Bank of New York Mellon Corp Cuts Holdings in F5, Inc. (NASDAQ:FFIV)

Bank of New York Mellon Corp lessened its stake in F5, Inc. (NASDAQ:FFIV - Free Report) by 3.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 488,911 shares of the network technology company's stock after selling 15,268 shares during the period. Bank of New York Mellon Corp owned 0.84% of F5 worth $122,946,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Creative Planning boosted its holdings in F5 by 8.7% in the 3rd quarter. Creative Planning now owns 4,342 shares of the network technology company's stock valued at $956,000 after purchasing an additional 348 shares in the last quarter. Private Advisor Group LLC acquired a new position in shares of F5 during the 3rd quarter worth $338,000. State of Alaska Department of Revenue increased its holdings in shares of F5 by 6.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 6,772 shares of the network technology company's stock valued at $1,491,000 after purchasing an additional 390 shares in the last quarter. abrdn plc lifted its stake in shares of F5 by 27.3% in the third quarter. abrdn plc now owns 23,442 shares of the network technology company's stock valued at $5,144,000 after purchasing an additional 5,020 shares during the period. Finally, First Trust Direct Indexing L.P. boosted its holdings in F5 by 2.9% during the third quarter. First Trust Direct Indexing L.P. now owns 2,030 shares of the network technology company's stock worth $447,000 after buying an additional 58 shares in the last quarter. 90.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FFIV has been the subject of a number of research analyst reports. Royal Bank of Canada increased their target price on shares of F5 from $260.00 to $310.00 and gave the company a "sector perform" rating in a report 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. Evercore ISI lifted their price objective on F5 from $240.00 to $270.00 and gave the stock an "in-line" rating in a report on Friday, January 17th. Bank of America upped their target price on F5 from $180.00 to $260.00 and gave the company an "underperform" rating in a report on Friday, January 31st. Finally, Barclays lifted their price target on F5 from $246.00 to $296.00 and gave the stock an "equal weight" rating in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, F5 has a consensus rating of "Hold" and a consensus price target of $295.00.

Insider Buying and Selling

In related news, EVP Scot Frazier Rogers sold 3,486 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $293.18, for a total transaction of $1,022,025.48. Following the transaction, the executive vice president now directly owns 20,075 shares in the company, valued at approximately $5,885,588.50. This represents a 14.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Marianne Budnik sold 728 shares of the firm's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $304.45, for a total value of $221,639.60. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,060 shares of company stock worth $4,477,083. 0.52% of the stock is owned by insiders.

F5 Stock Performance

FFIV stock traded down $8.28 during trading on Monday, hitting $284.15. The stock had a trading volume of 724,794 shares, compared to its average volume of 612,887. F5, Inc. has a 1-year low of $159.01 and a 1-year high of $313.00. The stock has a market cap of $16.38 billion, a price-to-earnings ratio of 28.25, a price-to-earnings-growth ratio of 3.85 and a beta of 1.06. The company's 50 day moving average price is $279.95 and its two-hundred day moving average price is $245.69.

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.