F5, Inc. (NASDAQ:FFIV) Shares Purchased by Tidal Investments LLC

Tidal Investments LLC grew its position in shares of F5, Inc. (NASDAQ:FFIV) by 22.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 12,825 shares of the network technology company’s stock after purchasing an additional 2,325 shares during the quarter. Tidal Investments LLC’s holdings in F5 were worth $2,824,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Chase Investment Counsel Corp bought a new stake in F5 in the third quarter worth about $4,726,000. Bank of Montreal Can raised its holdings in shares of F5 by 3.9% in the 2nd quarter. Bank of Montreal Can now owns 308,159 shares of the network technology company’s stock worth $53,247,000 after purchasing an additional 11,525 shares in the last quarter. Dai ichi Life Insurance Company Ltd raised its holdings in shares of F5 by 10.5% in the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 28,820 shares of the network technology company’s stock worth $4,964,000 after purchasing an additional 2,730 shares in the last quarter. New York State Common Retirement Fund lifted its stake in F5 by 14.3% during the third quarter. New York State Common Retirement Fund now owns 70,536 shares of the network technology company’s stock valued at $15,532,000 after purchasing an additional 8,800 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in F5 by 9.6% during the second quarter. Bank of New York Mellon Corp now owns 523,982 shares of the network technology company’s stock worth $90,245,000 after buying an additional 45,843 shares in the last quarter. Institutional investors own 90.66% of the company’s stock.

Insiders Place Their Bets

In other F5 news, CEO Francois Locoh-Donou sold 1,450 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $218.26, for a total value of $316,477.00. Following the completion of the sale, the chief executive officer now owns 121,122 shares of the company’s stock, valued at $26,436,087.72. The trade was a 1.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Francis J. Pelzer sold 600 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $217.50, for a total value of $130,500.00. Following the transaction, the chief financial officer now directly owns 30,425 shares in the company, valued at approximately $6,617,437.50. This represents a 1.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,475 shares of company stock valued at $775,389 in the last three months. Insiders own 0.58% of the company’s stock.

F5 Stock Performance

FFIV stock opened at $261.81 on Monday. The stock has a market cap of $15.35 billion, a P/E ratio of 27.39, a P/E/G ratio of 3.52 and a beta of 1.06. The firm has a 50 day simple moving average of $237.40 and a 200 day simple moving average of $205.85. F5, Inc. has a 52 week low of $159.01 and a 52 week high of $264.50.

F5 (NASDAQ:FFIV) last issued its earnings results on Monday, October 28th. The network technology company reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. F5 had a net margin of 20.13% and a return on equity of 20.80%. The company had revenue of $747.00 million during the quarter, compared to analyst estimates of $730.43 million. During the same quarter last year, the business posted $2.76 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. Sell-side analysts predict that F5, Inc. will post 11.01 EPS for the current year.

F5 announced that its Board of Directors has initiated a share repurchase program on Monday, October 28th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the network technology company to reacquire up to 7.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have issued reports on FFIV shares. Morgan Stanley upped their price target on F5 from $215.00 to $230.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Piper Sandler upped their target price on F5 from $186.00 to $246.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. The Goldman Sachs Group lifted their price target on F5 from $212.00 to $241.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. StockNews.com upgraded F5 from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Royal Bank of Canada raised their target price on shares of F5 from $205.00 to $240.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 29th. Seven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $233.56.

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.