Investment Management Corp of Ontario Sells 12,806 Shares of F5, Inc. (NASDAQ:FFIV)

Investment Management Corp of Ontario lessened its holdings in shares of F5, Inc. (NASDAQ:FFIV - Free Report) by 86.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,950 shares of the network technology company's stock after selling 12,806 shares during the period. Investment Management Corp of Ontario's holdings in F5 were worth $429,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Family Firm Inc. acquired a new stake in F5 in the 2nd quarter worth $25,000. Northwest Investment Counselors LLC acquired a new stake in F5 during the third quarter worth about $28,000. Quest Partners LLC increased its stake in F5 by 9,100.0% during the second quarter. Quest Partners LLC now owns 184 shares of the network technology company's stock valued at $32,000 after acquiring an additional 182 shares during the period. Kathleen S. Wright Associates Inc. acquired a new position in F5 in the 3rd quarter valued at approximately $32,000. Finally, Blue Trust Inc. raised its holdings in F5 by 49.7% in the 2nd quarter. Blue Trust Inc. now owns 241 shares of the network technology company's stock valued at $46,000 after acquiring an additional 80 shares in the last quarter. Institutional investors own 90.66% of the company's stock.

F5 Price Performance

Shares of NASDAQ:FFIV traded up $0.09 during trading on Friday, reaching $257.14. The stock had a trading volume of 649,317 shares, compared to its average volume of 454,583. The stock has a market capitalization of $15.07 billion, a PE ratio of 26.90, a P/E/G ratio of 3.44 and a beta of 1.06. The business's 50-day moving average price is $233.39 and its 200 day moving average price is $202.67. F5, Inc. has a 52 week low of $159.01 and a 52 week high of $259.75.

F5 (NASDAQ:FFIV - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The network technology company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.45 by $0.22. The business had revenue of $747.00 million for the quarter, compared to analysts' expectations of $730.43 million. F5 had a net margin of 20.13% and a return on equity of 20.80%. F5's revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.76 earnings per share. Analysts forecast that F5, Inc. will post 11.01 EPS for the current year.

F5 announced that its Board of Directors has approved a stock buyback plan on Monday, October 28th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the network technology company to reacquire up to 7.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Morgan Stanley lifted their price objective on F5 from $215.00 to $230.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 29th. Barclays lifted their price target on shares of F5 from $214.00 to $246.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. increased their price objective on shares of F5 from $225.00 to $250.00 and gave the company a "neutral" rating in a research note on Tuesday, October 29th. Piper Sandler lifted their target price on shares of F5 from $186.00 to $246.00 and gave the company a "neutral" rating in a research report on Tuesday, October 29th. Finally, Royal Bank of Canada raised their price target on shares of F5 from $205.00 to $240.00 and gave the stock a "sector perform" rating in a research note on Tuesday, October 29th. Seven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, F5 has a consensus rating of "Hold" and an average price target of $233.56.

Insider Buying and Selling

In related news, CFO Francis J. Pelzer sold 600 shares of the company's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $217.50, for a total value of $130,500.00. Following the completion of the sale, the chief financial officer now owns 30,425 shares in the company, valued at approximately $6,617,437.50. This represents a 1.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 value of $197,810.25. Following the completion of the transaction, the director now directly owns 9,882 shares in the company, valued at $2,369,407.14. The trade was a 7.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,475 shares of company stock worth $977,039 over the last three months. 0.58% of the stock is currently owned by company insiders.

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.