CIBC Asset Management Inc Purchases 363 Shares of F5, Inc. (NASDAQ:FFIV)

CIBC Asset Management Inc increased its position in shares of F5, Inc. (NASDAQ:FFIV) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,924 shares of the network technology company’s stock after purchasing an additional 363 shares during the period. CIBC Asset Management Inc’s holdings in F5 were worth $2,244,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Friedenthal Financial acquired a new stake in shares of F5 during the fourth quarter worth $50,000. Venturi Wealth Management LLC increased its position in F5 by 79.8% during the third quarter. Venturi Wealth Management LLC now owns 320 shares of the network technology company’s stock worth $70,000 after acquiring an additional 142 shares during the period. Point72 Hong Kong Ltd acquired a new stake in F5 in the 3rd quarter worth about $84,000. Allworth Financial LP boosted its holdings in F5 by 1,132.1% in the 4th quarter. Allworth Financial LP now owns 345 shares of the network technology company’s stock valued at $94,000 after purchasing an additional 317 shares during the period. Finally, Wingate Wealth Advisors Inc. acquired a new position in shares of F5 during the 4th quarter worth approximately $99,000. 90.66% of the stock is currently owned by institutional investors.

F5 Price Performance

Shares of F5 stock opened at $295.56 on Friday. The company’s 50 day moving average price is $275.62 and its two-hundred day moving average price is $240.71. The firm has a market capitalization of $17.04 billion, a P/E ratio of 29.38, a P/E/G ratio of 3.91 and a beta of 1.06. F5, Inc. has a fifty-two week low of $159.01 and a fifty-two week high of $313.00.

F5 declared that its Board of Directors has initiated a share buyback program on Monday, October 28th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the network technology company to purchase up to 7.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of F5 from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Evercore ISI upped their target price on F5 from $240.00 to $270.00 and gave the company an “in-line” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. increased their target price on F5 from $225.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Barclays boosted their price target on F5 from $246.00 to $296.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Finally, Morgan Stanley increased their price objective on shares of F5 from $262.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, F5 currently has an average rating of “Hold” and a consensus target price of $295.00.

Insiders Place Their Bets

In other F5 news, EVP Chad Michael Whalen sold 4,093 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $290.33, for a total value of $1,188,320.69. Following the completion of the transaction, the executive vice president now directly owns 27,264 shares in the company, valued at approximately $7,915,557.12. This represents a 13.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Francois Locoh-Donou sold 6,500 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $303.06, for a total transaction of $1,969,890.00. Following the transaction, the chief executive officer now directly owns 151,247 shares of the company’s stock, valued at $45,836,915.82. The trade was a 4.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,574 shares of company stock valued at $3,455,057 in the last 90 days. Corporate insiders own 0.52% of the company’s stock.

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.