American International Group Inc. Lowers Holdings in F5, Inc. (NASDAQ:FFIV)

Posted by Defense World Staff on Jun 6th, 2023

American International Group Inc. trimmed its position in shares of F5, Inc. (NASDAQ:FFIV – Get Rating) by 2.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 16,200 shares of the network technology company’s stock after selling 363 shares during the quarter. American International Group Inc.’s holdings in F5 were worth $2,325,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Point72 Asset Management L.P. bought a new position in F5 in the third quarter worth about $47,457,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of F5 during the 3rd quarter valued at approximately $28,193,000. First Trust Advisors LP lifted its position in shares of F5 by 19.8% during the 1st quarter. First Trust Advisors LP now owns 1,075,970 shares of the network technology company’s stock valued at $224,824,000 after buying an additional 178,042 shares in the last quarter. Vanguard Group Inc. lifted its holdings in F5 by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 6,830,286 shares of the network technology company’s stock valued at $1,427,188,000 after purchasing an additional 96,873 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of F5 by 14.7% during the 1st quarter. Invesco Ltd. now owns 714,798 shares of the network technology company’s stock worth $149,358,000 after acquiring an additional 91,580 shares during the period. Hedge funds and other institutional investors own 93.34% of the company’s stock.

Insider Transactions at F5

In other news, EVP Thomas Dean Fountain sold 919 shares of the stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $133.02, for a total transaction of $122,245.38. Following the completion of the transaction, the executive vice president now directly owns 11,490 shares in the company, valued at approximately $1,528,399.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Michael L. Dreyer sold 2,750 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $143.19, for a total value of $393,772.50. Following the completion of the sale, the director now directly owns 5,347 shares in the company, valued at approximately $765,636.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas Dean Fountain sold 919 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $133.02, for a total transaction of $122,245.38. Following the completion of the sale, the executive vice president now owns 11,490 shares of the company’s stock, valued at $1,528,399.80. The disclosure for this sale can be found here. Insiders sold a total of 11,511 shares of company stock worth $1,596,004 in the last three months. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on FFIV. Royal Bank of Canada dropped their target price on F5 from $155.00 to $146.00 and set a “sector perform” rating for the company in a research report on Thursday, April 20th. The Goldman Sachs Group started coverage on F5 in a report on Monday, March 6th. They issued a “neutral” rating on the stock. StockNews.com began coverage on F5 in a research report on Thursday, May 18th. They issued a “strong-buy” rating on the stock. KeyCorp dropped their price target on F5 from $182.00 to $179.00 and set an “overweight” rating for the company in a research note on Thursday, April 20th. Finally, Barclays lowered F5 from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $166.00 to $140.00 in a research note on Thursday, April 20th. Ten research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, F5 presently has an average rating of “Hold” and an average price target of $166.13.

F5 Trading Down 1.2 %

FFIV stock opened at $144.96 on Tuesday. The stock has a 50-day moving average price of $140.65 and a two-hundred day moving average price of $144.05. The stock has a market cap of $8.77 billion, a PE ratio of 26.84, a price-to-earnings-growth ratio of 2.12 and a beta of 1.08. F5, Inc. has a 1 year low of $127.05 and a 1 year high of $174.38.

F5 (NASDAQ:FFIV – Get Rating) last released its earnings results on Wednesday, April 19th. The network technology company reported $2.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.11. F5 had a return on equity of 16.56% and a net margin of 11.74%. The firm had revenue of $703.00 million during the quarter, compared to analysts’ expectations of $699.18 million. During the same quarter in the prior year, the company earned $1.30 EPS. The company’s revenue was up 10.9% on a year-over-year basis. On average, analysts forecast that F5, Inc. will post 7.79 earnings per share for the current fiscal year.

F5 Company Profile

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F5, Inc engages development and provision of software defined application services. It offers the development, marketing and sale of application delivery networking products that optimize the security, performance, and availability of network applications, servers, and storage systems. The company was founded on February 26, 1996, and is headquartered in Seattle, WA.