ING Groep NV acquired a new stake in shares of F5, Inc. (NASDAQ:FFIV – Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,155 shares of the network technology company’s stock, valued at approximately $1,316,000.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Havemeyer Place LP acquired a new stake in F5 during the fourth quarter valued at approximately $242,000. Pinebridge Investments LLC acquired a new stake in F5 during the fourth quarter valued at approximately $15,422,000. Westfield Capital Management Co. LP boosted its holdings in F5 by 1,634.3% during the fourth quarter. Westfield Capital Management Co. LP now owns 281,299 shares of the network technology company’s stock valued at $71,804,000 after purchasing an additional 265,079 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in F5 by 66.6% during the fourth quarter. CIBC Asset Management Inc now owns 13,845 shares of the network technology company’s stock valued at $3,534,000 after purchasing an additional 5,533 shares in the last quarter. Finally, Kesler Norman & Wride LLC boosted its holdings in F5 by 182.9% during the fourth quarter. Kesler Norman & Wride LLC now owns 3,666 shares of the network technology company’s stock valued at $936,000 after purchasing an additional 2,370 shares in the last quarter. 90.66% of the stock is owned by institutional investors and hedge funds.
F5 Price Performance
Shares of FFIV opened at $395.23 on Wednesday. The company has a market capitalization of $22.30 billion, a P/E ratio of 32.42, a PEG ratio of 9.12 and a beta of 1.04. F5, Inc. has a one year low of $223.76 and a one year high of $411.52. The business’s 50 day simple moving average is $342.74 and its 200-day simple moving average is $294.44.
Insider Transactions at F5
In related news, CFO Edward Cooper Werner sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $400.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer owned 406 shares in the company, valued at $162,400. The trade was a 86.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas Dean Fountain sold 1,328 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $330.58, for a total transaction of $439,010.24. Following the completion of the transaction, the executive vice president owned 8,060 shares of the company’s stock, valued at $2,664,474.80. This trade represents a 14.15% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 21,579 shares of company stock worth $7,437,510 over the last ninety days. 0.48% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on FFIV shares. Evercore raised F5 from an “in-line” rating to an “outperform” rating and set a $475.00 price objective on the stock in a report on Monday, May 18th. Bank of America boosted their target price on F5 from $250.00 to $300.00 and gave the stock an “underperform” rating in a report on Tuesday, May 26th. Piper Sandler boosted their target price on F5 from $356.00 to $423.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. Morgan Stanley boosted their target price on F5 from $340.00 to $380.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 20th. Finally, Needham & Company LLC reissued a “hold” rating on shares of F5 in a report on Wednesday, April 29th. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $382.67.
F5 Profile
F5 Inc (NASDAQ:FFIV) specializes in application services and delivery networking, helping organizations ensure the availability, performance and security of their applications. The company’s core offerings include advanced load balancing, traffic management and application security solutions designed to optimize user experiences and protect against threats such as distributed denial-of-service (DDoS) attacks and web application exploits.
At the heart of F5’s product portfolio is the BIG-IP platform, which provides a suite of software modules for local and global traffic management, secure web application firewalling and DNS service delivery.
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