Norges Bank bought a new position in F5, Inc. (NASDAQ:FFIV - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 680,507 shares of the network technology company's stock, valued at approximately $171,127,000. Norges Bank owned approximately 1.17% of F5 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the stock. Edge Capital Group LLC purchased a new stake in shares of F5 during the fourth quarter worth $59,623,000. Cookson Peirce & Co. Inc. purchased a new stake in shares of F5 during the 4th quarter worth about $53,212,000. Point72 Asset Management L.P. acquired a new stake in shares of F5 during the 3rd quarter valued at about $35,090,000. Jupiter Asset Management Ltd. grew its stake in shares of F5 by 83.1% in the 4th quarter. Jupiter Asset Management Ltd. now owns 296,506 shares of the network technology company's stock valued at $74,562,000 after buying an additional 134,537 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in F5 by 8.0% in the third quarter. Geode Capital Management LLC now owns 1,573,995 shares of the network technology company's stock worth $345,560,000 after buying an additional 117,080 shares during the last quarter. Institutional investors and hedge funds own 90.66% of the company's stock.
Wall Street Analyst Weigh In
FFIV has been the subject of several recent research reports. Morgan Stanley boosted their target price on shares of F5 from $262.00 to $310.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 29th. Evercore ISI boosted their price target on F5 from $240.00 to $270.00 and gave the stock an "in-line" rating in a research report on Friday, January 17th. The Goldman Sachs Group increased their price objective on F5 from $257.00 to $295.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. Needham & Company LLC boosted their target price on F5 from $285.00 to $360.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Finally, Piper Sandler increased their price target on F5 from $246.00 to $304.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, F5 has a consensus rating of "Hold" and a consensus target price of $295.00.
View Our Latest Research Report on FFIV
Insiders Place Their Bets
In other news, Director Marianne Budnik sold 728 shares of F5 stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $304.45, for a total transaction of $221,639.60. Following the sale, the director now directly owns 1,770 shares in the company, valued at approximately $538,876.50. The trade was a 29.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scot Frazier Rogers sold 3,486 shares of F5 stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $293.18, for a total value of $1,022,025.48. Following the sale, the executive vice president now directly owns 20,075 shares in the company, valued at $5,885,588.50. The trade was a 14.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,232 shares of company stock worth $5,310,131 in the last ninety days. Insiders own 0.52% of the company's stock.
F5 Price Performance
Shares of F5 stock traded down $11.73 during midday trading on Friday, hitting $239.25. The company had a trading volume of 725,506 shares, compared to its average volume of 569,659. The stock has a market cap of $13.79 billion, a PE ratio of 23.78, a P/E/G ratio of 3.85 and a beta of 1.14. F5, Inc. has a 1-year low of $159.01 and a 1-year high of $313.00. The business's 50 day simple moving average is $283.88 and its two-hundred day simple moving average is $256.18.
F5 Company Profile
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Free Report)
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.
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