Convergence Investment Partners LLC Takes Position in F5, Inc. (NASDAQ:FFIV)

Convergence Investment Partners LLC bought a new stake in shares of F5, Inc. (NASDAQ:FFIV) during the fourth quarter, Holdings Channel reports. The institutional investor bought 6,830 shares of the network technology company’s stock, valued at approximately $1,718,000.

Other institutional investors also recently modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. raised its holdings in F5 by 2.8% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,607 shares of the network technology company’s stock worth $404,000 after buying an additional 44 shares during the last quarter. Empirical Finance LLC grew its position in F5 by 2.3% during the third quarter. Empirical Finance LLC now owns 2,049 shares of the network technology company’s stock valued at $451,000 after buying an additional 46 shares during the period. Captrust Financial Advisors boosted its position in F5 by 2.0% during the third quarter. Captrust Financial Advisors now owns 2,598 shares of the network technology company’s stock worth $572,000 after purchasing an additional 50 shares during the period. First Trust Direct Indexing L.P. boosted its position 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 purchasing an additional 58 shares during the period. Finally, Greenleaf Trust boosted its position in F5 by 5.7% during the fourth quarter. Greenleaf Trust now owns 1,091 shares of the network technology company’s stock worth $274,000 after purchasing an additional 59 shares during the period. Institutional investors and hedge funds own 90.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Piper Sandler increased 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. JPMorgan Chase & Co. lifted their price target on shares of F5 from $225.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Bank of America lifted their price target on shares of F5 from $180.00 to $260.00 and gave the stock an “underperform” rating in a research note on Friday, January 31st. StockNews.com upgraded shares of F5 from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Morgan Stanley raised their target price 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. One analyst has rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $295.00.

Insider Buying and Selling at F5

In other F5 news, EVP Chad Michael Whalen sold 4,093 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $290.33, for a total value of $1,188,320.69. Following the completion of the transaction, the executive vice president now owns 27,264 shares of the company’s stock, valued at approximately $7,915,557.12. The trade was a 13.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Francois Locoh-Donou sold 6,500 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $303.06, for a total value 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 trade represents a 4.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,574 shares of company stock valued at $3,455,057. 0.52% of the stock is currently owned by company insiders.

F5 Trading Down 0.8 %

Shares of F5 stock opened at $307.59 on Wednesday. The firm has a market capitalization of $17.84 billion, a P/E ratio of 30.58, a P/E/G ratio of 3.90 and a beta of 1.06. The business has a fifty day simple moving average of $273.09 and a two-hundred day simple moving average of $239.01. F5, Inc. has a 12 month low of $159.01 and a 12 month high of $313.00.

F5 declared that its Board of Directors has authorized a share buyback program on Monday, October 28th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the network technology company to reacquire up to 7.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

F5 Company 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.