Edge Capital Group LLC Acquires Shares of 237,098 F5, Inc. (NASDAQ:FFIV)

Edge Capital Group LLC acquired a new stake in shares of F5, Inc. (NASDAQ:FFIV) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 237,098 shares of the network technology company’s stock, valued at approximately $59,623,000. F5 makes up 3.2% of Edge Capital Group LLC’s investment portfolio, making the stock its 5th biggest position.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Chase Investment Counsel Corp acquired a new position in shares of F5 in the 3rd quarter worth approximately $4,726,000. JPMorgan Chase & Co. boosted its holdings in shares of F5 by 24.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 409,130 shares of the network technology company’s stock worth $90,090,000 after acquiring an additional 81,005 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of F5 by 457.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 31,375 shares of the network technology company’s stock worth $7,899,000 after acquiring an additional 25,748 shares in the last quarter. Boston Trust Walden Corp boosted its holdings in shares of F5 by 3.9% in the 4th quarter. Boston Trust Walden Corp now owns 194,820 shares of the network technology company’s stock worth $48,991,000 after acquiring an additional 7,341 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in shares of F5 by 14.3% in the 3rd quarter. New York State Common Retirement Fund now owns 70,536 shares of the network technology company’s stock worth $15,532,000 after acquiring an additional 8,800 shares in the last quarter. 90.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at F5

In other news, EVP Chad Michael Whalen sold 4,093 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were 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 $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 is available at this hyperlink. Also, Director Marianne Budnik sold 728 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $304.45, for a total transaction of $221,639.60. Following the completion of the transaction, the director now directly owns 1,770 shares of the company’s stock, valued at $538,876.50. This trade represents a 29.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,574 shares of company stock worth $3,455,057. Insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on FFIV shares. Piper Sandler boosted their target price on F5 from $246.00 to $304.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. boosted their target price on F5 from $225.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Needham & Company LLC boosted their price objective on shares of F5 from $285.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Morgan Stanley boosted 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. Finally, Barclays boosted their price objective on shares of F5 from $246.00 to $296.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $295.00.

F5 Stock Performance

Shares of F5 stock opened at $295.56 on Monday. The firm has a fifty day moving average of $275.62 and a two-hundred day moving average of $241.47. The stock has a market capitalization of $17.04 billion, a price-to-earnings ratio of 29.38, a PEG ratio of 3.85 and a beta of 1.06. F5, Inc. has a 52 week low of $159.01 and a 52 week high of $313.00.

F5 declared that its Board of Directors has initiated a stock repurchase plan on Monday, October 28th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the network technology company to buy up to 7.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

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.