Principal Financial Group Inc. lowered its position in shares of F5 Networks, Inc. (NASDAQ:FFIV) by 4.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 84,182 shares of the network technology company’s stock after selling 3,884 shares during the period. Principal Financial Group Inc. owned about 0.14% of F5 Networks worth $14,811,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of FFIV. Mariner LLC bought a new stake in F5 Networks during the 4th quarter worth $66,257,000. Swedbank grew its position in F5 Networks by 29.2% during the 4th quarter. Swedbank now owns 1,399,796 shares of the network technology company’s stock worth $245,888,000 after acquiring an additional 316,694 shares during the last quarter. Alliancebernstein L.P. grew its position in F5 Networks by 24.7% during the 4th quarter. Alliancebernstein L.P. now owns 1,103,313 shares of the network technology company’s stock worth $194,117,000 after acquiring an additional 218,555 shares during the last quarter. Artemis Investment Management LLP bought a new stake in F5 Networks during the 4th quarter worth $26,160,000. Finally, Wells Fargo & Company MN lifted its holdings in F5 Networks by 41.3% during the 4th quarter. Wells Fargo & Company MN now owns 502,878 shares of the network technology company’s stock worth $88,476,000 after buying an additional 146,881 shares during the period. Institutional investors and hedge funds own 90.69% of the company’s stock.
Shares of F5 Networks stock opened at $207.20 on Tuesday. F5 Networks, Inc. has a one year low of $116.79 and a one year high of $216.15. The firm has a market capitalization of $12.77 billion, a price-to-earnings ratio of 41.27, a PEG ratio of 2.33 and a beta of 1.13. The business has a 50-day simple moving average of $200.14 and a 200 day simple moving average of $174.45. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.39 and a quick ratio of 1.37.
FFIV has been the topic of several recent research reports. Morgan Stanley lifted their target price on F5 Networks from $205.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, January 27th. Smith Barney Citigroup lifted their target price on F5 Networks from $165.00 to $190.00 in a report on Friday, January 8th. Barclays lifted their target price on F5 Networks from $212.00 to $235.00 and gave the stock an “overweight” rating in a report on Thursday, January 14th. Piper Sandler lifted their target price on F5 Networks from $216.00 to $223.00 in a report on Tuesday, March 2nd. Finally, Royal Bank of Canada boosted their price objective on F5 Networks from $182.00 to $200.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $195.78.
In other F5 Networks news, EVP Ana Maria White sold 258 shares of the business’s stock in a transaction that occurred on Thursday, April 1st. The stock was sold at an average price of $210.44, for a total transaction of $54,293.52. Following the completion of the sale, the executive vice president now directly owns 17,346 shares of the company’s stock, valued at approximately $3,650,292.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Francis J. Pelzer sold 500 shares of the business’s stock in a transaction that occurred on Friday, January 15th. The stock was sold at an average price of $192.57, for a total value of $96,285.00. Following the sale, the chief financial officer now directly owns 10,931 shares of the company’s stock, valued at $2,104,982.67. The disclosure for this sale can be found here. Insiders sold a total of 16,794 shares of company stock valued at $3,340,367 over the last ninety days. 0.34% of the stock is currently owned by corporate insiders.
About F5 Networks
F5 Networks, Inc provides multi-cloud application services for the security, performance, and availability of network applications, servers, and storage systems. The company's multi-cloud application services enable its customers to develop, deploy, operate, secure, and govern applications in any architecture, from on-premises to the public cloud.
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