As of May 23, 2023, abrdn plc has increased their stake in F5, Inc. (NASDAQ:FFIV) by 13.8% in the fourth quarter, according to the company’s most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor now holds 23,816 shares of the network technology company’s stock after purchasing an additional 2,891 shares during the period, valued at $3,418,000.
F5, Inc. specializes in providing software-defined application services that optimize the security, performance, and availability of network applications. Based in Seattle, Washington, it was founded on February 26th, 1996. Their primary focus is on developing innovative products for application delivery networking that enhance user experience while ensuring maximum security.
The market capitalization of FFIV is at $8.76 billion, with a P/E ratio of 26.81 and a P/E/G ratio of 2.06 alongside a beta of 1.09. These figures present a sound investment opportunity for companies like abrdn plc looking to expand their holdings in well-established market players.
On May 23rd ,2023 FFIV stock opened at $144.75 per share which represented continued growth over the year with a high point of $174.38 and low point being $127.05 across fifty-two weeks trading volume.
Despite moderate fluctuations over its operating history listed above indicate FFIV remains an attractive option with solid potential given present market conditions- both technological development as well as socio-economic factors underpinning future prospects; expanding into new markets represents an area exerting more quantifiable influence contributing to growth opportunities for ultra-modern corporations willing to take informed risks.
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F5, Inc. Sees Changes in Hedge Fund and Institutional Investor Positions and Impressive Earnings Results
F5, Inc., a software defined application services development and provision company based in Seattle, Washington is making waves in the stock market. Recent news has revealed changes in positions made by hedge funds and institutional investors with regards to the network technology company’s stock. Assetmark Inc. reportedly bought a new stake during the third quarter valued at $30,000 while EverSource Wealth Advisors LLC lifted its own stake by 55.6% during the fourth quarter, which now amounts to 235 shares worth $34,000 after purchasing an additional 84 shares during Q4 alone. Ronald Blue Trust Inc. also bought a new stake worth about $36,000 during Q4 along with Belpointe Asset Management LLC who managed to acquire a new stake worth about $37,000 over the same period. Finally, Edmond DE Rothschild Holding S.A., invested as well into F5’s stock during the third quarter acquiring for themselves a considerable $55,000-worth of stocks from the company.
Corporate insiders have also sold thousands of shares of FFIV stock recently: Director Alan Higginson sold 1,000 stocks worth almost $140k last May 17th and following completion of the transaction now owns around 11,937 stocks amounting to more than $1.6M according to reports filed with SEC on their website, while EVP Chad Michael Whalen sold three months ago 259 FFIV stocks at an average price of $142.12 for a total transaction value of almost $36k.
The recent performance of F5 shows that analysts’ targets for this year may be reached since FFIV reported impressive earnings results last April 19th. The earning results showed that F5 exceeded analysts’ expectations with an EPS score of $2.53 compared to predicted earnings per share (EPS) of only $2.42 per forecasted analyst projections and quarterly revenue up at around 10% year-over-year basis reaching up to $703M. This has led some analysts such as KeyCorp and Needham & Company LLC to give favorable ratings for F5’s stocks citing their strong performance. However, other analysts have lowered FFIV’s target price such as TD Cowen dropping it from $177 to $170 while The Goldman Sachs Group assumed an initial “neutral” rating after assuming coverage last March 6th.
With approximately 93.34% of the company’s stock currently owned by hedge funds and other institutional investors and a high degree of movement within the company with changes in positions made by several hedge funds recently, it will be interesting to keep an eye on what the future holds for F5, Inc. financially speaking.
