Summit Global Investments Invests $495,000 in F5, Inc. (NASDAQ:FFIV)

Summit Global Investments bought a new stake in F5, Inc. (NASDAQ:FFIV - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,859 shares of the network technology company's stock, valued at approximately $495,000.

Other large investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in 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 buying an additional 25,748 shares during the last quarter. Boston Trust Walden Corp boosted its stake in 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 buying an additional 7,341 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of F5 by 163.3% in the 4th quarter. Fisher Asset Management LLC now owns 80,013 shares of the network technology company's stock worth $20,121,000 after purchasing an additional 49,629 shares during the period. Aware Super Pty Ltd as trustee of Aware Super purchased a new position in shares of F5 in the 4th quarter worth about $5,856,000. Finally, Jupiter Asset Management Ltd. raised its holdings in shares of F5 by 83.1% in the 4th quarter. Jupiter Asset Management Ltd. now owns 296,506 shares of the network technology company's stock worth $74,562,000 after purchasing an additional 134,537 shares during the period. Institutional investors and hedge funds own 90.66% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on FFIV shares. Barclays cut their price objective on F5 from $296.00 to $274.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 29th. Piper Sandler boosted their price target on F5 from $262.00 to $269.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 29th. Morgan Stanley upped their target price on F5 from $269.00 to $280.00 and gave the company an "equal weight" rating in a report on Tuesday, April 29th. Needham & Company LLC reaffirmed a "buy" rating and set a $320.00 price objective on shares of F5 in a research report on Tuesday, April 29th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $290.00 price objective on shares of F5 in a report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $282.56.

F5 Price Performance

Shares of F5 stock traded up $0.13 during midday trading on Thursday, hitting $293.96. 471,505 shares of the company were exchanged, compared to its average volume of 568,368. The firm has a market cap of $16.88 billion, a P/E ratio of 29.22, a PEG ratio of 3.85 and a beta of 1.00. F5, Inc. has a 52 week low of $164.45 and a 52 week high of $313.00. The firm has a 50 day simple moving average of $269.96 and a 200-day simple moving average of $270.44.

F5 (NASDAQ:FFIV - Get Free Report) last posted its earnings results on Monday, April 28th. The network technology company reported $3.42 EPS for the quarter, topping the consensus estimate of $3.11 by $0.31. The business had revenue of $590.16 million during the quarter, compared to the consensus estimate of $719.91 million. F5 had a return on equity of 20.98% and a net margin of 20.58%. F5's revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company earned $2.91 EPS. Equities research analysts expect that F5, Inc. will post 11.2 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Alan Higginson sold 1,272 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $286.69, for a total value of $364,669.68. Following the transaction, the director now directly owns 9,919 shares in the company, valued at $2,843,678.11. This trade represents a 11.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Marianne Budnik sold 1,872 shares of the company's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $260.72, for a total value of $488,067.84. Following the transaction, the director now directly owns 1,207 shares of the company's stock, valued at $314,689.04. This represents a 60.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,891 shares of company stock worth $2,418,732 in the last 90 days. 0.52% of the stock is owned by company insiders.

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.