Penserra Capital Management LLC Cuts Position in F5, Inc. (NASDAQ:FFIV)

Penserra Capital Management LLC reduced its position in F5, Inc. (NASDAQ:FFIV - Free Report) by 22.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 288,514 shares of the network technology company's stock after selling 84,843 shares during the quarter. F5 accounts for approximately 1.4% of Penserra Capital Management LLC's holdings, making the stock its 14th biggest holding. Penserra Capital Management LLC owned approximately 0.50% of F5 worth $63,530,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. grew its holdings in F5 by 10.5% during the 2nd quarter. American Century Companies Inc. now owns 1,709,296 shares of the network technology company's stock worth $294,392,000 after acquiring an additional 162,820 shares in the last quarter. Pacer Advisors Inc. increased its holdings in F5 by 6,700.2% during the second quarter. Pacer Advisors Inc. now owns 848,388 shares of the network technology company's stock valued at $146,118,000 after buying an additional 835,912 shares during the period. AQR Capital Management LLC lifted its stake in shares of F5 by 48.9% during the 2nd quarter. AQR Capital Management LLC now owns 652,972 shares of the network technology company's stock worth $111,932,000 after purchasing an additional 214,351 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of F5 by 8.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 598,605 shares of the network technology company's stock valued at $103,096,000 after purchasing an additional 48,742 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in F5 by 9.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 523,982 shares of the network technology company's stock valued at $90,245,000 after buying an additional 45,843 shares in the last quarter. Institutional investors own 90.66% of the company's stock.

F5 Trading Up 1.1 %

FFIV stock traded up $2.69 during midday trading on Friday, reaching $246.98. The stock had a trading volume of 346,441 shares, compared to its average volume of 721,421. The company has a market cap of $14.48 billion, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 3.30 and a beta of 1.05. F5, Inc. has a 52-week low of $159.01 and a 52-week high of $250.46. The company's fifty day simple moving average is $226.58 and its 200 day simple moving average is $197.09.

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

F5 declared that its Board of Directors has approved a share repurchase plan on Monday, October 28th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the network technology company to purchase up to 7.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on FFIV shares. Piper Sandler raised their price target on F5 from $186.00 to $246.00 and gave the stock a "neutral" rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. lifted their target price on shares of F5 from $225.00 to $250.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 29th. Morgan Stanley upped their price target on shares of F5 from $215.00 to $230.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 29th. Royal Bank of Canada lifted their price objective 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. Finally, Needham & Company LLC upped their target price on F5 from $220.00 to $235.00 and gave the company a "buy" rating in a research report on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, F5 has a consensus rating of "Hold" and an average price target of $233.56.

Insider Buying and Selling at F5

In other news, Director Alan Higginson sold 825 shares of F5 stock in a transaction dated Tuesday, November 19th. The stock was 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 owns 9,882 shares in the company, valued at approximately $2,369,407.14. This trade represents a 7.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Francois Locoh-Donou sold 1,450 shares of the business's stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $218.26, for a total value of $316,477.00. Following the transaction, the chief executive officer now directly owns 121,122 shares of the company's stock, valued at approximately $26,436,087.72. This represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,575 shares of company stock valued at $997,039 in the last three months. 0.58% of the stock is owned by corporate insiders.

F5 Company 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.