F5 (NASDAQ:FFIV) Price Target Raised to $360.00

F5 (NASDAQ:FFIV) had its target price increased by Needham & Company LLC from $285.00 to $360.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a buy rating on the network technology company’s stock.

A number of other equities research analysts also recently weighed in on FFIV. StockNews.com upgraded shares of F5 from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. lifted their target price on shares of F5 from $225.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Piper Sandler increased their price target on shares of F5 from $186.00 to $246.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Barclays lifted their price objective on F5 from $214.00 to $246.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Finally, The Goldman Sachs Group increased their target price on F5 from $212.00 to $241.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $295.00.

F5 Trading Down 1.4 %

Shares of NASDAQ:FFIV opened at $297.26 on Wednesday. The firm 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 has a 1-year low of $159.01 and a 1-year high of $308.00. The business’s 50 day moving average is $260.25 and its 200-day moving average is $227.89.

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

Insider Transactions at F5

In other news, Director Marianne Budnik sold 728 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 1,770 shares of the company’s stock, valued at $538,876.50. This represents a 29.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alan Higginson sold 825 shares of the business’s 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 transaction, the director now owns 9,882 shares of the company’s stock, valued at $2,369,407.14. This trade represents a 7.71 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On F5

Hedge funds and other institutional investors have recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new position in shares of F5 during the third quarter valued at $28,000. Kathleen S. Wright Associates Inc. bought a new position in shares of F5 in the 3rd quarter valued at about $32,000. Friedenthal Financial acquired a new stake in shares of F5 during the 4th quarter worth approximately $50,000. Brown Financial Advisors acquired a new stake in shares of F5 during the 2nd quarter worth approximately $66,000. Finally, Venturi Wealth Management LLC raised its stake in shares of F5 by 79.8% during the third 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 during the last quarter. 90.66% of the stock is owned by institutional investors and hedge funds.

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.