Choreo LLC Acquires 783 Shares of F5, Inc. (NASDAQ:FFIV)

Choreo LLC grew its holdings in F5, Inc. (NASDAQ:FFIV) by 56.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,163 shares of the network technology company’s stock after acquiring an additional 783 shares during the quarter. Choreo LLC’s holdings in F5 were worth $546,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Northwest Investment Counselors LLC bought a new position in F5 during the 3rd quarter worth about $28,000. Friedenthal Financial bought a new position in shares of F5 during the fourth quarter worth about $50,000. Venturi Wealth Management LLC raised its position in F5 by 79.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 320 shares of the network technology company’s stock valued at $70,000 after buying an additional 142 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in F5 in the 3rd quarter valued at approximately $84,000. Finally, Blue Trust Inc. lifted its stake in F5 by 156.0% in the 3rd quarter. Blue Trust Inc. now owns 617 shares of the network technology company’s stock valued at $136,000 after acquiring an additional 376 shares in the last quarter. Institutional investors and hedge funds own 90.66% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of F5 from $260.00 to $310.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 29th. Piper Sandler lifted their price target on shares of F5 from $246.00 to $304.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. boosted their price target on shares of F5 from $225.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Bank of America raised their price objective on F5 from $180.00 to $260.00 and gave the company an “underperform” rating in a report on Friday, January 31st. Finally, Barclays upped their target price on F5 from $246.00 to $296.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $295.00.

Insiders Place Their Bets

In related news, insider Lyra Amber Schramm sold 253 shares of the company’s stock in a transaction dated Saturday, February 1st. The shares were sold at an average price of $297.26, for a total value of $75,206.78. Following the transaction, the insider now owns 200 shares in the company, valued at approximately $59,452. This represents a 55.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alan Higginson sold 825 shares of the stock in a transaction dated Tuesday, November 19th. The shares were 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 directly owns 9,882 shares in the company, valued at approximately $2,369,407.14. This represents a 7.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,899 shares of company stock valued at $1,682,977 over the last 90 days. 0.52% of the stock is currently owned by insiders.

F5 Stock Performance

Shares of FFIV stock opened at $308.39 on Wednesday. F5, Inc. has a 52-week low of $159.01 and a 52-week high of $310.77. The stock has a market cap of $17.89 billion, a price-to-earnings ratio of 30.66, a PEG ratio of 3.90 and a beta of 1.06. The firm’s 50-day moving average is $267.74 and its 200-day moving average is $234.93.

F5 announced that its board has authorized a stock buyback program on Monday, October 28th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the network technology company to purchase up to 7.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

F5 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.