Panagora Asset Management Inc. reduced its stake in F5, Inc. (NASDAQ:FFIV – Free Report) by 66.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,523 shares of the network technology company’s stock after selling 301,460 shares during the period. Panagora Asset Management Inc. owned approximately 0.27% of F5 worth $38,423,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Hazlett Burt & Watson Inc. acquired a new stake in shares of F5 in the fourth quarter valued at $26,000. Hantz Financial Services Inc. raised its stake in shares of F5 by 109.8% in the fourth quarter. Hantz Financial Services Inc. now owns 107 shares of the network technology company’s stock valued at $27,000 after acquiring an additional 56 shares in the last quarter. Elyxium Wealth LLC acquired a new stake in shares of F5 in the fourth quarter valued at $28,000. Abich Financial Wealth Management LLC acquired a new stake in shares of F5 in the third quarter valued at $37,000. Finally, UMB Bank n.a. raised its stake in shares of F5 by 64.5% in the fourth quarter. UMB Bank n.a. now owns 153 shares of the network technology company’s stock valued at $39,000 after acquiring an additional 60 shares in the last quarter. 90.66% of the stock is currently owned by institutional investors and hedge funds.
F5 Price Performance
F5 stock opened at $396.81 on Tuesday. F5, Inc. has a 1-year low of $223.76 and a 1-year high of $411.52. The stock has a market cap of $22.39 billion, a PE ratio of 32.55, a P/E/G ratio of 4.65 and a beta of 1.04. The stock’s fifty day moving average is $350.93 and its two-hundred day moving average is $298.96.
Insider Buying and Selling
In other news, Director Elizabeth Buse sold 1,000 shares of F5 stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $399.35, for a total transaction of $399,350.00. Following the sale, the director owned 4,947 shares in the company, valued at approximately $1,975,584.45. The trade was a 16.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas Dean Fountain sold 1,328 shares of F5 stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $330.58, for a total value of $439,010.24. Following the sale, the executive vice president owned 8,060 shares in the company, valued at $2,664,474.80. This trade represents a 14.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 22,579 shares of company stock valued at $7,836,860 over the last 90 days. 0.48% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
FFIV has been the topic of several analyst reports. JPMorgan Chase & Co. increased their price objective on F5 from $355.00 to $365.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Morgan Stanley increased their price objective on F5 from $340.00 to $380.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 20th. Bank of America raised their price target on F5 from $250.00 to $300.00 and gave the company an “underperform” rating in a research note on Tuesday, May 26th. Piper Sandler raised their price target on F5 from $356.00 to $423.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Finally, Barclays raised their price target on F5 from $292.00 to $386.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $382.67.
Read Our Latest Research Report on F5
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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