the transaction, the director now owns 1,207 shares of the company’s stock, valued at $314,689.04. This trade represents a 60.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,305 shares of company stock worth $2,561,360 over the last 90 days. 0.52% of the stock is owned by insiders.

F5 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.