Concentric Capital Strategies LP Acquires Shares of 8,641 F5, Inc. (NASDAQ:FFIV)

Concentric Capital Strategies LP purchased a new stake in F5, Inc. (NASDAQ:FFIV - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 8,641 shares of the network technology company's stock, valued at approximately $1,903,000.

A number of other large investors have also added to or reduced their stakes in FFIV. Family Firm Inc. acquired a new stake in shares of F5 during the 2nd quarter worth approximately $25,000. Northwest Investment Counselors LLC purchased a new position in shares of F5 in the 3rd quarter worth approximately $28,000. Quest Partners LLC grew its stake in F5 by 9,100.0% in the 2nd quarter. Quest Partners LLC now owns 184 shares of the network technology company's stock valued at $32,000 after purchasing an additional 182 shares during the period. Kathleen S. Wright Associates Inc. bought a new position in F5 in the 3rd quarter valued at $32,000. Finally, Blue Trust Inc. increased its position in shares of F5 by 49.7% during the 2nd 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 last quarter. Institutional investors own 90.66% of the company's stock.

F5 Price Performance

NASDAQ FFIV traded down $0.39 during trading on Tuesday, hitting $251.75. 130,284 shares of the company's stock traded hands, compared to its average volume of 531,290. F5, Inc. has a 12-month low of $159.01 and a 12-month high of $253.62. The stock has a fifty day moving average of $230.67 and a two-hundred day moving average of $200.39. The firm has a market cap of $14.76 billion, a P/E ratio of 26.38, a PEG ratio of 3.38 and a beta of 1.06.

F5 (NASDAQ:FFIV - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $747.00 million for 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 company's quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.76 EPS. As a group, analysts expect that F5, Inc. will post 11.01 earnings per share for the current fiscal year.

F5 declared that its Board of Directors has approved a share buyback program on Monday, October 28th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the network technology company to reacquire up to 7.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

FFIV has been the topic of several research reports. Royal Bank of Canada boosted their target price on F5 from $205.00 to $240.00 and gave the company a "sector perform" rating in a research note on Tuesday, October 29th. 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 research note on Tuesday, October 29th. StockNews.com upgraded F5 from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, October 29th. Morgan Stanley lifted their target price on F5 from $215.00 to $230.00 and gave the company an "equal weight" rating in a report on Tuesday, October 29th. Finally, The Goldman Sachs Group boosted their price objective on shares of F5 from $212.00 to $241.00 and gave the company a "neutral" rating in a research note on Tuesday, October 29th. Seven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $233.56.

Insider Transactions at F5

In other F5 news, CFO Francis J. Pelzer sold 600 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $217.67, for a total value of $130,602.00. Following the transaction, the chief financial officer now directly owns 29,825 shares in the company, valued at approximately $6,492,007.75. This trade represents a 1.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alan Higginson sold 825 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $239.77, for a total transaction of $197,810.25. Following the completion of the sale, the director now directly owns 9,882 shares of the company's stock, valued at approximately $2,369,407.14. This trade represents a 7.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,475 shares of company stock valued at $977,039. 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.