Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of F5, Inc. (NASDAQ:FFIV - Free Report) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 149,891 shares of the network technology company's stock after buying an additional 2,032 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.26% of F5 worth $37,693,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new position in shares of F5 during the third quarter valued at about $28,000. Friedenthal Financial acquired a new position in shares of F5 during the fourth quarter valued at about $50,000. Venturi Wealth Management LLC grew its holdings in shares of F5 by 79.8% during the third quarter. Venturi Wealth Management LLC now owns 320 shares of the network technology company's stock valued at $70,000 after buying an additional 142 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in F5 during the third quarter worth about $84,000. Finally, Blue Trust Inc. boosted its holdings in F5 by 156.0% during the third quarter. Blue Trust Inc. now owns 617 shares of the network technology company's stock worth $136,000 after purchasing an additional 376 shares during the last quarter. 90.66% of the stock is currently owned by institutional investors and hedge funds.
F5 Stock Performance
FFIV traded down $0.27 during midday trading on Friday, reaching $310.18. The company had a trading volume of 435,746 shares, compared to its average volume of 687,336. The stock has a market cap of $17.88 billion, a PE ratio of 30.83, a P/E/G ratio of 3.90 and a beta of 1.06. F5, Inc. has a 12-month low of $159.01 and a 12-month high of $312.76. The business has a 50-day moving average price of $271.00 and a two-hundred day moving average price of $237.15.
F5 announced that its board has authorized a share buyback program on Monday, October 28th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the network technology company to reacquire up to 7.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.
Analysts Set New Price Targets
Several research firms recently weighed in on FFIV. Needham & Company LLC boosted their price target on shares of F5 from $285.00 to $360.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Royal Bank of Canada boosted their price target on shares of F5 from $260.00 to $310.00 and gave the stock a "sector perform" rating in a report on Wednesday, January 29th. Morgan Stanley boosted their price target on shares of F5 from $262.00 to $310.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 29th. Piper Sandler boosted their price target on shares of F5 from $246.00 to $304.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Finally, Barclays boosted their price target on shares of F5 from $246.00 to $296.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, F5 has a consensus rating of "Hold" and an average price target of $295.00.
Get Our Latest Research Report on F5
Insider Activity
In other news, Director Alan Higginson sold 825 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $239.77, for a total value of $197,810.25. Following the sale, the director now owns 9,882 shares of the company's stock, valued at $2,369,407.14. The trade was a 7.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Marianne Budnik sold 728 shares of the company's stock in a transaction that occurred on Thursday, January 30th. The stock was 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 $538,876.50. This trade represents a 29.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,399 shares of company stock valued at $3,652,867 over the last quarter. Company 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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