Wells Fargo & Company MN lessened its position in F5 Networks, Inc. (NASDAQ:FFIV) by 3.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 346,779 shares of the network technology company’s stock after selling 13,890 shares during the period. Wells Fargo & Company MN owned 0.55% of F5 Networks worth $44,061,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. IFP Advisors Inc increased its holdings in F5 Networks by 65.6% in the 2nd quarter. IFP Advisors Inc now owns 959 shares of the network technology company’s stock worth $122,000 after purchasing an additional 380 shares in the last quarter. American Beacon Advisors Inc. bought a new stake in shares of F5 Networks in the 1st quarter valued at about $153,000. Van ECK Associates Corp grew its position in shares of F5 Networks by 6.0% in the 1st quarter. Van ECK Associates Corp now owns 1,153 shares of the network technology company’s stock valued at $164,000 after buying an additional 65 shares during the last quarter. Bronfman E.L. Rothschild L.P. grew its position in shares of F5 Networks by 1.5% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,397 shares of the network technology company’s stock valued at $178,000 after buying an additional 21 shares during the last quarter. Finally, Contravisory Investment Management Inc. grew its position in shares of F5 Networks by 0.8% in the 2nd quarter. Contravisory Investment Management Inc. now owns 1,846 shares of the network technology company’s stock valued at $235,000 after buying an additional 14 shares during the last quarter. 96.50% of the stock is owned by institutional investors and hedge funds.
Shares of F5 Networks, Inc. (NASDAQ:FFIV) opened at 116.90 on Tuesday. F5 Networks, Inc. has a 1-year low of $114.45 and a 1-year high of $149.50. The stock’s 50 day moving average is $117.86 and its 200 day moving average is $129.24. The firm has a market capitalization of $7.43 billion, a P/E ratio of 19.42 and a beta of 1.16.
F5 Networks (NASDAQ:FFIV) last issued its earnings results on Wednesday, July 26th. The network technology company reported $2.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.03. The business had revenue of $517.80 million during the quarter, compared to analysts’ expectations of $525.57 million. F5 Networks had a net margin of 18.96% and a return on equity of 33.85%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.81 EPS. Equities analysts predict that F5 Networks, Inc. will post $8.17 earnings per share for the current year.
In other F5 Networks news, EVP Benjamin Gibson sold 3,262 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $117.25, for a total transaction of $382,469.50. Following the completion of the transaction, the executive vice president now directly owns 815 shares in the company, valued at approximately $95,558.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Francois Locoh-Donou sold 2,029 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $119.61, for a total transaction of $242,688.69. Following the transaction, the chief executive officer now owns 2,636 shares of the company’s stock, valued at $315,291.96. The disclosure for this sale can be found here. Insiders sold a total of 22,312 shares of company stock valued at $2,675,607 in the last 90 days. Company insiders own 0.26% of the company’s stock.
A number of research firms have commented on FFIV. Wells Fargo & Company lowered F5 Networks from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $145.00 to $120.00 in a research report on Thursday, July 27th. Piper Jaffray Companies cut their price target on F5 Networks to $121.00 and set a “neutral” rating on the stock in a report on Thursday, July 27th. Jefferies Group LLC reiterated a “hold” rating and issued a $130.00 price target on shares of F5 Networks in a report on Friday, June 16th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of F5 Networks in a report on Tuesday, September 12th. Finally, Cowen and Company reiterated an “outperform” rating and issued a $145.00 price target on shares of F5 Networks in a report on Monday, June 5th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company’s stock. F5 Networks presently has an average rating of “Hold” and an average price target of $130.81.
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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