Zurcher Kantonalbank Zurich Cantonalbank Sells 10,450 Shares of F5, Inc. (NASDAQ:FFIV)

Zurcher Kantonalbank Zurich Cantonalbank cut its position in shares of F5, Inc. (NASDAQ:FFIV) by 11.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 79,389 shares of the network technology company’s stock after selling 10,450 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.14% of F5 worth $19,964,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in FFIV. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of F5 by 3.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,489,388 shares of the network technology company’s stock valued at $1,208,763,000 after acquiring an additional 191,020 shares in the last quarter. State Street Corp increased its position in F5 by 0.5% during the 3rd quarter. State Street Corp now owns 3,187,222 shares of the network technology company’s stock valued at $701,825,000 after purchasing an additional 16,663 shares during the period. Geode Capital Management LLC raised its holdings in shares of F5 by 8.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,573,995 shares of the network technology company’s stock valued at $345,560,000 after purchasing an additional 117,080 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of 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 period. Finally, Retirement Systems of Alabama boosted its stake in shares of F5 by 7.7% during the third quarter. Retirement Systems of Alabama now owns 377,387 shares of the network technology company’s stock valued at $83,101,000 after purchasing an additional 27,124 shares in the last quarter. 90.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Needham & Company LLC upped their target price on F5 from $285.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Evercore ISI upped their price objective on F5 from $240.00 to $270.00 and gave the stock an “in-line” rating in a research note on Friday, January 17th. Bank of America raised their price objective on F5 from $180.00 to $260.00 and gave the company an “underperform” rating in a research report on Friday, January 31st. Piper Sandler boosted their target price on shares of F5 from $246.00 to $304.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Finally, Royal Bank of Canada raised their price target on shares of F5 from $260.00 to $310.00 and gave the company a “sector perform” rating in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, seven have given 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 company currently has a consensus rating of “Hold” and a consensus target price of $295.00.

Insiders Place Their Bets

In related news, CEO Francois Locoh-Donou sold 6,500 shares of F5 stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $303.06, for a total transaction of $1,969,890.00. Following the completion of the sale, the chief executive officer now owns 151,247 shares of the company’s stock, valued at $45,836,915.82. The trade was a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Scot Frazier Rogers sold 3,486 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $293.18, for a total transaction of $1,022,025.48. Following the completion of the transaction, the executive vice president now owns 20,075 shares in the company, valued at approximately $5,885,588.50. This trade represents a 14.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,060 shares of company stock valued at $4,477,083. Insiders own 0.52% of the company’s stock.

F5 Stock Down 0.4 %

FFIV opened at $265.31 on Wednesday. The company has a market cap of $15.30 billion, a P/E ratio of 26.37, a price-to-earnings-growth ratio of 3.85 and a beta of 1.10. The firm’s 50-day moving average price is $282.29 and its 200-day moving average price is $248.94. F5, Inc. has a 52-week low of $159.01 and a 52-week high of $313.00.

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.