F5, Inc. (NASDAQ:FFIV) EVP Chad Michael Whalen Sells 4,093 Shares of Stock

F5, Inc. (NASDAQ:FFIV) EVP Chad Michael Whalen sold 4,093 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $290.33, for a total transaction 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 SEC, which is available at the SEC website.

F5 Trading Up 1.6 %

Shares of FFIV stock opened at $299.78 on Wednesday. F5, Inc. has a 12-month low of $159.01 and a 12-month high of $308.00. The company has a market cap of $17.39 billion, a price-to-earnings ratio of 29.80, a price-to-earnings-growth ratio of 3.97 and a beta of 1.06. The stock has a 50 day simple moving average of $262.14 and a 200-day simple moving average of $230.26.

F5 announced that its board has approved a share repurchase plan on Monday, October 28th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the network technology company to buy up to 7.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On F5

Several institutional investors have recently made changes to their positions in FFIV. Northwest Investment Counselors LLC purchased a new position in F5 in the 3rd quarter valued at approximately $28,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of F5 in the third quarter valued at $32,000. Friedenthal Financial acquired a new position in shares of F5 during the 4th quarter worth $50,000. Venturi Wealth Management LLC boosted its position in shares of F5 by 79.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 320 shares of the network technology company’s stock worth $70,000 after buying an additional 142 shares in the last quarter. Finally, Global Retirement Partners LLC grew its stake in F5 by 783.3% in the 4th quarter. Global Retirement Partners LLC now owns 318 shares of the network technology company’s stock valued at $80,000 after acquiring an additional 282 shares during the last quarter. 90.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on FFIV. The Goldman Sachs Group boosted their price target on shares of F5 from $257.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Morgan Stanley boosted their price objective on F5 from $262.00 to $310.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. increased their target price 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. Piper Sandler boosted their price target on F5 from $246.00 to $304.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada increased their price objective on F5 from $260.00 to $310.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, F5 has a consensus rating of “Hold” and an average price target of $295.00.

About F5

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.