F5, Inc. (NASDAQ:FFIV) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its holdings in shares of F5, Inc. (NASDAQ:FFIV) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 50,695 shares of the network technology company’s stock after selling 235 shares during the quarter. New York State Teachers Retirement System’s holdings in F5 were worth $11,163,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of FFIV. Norden Group LLC purchased a new stake in shares of F5 during the first quarter worth about $317,000. Van ECK Associates Corp increased its position in shares of F5 by 6.6% during the first quarter. Van ECK Associates Corp now owns 10,362 shares of the network technology company’s stock worth $1,965,000 after acquiring an additional 642 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of F5 by 10.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 84,242 shares of the network technology company’s stock worth $14,602,000 after acquiring an additional 8,058 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of F5 by 28.1% during the first quarter. BNP Paribas Financial Markets now owns 89,906 shares of the network technology company’s stock worth $17,045,000 after acquiring an additional 19,746 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of F5 by 10.2% during the first quarter. Daiwa Securities Group Inc. now owns 5,796 shares of the network technology company’s stock worth $1,099,000 after acquiring an additional 537 shares during 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 topic of a number of analyst reports. Royal Bank of Canada lifted their target price on F5 from $205.00 to $240.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 29th. Morgan Stanley boosted their price objective on F5 from $215.00 to $230.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Evercore ISI boosted their price objective on F5 from $180.00 to $210.00 and gave the company an “in-line” rating in a report on Tuesday, July 30th. Piper Sandler boosted their price objective on F5 from $186.00 to $246.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Finally, The Goldman Sachs Group boosted their price objective on F5 from $212.00 to $241.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $233.56.

F5 Stock Down 0.7 %

Shares of FFIV stock opened at $232.20 on Friday. The business has a 50 day moving average of $214.78 and a two-hundred day moving average of $189.96. F5, Inc. has a 52 week low of $149.40 and a 52 week high of $250.46. The company has a market cap of $13.53 billion, a P/E ratio of 24.29, a PEG ratio of 3.17 and a beta of 1.05.

F5 (NASDAQ:FFIV) last issued its earnings results on Monday, October 28th. The network technology company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. The company had revenue of $747.00 million during the quarter, compared to the consensus estimate of $730.43 million. F5 had a return on equity of 20.80% and a net margin of 20.13%. F5’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.76 earnings per share. Analysts expect that F5, Inc. will post 10.99 EPS for the current fiscal year.

F5 announced that its board has authorized a share repurchase program on Monday, October 28th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the network technology company to purchase up to 7.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at F5

In other news, CEO Francois Locoh-Donou sold 1,450 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $188.35, for a total transaction of $273,107.50. Following the completion of the transaction, the chief executive officer now directly owns 124,022 shares in the company, valued at approximately $23,359,543.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Francois Locoh-Donou sold 1,450 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $188.35, for a total transaction of $273,107.50. Following the completion of the transaction, the chief executive officer now directly owns 124,022 shares in the company, valued at approximately $23,359,543.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Alan Higginson sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $201.65, for a total value of $201,650.00. Following the completion of the sale, the director now owns 10,707 shares of the company’s stock, valued at $2,159,066.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,700 shares of company stock worth $1,170,702. Company insiders own 0.58% of the company’s stock.

F5 Profile

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.