Allspring Global Investments Holdings LLC lifted its position in F5, Inc. (NASDAQ:FFIV - Free Report) by 457.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,375 shares of the network technology company's stock after buying an additional 25,748 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.05% of F5 worth $7,899,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in FFIV. Northwest Investment Counselors LLC acquired a new stake in shares of F5 during the third quarter worth $28,000. Friedenthal Financial bought a new position in shares of F5 in the fourth quarter worth about $50,000. Venturi Wealth Management LLC lifted its holdings in shares of F5 by 79.8% in the third quarter. Venturi Wealth Management LLC now owns 320 shares of the network technology company's stock worth $70,000 after acquiring an additional 142 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of F5 in the third quarter valued at approximately $84,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in shares of F5 in the fourth quarter valued at approximately $99,000. 90.66% of the stock is owned by institutional investors.
F5 Price Performance
Shares of NASDAQ:FFIV traded down $9.04 during trading on Friday, hitting $295.56. The company had a trading volume of 467,919 shares, compared to its average volume of 703,624. The stock has a market cap of $17.04 billion, a price-to-earnings ratio of 29.38, a price-to-earnings-growth ratio of 3.85 and a beta of 1.06. F5, Inc. has a one year low of $159.01 and a one year high of $313.00. The company has a fifty day simple moving average of $275.62 and a two-hundred day simple moving average of $241.08.
F5 announced that its board has initiated a share repurchase plan on Monday, October 28th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the network technology company to purchase up to 7.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the stock. Needham & Company LLC increased their target price on shares of F5 from $285.00 to $360.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. Morgan Stanley increased their target price on F5 from $262.00 to $310.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 29th. Royal Bank of Canada raised their price objective on F5 from $260.00 to $310.00 and gave the company a "sector perform" rating in a research note on Wednesday, January 29th. Piper Sandler raised their price objective on F5 from $246.00 to $304.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. raised their target price on F5 from $225.00 to $250.00 and gave the company a "neutral" rating in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $295.00.
View Our Latest Stock Report on FFIV
Insider Buying and Selling at F5
In other F5 news, insider Lyra Amber Schramm sold 253 shares of F5 stock in a transaction dated Saturday, February 1st. The stock was sold at an average price of $297.26, for a total transaction of $75,206.78. Following the completion of the sale, the insider now owns 200 shares of the company's stock, valued at approximately $59,452. The trade was a 55.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Marianne Budnik sold 728 shares of the business's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $304.45, for a total value of $221,639.60. Following the completion of the transaction, the director now directly owns 1,770 shares of the company's stock, valued at approximately $538,876.50. This trade represents a 29.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,574 shares of company stock valued at $3,455,057 in the last ninety days. Corporate insiders own 0.52% of the company's stock.
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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