Lazard Asset Management LLC cut its holdings in shares of F5, Inc. (NASDAQ:FFIV – Free Report) by 61.6% during the first quarter, HoldingsChannel.com reports. The firm owned 5,795 shares of the network technology company’s stock after selling 9,281 shares during the period. Lazard Asset Management LLC’s holdings in F5 were worth $1,677,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in FFIV. OMERS ADMINISTRATION Corp boosted its position in shares of F5 by 23.6% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 12,823 shares of the network technology company’s stock worth $3,710,000 after purchasing an additional 2,446 shares in the last quarter. Lombard Odier Asset Management Switzerland SA acquired a new position in F5 during the 1st quarter valued at about $767,000. Entropy Technologies LP purchased a new stake in F5 in the first quarter valued at about $1,486,000. Bridgewater Advisors Inc. purchased a new stake in F5 in the first quarter valued at about $170,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in F5 by 55.7% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,550 shares of the network technology company’s stock worth $1,027,000 after acquiring an additional 1,270 shares in the last quarter. Hedge funds and other institutional investors own 90.66% of the company’s stock.
F5 Price Performance
FFIV stock opened at $406.35 on Tuesday. The company has a market capitalization of $22.93 billion, a P/E ratio of 32.35, a price-to-earnings-growth ratio of 3.97 and a beta of 1.03. F5, Inc. has a 12 month low of $223.76 and a 12 month high of $435.00. The firm’s fifty day simple moving average is $401.82 and its 200-day simple moving average is $335.32.
Insider Buying and Selling
In other news, EVP Chad Michael Whalen sold 6,200 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $350.19, for a total value of $2,171,178.00. Following the sale, the executive vice president owned 20,832 shares in the company, valued at $7,295,158.08. This represents a 22.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Edward Cooper Werner sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $400.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer directly owned 406 shares in the company, valued at approximately $162,400. This trade represents a 86.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 15,200 shares of company stock worth $5,651,328. Corporate insiders own 0.48% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on FFIV shares. Needham & Company LLC restated a “hold” rating on shares of F5 in a research note on Tuesday, July 28th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of F5 in a research report on Friday, June 26th. Bank of America lifted their target price on shares of F5 from $250.00 to $300.00 and gave the stock an “underperform” rating in a research note on Tuesday, May 26th. JPMorgan Chase & Co. boosted their target price on shares of F5 from $500.00 to $515.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of F5 in a research note on Thursday, July 16th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $416.62.
Read Our Latest Analysis on FFIV
About F5
F5 Inc (NASDAQ:FFIV) specializes in application services and delivery networking, helping organizations ensure the availability, performance and security of their applications. The company’s core offerings include advanced load balancing, traffic management and application security solutions designed to optimize user experiences and protect against threats such as distributed denial-of-service (DDoS) attacks and web application exploits.
At the heart of F5’s product portfolio is the BIG-IP platform, which provides a suite of software modules for local and global traffic management, secure web application firewalling and DNS service delivery.
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