Benjamin F. Edwards & Company Inc. purchased a new position in F5 Networks, Inc. (NASDAQ:FFIV) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,760 shares of the network technology company’s stock, valued at approximately $756,000.
Several other institutional investors have also modified their holdings of FFIV. Acrospire Investment Management LLC increased its stake in F5 Networks by 100.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 800 shares of the network technology company’s stock valued at $102,000 after purchasing an additional 400 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in F5 Networks by 23.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 860 shares of the network technology company’s stock valued at $110,000 after purchasing an additional 161 shares in the last quarter. Zions Bancorporation increased its stake in F5 Networks by 16,733.3% during the 3rd quarter. Zions Bancorporation now owns 1,010 shares of the network technology company’s stock valued at $122,000 after purchasing an additional 1,004 shares in the last quarter. Institute for Wealth Management LLC. bought a new stake in F5 Networks during the 2nd quarter valued at about $234,000. Finally, QCM Cayman Ltd. increased its stake in F5 Networks by 14.8% during the 2nd quarter. QCM Cayman Ltd. now owns 1,937 shares of the network technology company’s stock valued at $246,000 after purchasing an additional 250 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.
Shares of F5 Networks, Inc. (NASDAQ FFIV) traded up $1.39 during mid-day trading on Friday, hitting $138.64. 902,856 shares of the stock were exchanged, compared to its average volume of 881,469. The company has a market capitalization of $8,810.00, a price-to-earnings ratio of 21.36, a PEG ratio of 2.11 and a beta of 1.08. F5 Networks, Inc. has a 52-week low of $114.63 and a 52-week high of $149.50.
F5 Networks declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, October 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the network technology company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
In related news, EVP Scot Frazier Rogers sold 2,738 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $144.83, for a total value of $396,544.54. Following the transaction, the executive vice president now owns 9,072 shares of the company’s stock, valued at $1,313,897.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John D. Dilullo sold 3,801 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $142.69, for a total transaction of $542,364.69. Following the completion of the transaction, the executive vice president now directly owns 7,522 shares in the company, valued at approximately $1,073,314.18. The disclosure for this sale can be found here. In the last three months, insiders sold 10,209 shares of company stock worth $1,467,119. 0.26% of the stock is currently owned by insiders.
A number of analysts have weighed in on the stock. Zacks Investment Research upgraded shares of F5 Networks from a “hold” rating to a “buy” rating and set a $154.00 price objective for the company in a research note on Wednesday, January 10th. Piper Jaffray Companies restated a “neutral” rating and set a $146.00 price objective on shares of F5 Networks in a research note on Wednesday, January 10th. DA Davidson set a $155.00 price objective on shares of F5 Networks and gave the company a “buy” rating in a research note on Wednesday, January 17th. Deutsche Bank restated a “sell” rating on shares of F5 Networks in a research note on Friday, January 5th. Finally, Jefferies Group reiterated a “hold” rating on shares of F5 Networks in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company’s stock. F5 Networks currently has an average rating of “Hold” and an average target price of $140.30.
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F5 Networks 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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