CIBC Asset Management Inc cut its stake in F5 Networks, Inc. (NASDAQ:FFIV) by 1.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,177 shares of the network technology company’s stock after selling 118 shares during the period. CIBC Asset Management Inc’s holdings in F5 Networks were worth $1,039,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. American Beacon Advisors Inc. acquired a new position in F5 Networks during the first quarter valued at $153,000. Van ECK Associates Corp boosted its stake in 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 during the period. Bronfman E.L. Rothschild L.P. boosted its stake in 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 during the period. First Bank & Trust boosted its stake in 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 during the period. Finally, Contravisory Investment Management Inc. boosted its stake in F5 Networks by 0.8% in the second quarter. Contravisory Investment Management Inc. now owns 1,846 shares of the network technology company’s stock worth $235,000 after buying an additional 14 shares during the period. Hedge funds and other institutional investors own 96.92% of the company’s stock.
F5 Networks, Inc. (NASDAQ:FFIV) opened at 117.82 on Friday. The stock has a 50 day moving average price of $124.87 and a 200-day moving average price of $133.50. The company has a market cap of $7.49 billion, a price-to-earnings ratio of 19.57 and a beta of 1.16. F5 Networks, Inc. has a 1-year low of $114.45 and a 1-year high of $149.50.
F5 Networks (NASDAQ:FFIV) last posted its earnings results on Wednesday, July 26th. The network technology company reported $2.03 EPS for the quarter, meeting the Zacks’ consensus estimate of $2.03. F5 Networks had a return on equity of 33.85% and a net margin of 18.96%. The firm had revenue of $517.80 million for the quarter, compared to analysts’ expectations of $525.57 million. During the same period last year, the firm earned $1.81 EPS. The company’s quarterly revenue was up 4.3% on a year-over-year basis. On average, equities research analysts forecast that F5 Networks, Inc. will post $8.17 EPS for the current year.
A number of analysts recently commented on FFIV shares. Zacks Investment Research cut F5 Networks from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Piper Jaffray Companies cut F5 Networks from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $144.00 to $136.00 in a research report on Friday, July 14th. Credit Suisse Group set a $138.00 price objective on F5 Networks and gave the company a “hold” rating in a research report on Thursday, April 20th. Royal Bank Of Canada reiterated a “hold” rating and set a $132.00 price objective on shares of F5 Networks in a research report on Monday, May 29th. Finally, Morgan Stanley reduced their price objective on F5 Networks from $136.00 to $130.00 and set an “equal weight” rating for the company in a research report on Friday, April 28th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company’s stock. F5 Networks presently has a consensus rating of “Hold” and a consensus target price of $131.19.
In other news, Director Alan Higginson sold 2,540 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $120.52, for a total transaction of $306,120.80. Following the sale, the director now directly owns 13,310 shares in the company, valued at approximately $1,604,121.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ryan C. Kearny sold 836 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $120.59, for a total value of $100,813.24. Following the sale, the executive vice president now owns 2,148 shares in the company, valued at $259,027.32. The disclosure for this sale can be found here. Insiders have sold a total of 19,050 shares of company stock worth $2,293,138 over the last 90 days. Insiders own 0.26% of the company’s stock.
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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