PNC Financial Services Group Inc. Trims Position in F5, Inc. (NASDAQ:FFIV)

PNC Financial Services Group Inc. reduced its position in F5, Inc. (NASDAQ:FFIV) by 1.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 6,925 shares of the network technology company’s stock after selling 75 shares during the period. PNC Financial Services Group Inc.’s holdings in F5 were worth $1,525,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FFIV. American Century Companies Inc. grew its position in shares of F5 by 10.5% in the second quarter. American Century Companies Inc. now owns 1,709,296 shares of the network technology company’s stock valued at $294,392,000 after purchasing an additional 162,820 shares during the period. Pacer Advisors Inc. grew its holdings in F5 by 6,700.2% in the 2nd 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 holdings 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 acquiring an additional 214,351 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of F5 by 8.9% in the second quarter. Dimensional Fund Advisors LP now owns 598,605 shares of the network technology company’s stock worth $103,096,000 after acquiring an additional 48,742 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in F5 by 9.6% in the second 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 purchasing an additional 45,843 shares during the period. 90.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at F5

In other news, Director Alan Higginson sold 1,000 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $201.65, for a total transaction of $201,650.00. Following the transaction, the director now owns 10,707 shares of the company’s stock, valued at approximately $2,159,066.55. This trade represents a 8.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Francois Locoh-Donou sold 1,450 shares of the business’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $218.26, for a total value of $316,477.00. Following the completion of the sale, 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. Over the last quarter, insiders sold 4,475 shares of company stock valued at $977,039. 0.58% of the stock is currently owned by corporate insiders.

F5 Price Performance

Shares of NASDAQ FFIV opened at $251.92 on Wednesday. F5, Inc. has a 1-year low of $159.01 and a 1-year high of $252.16. The company has a market capitalization of $14.77 billion, a price-to-earnings ratio of 26.35, a PEG ratio of 3.34 and a beta of 1.05. The business has a 50-day moving average of $227.29 and a 200-day moving average of $197.64.

F5 (NASDAQ:FFIV) 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 firm 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%. F5’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.76 EPS. Research analysts expect that F5, Inc. will post 11.01 EPS for the current fiscal year.

F5 declared that its Board of Directors has approved a stock repurchase program on Monday, October 28th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the network technology company to buy up to 7.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

FFIV has been the topic of a number of recent analyst reports. Evercore ISI increased their price target on shares of F5 from $180.00 to $210.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 30th. Piper Sandler lifted their target price on F5 from $186.00 to $246.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. StockNews.com raised F5 from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Needham & Company LLC raised their price objective on F5 from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Morgan Stanley boosted their target price on F5 from $215.00 to $230.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Seven investment 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. According to data from MarketBeat, F5 has an average rating of “Hold” and an average target price of $233.56.

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.