Mutual of America Capital Management LLC Reduces Holdings in F5, Inc. (NASDAQ:FFIV)

Mutual of America Capital Management LLC reduced its stake in F5, Inc. (NASDAQ:FFIV) by 2.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,176 shares of the network technology company’s stock after selling 216 shares during the period. Mutual of America Capital Management LLC’s holdings in F5 were worth $1,580,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of FFIV. Family Firm Inc. acquired a new position in shares of F5 in the second quarter valued at about $25,000. New Covenant Trust Company N.A. acquired a new position in F5 in the 1st quarter worth approximately $27,000. Northwest Investment Counselors LLC purchased a new position in F5 during the 3rd quarter worth approximately $28,000. Quest Partners LLC lifted its stake in F5 by 9,100.0% during the 2nd 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. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of F5 in the 3rd quarter valued at $32,000. 90.66% of the stock is currently owned by institutional investors and hedge funds.

F5 Trading Up 0.7 %

Shares of FFIV stock opened at $248.74 on Tuesday. The company has a market capitalization of $14.58 billion, a P/E ratio of 26.02, a P/E/G ratio of 3.34 and a beta of 1.05. F5, Inc. has a 12-month low of $159.01 and a 12-month high of $250.46. The business’s 50 day moving average is $227.29 and its two-hundred day moving average is $197.64.

F5 (NASDAQ:FFIV) last announced its earnings results on Monday, October 28th. The network technology company reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. The firm had revenue of $747.00 million for the quarter, compared to analyst estimates of $730.43 million. F5 had a return on equity of 20.80% and a net margin of 20.13%. The business’s revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.76 EPS. On average, research analysts predict that F5, Inc. will post 11.01 earnings per share for the current fiscal year.

F5 announced that its board has approved a share buyback plan on Monday, October 28th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the network technology company to buy up to 7.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insider Activity

In related news, Director Alan Higginson sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $201.65, for a total transaction of $201,650.00. Following the completion of the sale, the director now directly owns 10,707 shares in the company, valued at approximately $2,159,066.55. The trade was a 8.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Francis J. Pelzer sold 600 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $217.50, for a total value of $130,500.00. Following the completion of the transaction, the chief financial officer now owns 30,425 shares in the company, valued at $6,617,437.50. The trade was a 1.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,475 shares of company stock worth $977,039 over the last 90 days. 0.58% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Needham & Company LLC raised their target price on shares of F5 from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. StockNews.com raised F5 from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 29th. The Goldman Sachs Group raised their target price on F5 from $212.00 to $241.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Piper Sandler lifted their price target on F5 from $186.00 to $246.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Finally, Morgan Stanley upped their price objective on F5 from $215.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Seven research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $233.56.

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.