US Bancorp DE lowered its position in F5 Networks, Inc. (NASDAQ:FFIV) by 5.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 39,048 shares of the network technology company’s stock after selling 2,115 shares during the period. US Bancorp DE owned approximately 0.06% of F5 Networks worth $4,960,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of FFIV. Putnam Investments LLC acquired a new stake in shares of F5 Networks during the fourth quarter worth $201,000. Kentucky Retirement Systems acquired a new stake in shares of F5 Networks during the fourth quarter worth $686,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in F5 Networks during the fourth quarter worth $306,000. Chevy Chase Trust Holdings Inc. boosted its stake in F5 Networks by 2.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 55,851 shares of the network technology company’s stock worth $7,963,000 after buying an additional 1,273 shares during the period. Finally, Harding Loevner LP boosted its stake in F5 Networks by 3.2% in the first quarter. Harding Loevner LP now owns 1,907,775 shares of the network technology company’s stock worth $271,992,000 after buying an additional 58,469 shares during the period. 94.75% of the stock is currently owned by institutional investors.
F5 Networks, Inc. (FFIV) traded up 0.13% during trading on Friday, hitting $119.78. 507,471 shares of the stock were exchanged. The firm’s 50 day moving average price is $127.32 and its 200-day moving average price is $134.68. F5 Networks, Inc. has a 1-year low of $114.45 and a 1-year high of $149.50. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of 19.93 and a beta of 1.16.
F5 Networks (NASDAQ:FFIV) last announced its quarterly earnings data on Wednesday, July 26th. The network technology company reported $2.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.03. F5 Networks had a return on equity of 33.85% and a net margin of 18.96%. The company had revenue of $517.80 million for the quarter, compared to analysts’ expectations of $525.57 million. During the same quarter in the prior year, the business posted $1.81 EPS. The business’s revenue was up 4.3% compared to the same quarter last year. On average, analysts anticipate that F5 Networks, Inc. will post $8.17 EPS for the current year.
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A number of research firms recently weighed in on FFIV. Barclays PLC dropped their price objective on shares of F5 Networks from $124.00 to $116.00 and set an “overweight” rating on the stock in a report on Thursday, July 27th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $124.00 price objective (down previously from $132.00) on shares of F5 Networks in a report on Thursday, July 27th. Piper Jaffray Companies dropped their price objective on shares of F5 Networks to $121.00 and set a “neutral” rating on the stock in a report on Thursday, July 27th. Zacks Investment Research cut shares of F5 Networks from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Oppenheimer Holdings, Inc. cut shares of F5 Networks from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $145.00 to $120.00 in a research note on Thursday, July 27th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $132.00.
In other news, EVP Ryan C. Kearny sold 836 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $120.59, for a total transaction of $100,813.24. Following the sale, the executive vice president now owns 2,148 shares in the company, valued at approximately $259,027.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John Mcadam sold 10,000 shares of the stock in a transaction 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 completion of the sale, the director now owns 66,953 shares in the company, valued at approximately $8,715,272.01. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,050 shares of company stock worth $3,594,838. Company insiders own 0.26% of the company’s stock.
About F5 Networks
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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