F5 (NASDAQ:FFIV) Price Target Cut to $262.00 by Analysts at Piper Sandler

F5 (NASDAQ:FFIV) had its price objective reduced by analysts at Piper Sandler from $304.00 to $262.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the network technology company’s stock. Piper Sandler’s price target would suggest a potential upside of 2.78% from the stock’s previous close.

FFIV has been the subject of a number of other reports. 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 report on Wednesday, January 29th. Bank of America upped their target price on shares of F5 from $180.00 to $260.00 and gave the stock an “underperform” rating in a report on Friday, January 31st. The Goldman Sachs Group raised their target price on F5 from $257.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Evercore ISI lifted their price objective on shares of F5 from $240.00 to $270.00 and gave the stock an “in-line” rating in a report on Friday, January 17th. Finally, Morgan Stanley increased their target price on shares of F5 from $262.00 to $310.00 and gave the company an “equal weight” 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 issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $290.33.

F5 Stock Up 4.7 %

F5 stock traded up $11.43 during mid-day trading on Tuesday, hitting $254.91. 110,670 shares of the stock were exchanged, compared to its average volume of 601,272. The stock has a market capitalization of $14.70 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 3.85 and a beta of 1.14. F5 has a 12 month low of $159.01 and a 12 month high of $313.00. The firm’s fifty day simple moving average is $283.49 and its two-hundred day simple moving average is $256.96.

Insiders Place Their Bets

In related news, CEO Francois Locoh-Donou sold 1,300 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $265.37, for a total value of $344,981.00. Following the completion of the transaction, the chief executive officer now directly owns 148,647 shares of the company’s stock, valued at approximately $39,446,454.39. This trade represents a 0.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Marianne Budnik sold 1,872 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $260.72, for a total value of $488,067.84. Following the sale, the director now owns 1,207 shares in the company, valued at approximately $314,689.04. This represents a 60.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,232 shares of company stock valued at $5,310,131 over the last ninety days. 0.52% of the stock is currently owned by insiders.

Institutional Trading of F5

Several institutional investors and hedge funds have recently bought and sold shares of FFIV. Park Square Financial Group LLC purchased a new position in shares of F5 in the fourth quarter worth $31,000. Crowley Wealth Management Inc. bought a new position in F5 during the 4th quarter valued at approximately $35,000. Hurley Capital LLC bought a new stake in shares of F5 in the 4th quarter worth approximately $43,000. Friedenthal Financial purchased a new position in F5 during the 4th quarter valued at $50,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of F5 by 31.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 203 shares of the network technology company’s stock valued at $51,000 after purchasing an additional 49 shares during the period. 90.66% of the stock is currently owned by hedge funds and other institutional investors.

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.