F5 Networks, Inc. (FFIV) Position Raised by OppenheimerFunds Inc.

OppenheimerFunds Inc. raised its position in shares of F5 Networks, Inc. (NASDAQ:FFIV) by 6.1% during the first quarter, Holdings Channel reports. The institutional investor owned 1,705 shares of the network technology company’s stock after buying an additional 98 shares during the period. OppenheimerFunds Inc.’s holdings in F5 Networks were worth $243,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FFIV. Van ECK Associates Corp boosted its position in F5 Networks by 6.0% in the first quarter. Van ECK Associates Corp now owns 1,153 shares of the network technology company’s stock worth $164,000 after buying an additional 65 shares during the period. Bronfman E.L. Rothschild L.P. boosted its stake in shares of F5 Networks by 5.1% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,376 shares of the network technology company’s stock valued at $196,000 after buying an additional 67 shares during the last quarter. Putnam Investments LLC bought a new stake in shares of F5 Networks during the fourth quarter valued at about $201,000. First Bank & Trust boosted its stake in shares of F5 Networks by 0.3% in the first quarter. First Bank & Trust now owns 1,630 shares of the network technology company’s stock valued at $232,000 after buying an additional 5 shares during the last quarter. Finally, Contravisory Investment Management Inc. bought a new stake in shares of F5 Networks during the first quarter valued at about $261,000. Hedge funds and other institutional investors own 94.88% of the company’s stock.

Shares of F5 Networks, Inc. (NASDAQ:FFIV) opened at 128.02 on Wednesday. The stock’s 50 day moving average is $128.38 and its 200 day moving average is $135.58. The stock has a market capitalization of $8.28 billion, a PE ratio of 21.85 and a beta of 1.17. F5 Networks, Inc. has a 52 week low of $114.45 and a 52 week high of $149.50.

F5 Networks (NASDAQ:FFIV) last posted its earnings results on Wednesday, April 26th. The network technology company reported $1.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.52 by $0.06. F5 Networks had a net margin of 18.88% and a return on equity of 33.53%. The business had revenue of $518.20 million for the quarter, compared to analysts’ expectations of $523.12 million. During the same period last year, the firm posted $1.68 earnings per share. F5 Networks’s quarterly revenue was up 7.1% on a year-over-year basis. Analysts anticipate that F5 Networks, Inc. will post $8.20 EPS for the current fiscal year.

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Several analysts have recently issued reports on FFIV shares. Deutsche Bank AG cut F5 Networks from a “hold” rating to a “sell” rating and reduced their price objective for the company from $120.00 to $100.00 in a research note on Wednesday, March 29th. Needham & Company LLC reiterated a “hold” rating on shares of F5 Networks in a research note on Thursday, March 30th. Oppenheimer Holdings, Inc. set a $157.00 price objective on F5 Networks and gave the company a “buy” rating in a research note on Saturday, April 8th. Credit Suisse Group set a $138.00 price objective on F5 Networks and gave the company a “hold” rating in a research note on Thursday, April 20th. Finally, Drexel Hamilton reiterated a “buy” rating and issued a $165.00 price objective on shares of F5 Networks in a research note on Monday, April 24th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $137.33.

In other news, CFO Andrew Reinland sold 6,235 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $127.40, for a total transaction of $794,339.00. Following the transaction, the chief financial officer now directly owns 18,602 shares of the company’s stock, valued at $2,369,894.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Mcadam sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $130.17, for a total value of $1,301,700.00. Following the transaction, the director now directly owns 66,953 shares in the company, valued at $8,715,272.01. The disclosure for this sale can be found here. Insiders have sold 25,146 shares of company stock worth $3,234,190 over the last three months. Insiders own 0.26% of the company’s stock.

F5 Networks Company Profile

F5 Networks, Inc is a developer and provider of software defined application services. The Company is engaged in the development, marketing and sale of application delivery networking products that optimize the security, performance and availability of network applications, servers and storage systems.

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