F5, Inc. (NASDAQ:FFIV) Shares Purchased by State of Michigan Retirement System

State of Michigan Retirement System boosted its position in shares of F5, Inc. (NASDAQ:FFIV) by 2.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,588 shares of the network technology company’s stock after acquiring an additional 400 shares during the period. State of Michigan Retirement System’s holdings in F5 were worth $3,374,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of F5 by 0.4% during the first quarter. Vanguard Group Inc. now owns 7,465,022 shares of the network technology company’s stock worth $1,415,294,000 after purchasing an additional 29,154 shares in the last quarter. Lyrical Asset Management LP boosted its position in shares of F5 by 38.3% during the 4th quarter. Lyrical Asset Management LP now owns 1,145,302 shares of the network technology company’s stock worth $204,986,000 after acquiring an additional 317,263 shares in the last quarter. First Trust Advisors LP boosted its position in shares of F5 by 0.5% during the 4th quarter. First Trust Advisors LP now owns 1,122,995 shares of the network technology company’s stock worth $200,994,000 after acquiring an additional 6,010 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of F5 by 14.2% in the 1st quarter. Acadian Asset Management LLC now owns 625,734 shares of the network technology company’s stock valued at $118,607,000 after acquiring an additional 77,611 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of F5 by 9.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 523,982 shares of the network technology company’s stock worth $90,245,000 after acquiring an additional 45,843 shares in the last quarter. 90.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on FFIV shares. StockNews.com raised F5 from a “buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Barclays increased their target price on shares of F5 from $189.00 to $214.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Evercore ISI boosted their price target on shares of F5 from $180.00 to $210.00 and gave the company an “in-line” rating in a research report on Tuesday, July 30th. Piper Sandler raised their price objective on F5 from $167.00 to $186.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. lifted their target price on F5 from $210.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $200.89.

Insider Activity at F5

In other F5 news, EVP Scot Frazier Rogers sold 3,315 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $168.46, for a total transaction of $558,444.90. Following the completion of the transaction, the executive vice president now owns 19,493 shares in the company, valued at approximately $3,283,790.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Thomas Dean Fountain sold 851 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $192.71, for a total value of $163,996.21. Following the completion of the sale, the executive vice president now directly owns 16,000 shares of the company’s stock, valued at approximately $3,083,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scot Frazier Rogers sold 3,315 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $168.46, for a total value of $558,444.90. Following the transaction, the executive vice president now directly owns 19,493 shares in the company, valued at approximately $3,283,790.78. The disclosure for this sale can be found here. Insiders have sold a total of 13,786 shares of company stock worth $2,443,690 in the last three months. Insiders own 0.58% of the company’s stock.

F5 Stock Performance

Shares of FFIV opened at $199.71 on Wednesday. F5, Inc. has a fifty-two week low of $145.45 and a fifty-two week high of $205.92. The firm has a 50-day simple moving average of $182.24 and a 200-day simple moving average of $180.91. The company has a market capitalization of $11.71 billion, a price-to-earnings ratio of 23.92, a price-to-earnings-growth ratio of 2.49 and a beta of 1.08.

F5 (NASDAQ:FFIV) last posted its quarterly earnings data on Monday, July 29th. The network technology company reported $3.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.39. The company had revenue of $695.50 million during the quarter, compared to analysts’ expectations of $686.06 million. F5 had a return on equity of 21.03% and a net margin of 19.94%. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period last year, the firm earned $2.46 EPS. Equities research analysts forecast that F5, Inc. will post 10.03 EPS for the current year.

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.