Davis R M Inc. lowered its position in shares of F5 Networks, Inc. (NASDAQ:FFIV) by 18.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,270 shares of the network technology company’s stock after selling 6,960 shares during the period. Davis R M Inc.’s holdings in F5 Networks were worth $3,846,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the stock. IFP Advisors Inc increased its position in shares of F5 Networks by 65.6% in the second quarter. IFP Advisors Inc now owns 959 shares of the network technology company’s stock worth $122,000 after buying an additional 380 shares in the last quarter. American Beacon Advisors Inc. acquired a new position in shares of F5 Networks during the first quarter worth $153,000. Van ECK Associates Corp increased its position in shares of 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 in the last quarter. Bronfman E.L. Rothschild L.P. increased its position 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 worth $196,000 after buying an additional 67 shares in the last quarter. Finally, First Bank & Trust increased its position 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 worth $232,000 after buying an additional 5 shares in the last quarter. 96.92% of the stock is owned by institutional investors and hedge funds.
F5 Networks, Inc. (NASDAQ FFIV) opened at 119.78 on Monday. The company has a market capitalization of $7.61 billion, a P/E ratio of 19.89 and a beta of 1.16. The firm has a 50-day moving average of $127.32 and a 200 day moving average of $134.68. F5 Networks, Inc. has a 52-week low of $114.45 and a 52-week high of $149.50.
F5 Networks (NASDAQ:FFIV) last released its earnings results on Wednesday, July 26th. The network technology company reported $2.03 earnings per share for the quarter, hitting the consensus estimate of $2.03. The company had revenue of $517.80 million for the quarter, compared to the consensus estimate of $525.57 million. F5 Networks had a net margin of 18.96% and a return on equity of 33.85%. F5 Networks’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.81 EPS. Equities analysts predict that F5 Networks, Inc. will post $8.17 earnings per share for the current fiscal year.
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A number of brokerages have weighed in on FFIV. Barclays PLC decreased their target price on shares of F5 Networks from $124.00 to $116.00 and set an “overweight” rating for the company in a research note on Thursday, July 27th. Piper Jaffray Companies decreased their target price on shares of F5 Networks to $121.00 and set a “neutral” rating for the company in a research note on Thursday, July 27th. Zacks Investment Research downgraded shares of F5 Networks from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. BMO Capital Markets reaffirmed an “outperform” rating and set a $124.00 target price (down previously from $132.00) on shares of F5 Networks in a research note on Thursday, July 27th. Finally, Oppenheimer Holdings, Inc. downgraded shares of F5 Networks from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $145.00 to $120.00 in a research note on Thursday, July 27th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $132.00.
In other news, Director John Mcadam sold 10,000 shares of the company’s 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 sale, the director now directly owns 66,953 shares of the company’s stock, valued at approximately $8,715,272.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Francois Locoh-Donou sold 2,029 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $119.61, for a total transaction of $242,688.69. Following the completion of the sale, the chief executive officer now directly owns 2,636 shares in the company, valued at $315,291.96. The disclosure for this sale can be found here. Insiders sold a total of 29,050 shares of company stock worth $3,594,838 over the last ninety days. 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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