Fiduciary Trust Co. lowered its stake in shares of F5 Networks, Inc. (NASDAQ:FFIV) by 8.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,798 shares of the network technology company’s stock after selling 2,335 shares during the period. Fiduciary Trust Co.’s holdings in F5 Networks were worth $3,535,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FFIV. Putnam Investments LLC bought a new position in F5 Networks during the fourth quarter valued at $201,000. Thrivent Financial for Lutherans boosted its stake in shares of F5 Networks by 10.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 56,917 shares of the network technology company’s stock worth $8,237,000 after buying an additional 5,290 shares in the last quarter. Winslow Evans & Crocker Inc. boosted its stake in shares of F5 Networks by 0.6% in the first quarter. Winslow Evans & Crocker Inc. now owns 2,418 shares of the network technology company’s stock worth $345,000 after buying an additional 14 shares in the last quarter. CFO4Life Group LLC acquired a new stake in shares of F5 Networks during the first quarter worth approximately $413,000. Finally, Legal & General Group Plc boosted its stake in shares of F5 Networks by 6.0% in the first quarter. Legal & General Group Plc now owns 315,821 shares of the network technology company’s stock worth $45,026,000 after buying an additional 17,834 shares in the last quarter. 95.86% of the stock is owned by hedge funds and other institutional investors.
Shares of F5 Networks, Inc. (FFIV) opened at 126.58 on Tuesday. F5 Networks, Inc. has a 52 week low of $114.45 and a 52 week high of $149.50. The stock has a 50 day moving average of $128.85 and a 200 day moving average of $137.65. The stock has a market cap of $8.19 billion, a P/E ratio of 21.60 and a beta of 1.17.
F5 Networks (NASDAQ:FFIV) last announced its quarterly earnings results on Wednesday, April 26th. The network technology company reported $1.46 earnings per share for the quarter, missing the consensus estimate of $1.52 by $0.06. The firm had revenue of $518.20 million for the quarter, compared to analyst estimates of $523.12 million. F5 Networks had a net margin of 18.88% and a return on equity of 33.53%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.68 EPS. On average, analysts expect that F5 Networks, Inc. will post $8.19 earnings per share for the current year.
A number of brokerages have commented on FFIV. Jefferies Group LLC reaffirmed a “hold” rating and set a $130.00 target price on shares of F5 Networks in a report on Friday, June 16th. Drexel Hamilton reaffirmed a “buy” rating and set a $165.00 target price on shares of F5 Networks in a report on Monday, April 24th. Piper Jaffray Companies cut shares of F5 Networks from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $144.00 to $136.00 in a report on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of F5 Networks in a report on Thursday, March 30th. Finally, Oppenheimer Holdings, Inc. set a $157.00 target price on shares of F5 Networks and gave the company a “buy” rating in a report on Saturday, April 8th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $136.65.
In other F5 Networks news, COO Edward Julian Eames sold 4,645 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $127.76, for a total value of $593,445.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Ryan C. Kearny sold 846 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $127.95, for a total transaction of $108,245.70. Following the completion of the transaction, the executive vice president now directly owns 1,071 shares in the company, valued at approximately $137,034.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,146 shares of company stock worth $3,234,190. Corporate 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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