PNC Financial Services Group Inc. Grows Holdings in F5, Inc. (NASDAQ:FFIV)

PNC Financial Services Group Inc. increased its position in shares of F5, Inc. (NASDAQ:FFIV) by 7.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,435 shares of the network technology company’s stock after purchasing an additional 510 shares during the quarter. PNC Financial Services Group Inc.’s holdings in F5 were worth $1,870,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FFIV. Friedenthal Financial bought a new stake in F5 in the fourth quarter worth about $50,000. Smithfield Trust Co bought a new stake in F5 in the fourth quarter worth about $57,000. Global Retirement Partners LLC raised its position in F5 by 783.3% in the fourth quarter. Global Retirement Partners LLC now owns 318 shares of the network technology company’s stock worth $80,000 after acquiring an additional 282 shares during the period. Allworth Financial LP raised its position in F5 by 1,132.1% in the fourth quarter. Allworth Financial LP now owns 345 shares of the network technology company’s stock worth $94,000 after acquiring an additional 317 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in F5 in the third quarter worth about $84,000. 90.66% of the stock is currently owned by hedge funds and other institutional investors.

F5 Trading Up 2.0 %

F5 stock opened at $262.46 on Friday. The firm’s 50 day simple moving average is $282.85 and its 200 day simple moving average is $249.90. The firm has a market capitalization of $15.13 billion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 3.85 and a beta of 1.10. F5, Inc. has a 1-year low of $159.01 and a 1-year high of $313.00.

Insiders Place Their Bets

In other F5 news, Director Marianne Budnik sold 1,872 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $260.72, for a total value of $488,067.84. Following the completion of the transaction, the director now owns 1,207 shares of the company’s stock, valued at $314,689.04. The trade was a 60.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Francois Locoh-Donou sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $303.06, for a total transaction of $1,969,890.00. Following the completion of the transaction, the chief executive officer now directly owns 151,247 shares of the company’s stock, valued at approximately $45,836,915.82. This represents a 4.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,932 shares of company stock valued at $4,965,150 in the last quarter. Corporate insiders own 0.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on FFIV shares. Morgan Stanley lifted their price objective on shares of F5 from $262.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Piper Sandler boosted their price target on shares of F5 from $246.00 to $304.00 and gave the company a “neutral” rating in a research 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 company a “sector perform” rating in a research report on Wednesday, January 29th. Evercore ISI boosted their price target on shares of F5 from $240.00 to $270.00 and gave the company an “in-line” rating in a research report on Friday, January 17th. Finally, Bank of America boosted their price target on shares of F5 from $180.00 to $260.00 and gave the company an “underperform” rating in a research report on Friday, January 31st. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $295.00.

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.