Custom Index Systems LLC Has $827,000 Stock Holdings in F5, Inc. (NASDAQ:FFIV)

Custom Index Systems LLC lifted its holdings in F5, Inc. (NASDAQ:FFIV) by 16.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,288 shares of the network technology company’s stock after buying an additional 453 shares during the quarter. Custom Index Systems LLC’s holdings in F5 were worth $827,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Chase Investment Counsel Corp bought a new position in shares of F5 in the third quarter worth about $4,726,000. JPMorgan Chase & Co. raised its position in 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 purchasing an additional 81,005 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in F5 by 14.3% during 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 buying an additional 8,800 shares in the last quarter. GAMMA Investing LLC boosted its position in F5 by 36.3% in the 4th quarter. GAMMA Investing LLC now owns 2,144 shares of the network technology company’s stock valued at $539,000 after buying an additional 571 shares during the last quarter. Finally, Addenda Capital Inc. increased its stake in shares of F5 by 43.5% in the 4th quarter. Addenda Capital Inc. now owns 50,314 shares of the network technology company’s stock valued at $12,652,000 after buying an additional 15,240 shares during the period. Institutional investors and hedge funds own 90.66% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FFIV shares. Evercore ISI upped their price target on F5 from $240.00 to $270.00 and gave the company an “in-line” rating in a research note on Friday, January 17th. Piper Sandler upped their target price on shares of F5 from $246.00 to $304.00 and gave the company a “neutral” rating in a research report on Wednesday. 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 report on Friday. The Goldman Sachs Group increased their price objective on shares of F5 from $257.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Needham & Company LLC lifted their target price on shares of F5 from $285.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $295.00.

Insider Activity

In related news, Director Alan Higginson sold 825 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $239.77, for a total transaction of $197,810.25. Following the completion of the sale, the director now directly owns 9,882 shares of the company’s stock, valued at approximately $2,369,407.14. This represents a 7.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marianne Budnik sold 728 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $304.45, for a total transaction of $221,639.60. Following the sale, the director now owns 1,770 shares in the company, valued at $538,876.50. This trade represents a 29.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.58% of the stock is owned by company insiders.

F5 Stock Performance

Shares of NASDAQ:FFIV opened at $297.26 on Friday. The company has a 50 day moving average price of $260.25 and a two-hundred day moving average price of $227.89. The company has a market capitalization of $17.24 billion, a PE ratio of 29.55, a PEG ratio of 4.06 and a beta of 1.06. F5, Inc. has a 52 week low of $159.01 and a 52 week high of $308.00.

F5 announced that its board has initiated a stock buyback plan on Monday, October 28th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the network technology company to reacquire up to 7.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is 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.