Mutual of America Capital Management LLC cut its stake in shares of F5 Networks, Inc. (NASDAQ:FFIV) by 4.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,204 shares of the network technology company’s stock after selling 443 shares during the period. Mutual of America Capital Management LLC’s holdings in F5 Networks were worth $1,297,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in FFIV. Investec Asset Management LTD lifted its stake in F5 Networks by 33.5% in the second quarter. Investec Asset Management LTD now owns 53,012 shares of the network technology company’s stock valued at $6,736,000 after acquiring an additional 13,306 shares during the last quarter. State of Tennessee Treasury Department lifted its stake in F5 Networks by 6.5% in the second quarter. State of Tennessee Treasury Department now owns 144,733 shares of the network technology company’s stock valued at $18,390,000 after acquiring an additional 8,875 shares during the last quarter. Sei Investments Co. lifted its stake in F5 Networks by 2.6% in the second quarter. Sei Investments Co. now owns 9,085 shares of the network technology company’s stock valued at $1,154,000 after acquiring an additional 230 shares during the last quarter. OppenheimerFunds Inc. lifted its stake in F5 Networks by 6.1% in the first quarter. OppenheimerFunds Inc. now owns 1,705 shares of the network technology company’s stock valued at $243,000 after acquiring an additional 98 shares during the last quarter. Finally, Soros Fund Management LLC acquired a new stake in F5 Networks in the first quarter valued at approximately $385,000. 96.50% of the stock is currently owned by hedge funds and other institutional investors.
Shares of F5 Networks, Inc. (FFIV) opened at 119.00 on Friday. The firm has a market capitalization of $7.56 billion, a P/E ratio of 19.76 and a beta of 1.14. The company has a 50 day moving average of $118.01 and a 200-day moving average of $126.88. F5 Networks, Inc. has a 12 month low of $114.45 and a 12 month high of $149.50.
F5 Networks (NASDAQ:FFIV) last posted its quarterly earnings data on Wednesday, July 26th. The network technology company reported $2.03 EPS for the quarter, hitting the Zacks’ consensus estimate of $2.03. The company had revenue of $517.80 million for the quarter, compared to analyst estimates of $525.57 million. F5 Networks had a return on equity of 33.85% and a net margin of 18.96%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.81 earnings per share. Analysts predict that F5 Networks, Inc. will post $8.17 EPS for the current year.
A number of analysts have issued reports on the stock. Robert W. Baird reiterated a “hold” rating and issued a $125.00 target price on shares of F5 Networks in a research note on Wednesday. Piper Jaffray Companies reduced their price objective on shares of F5 Networks to $121.00 and set a “neutral” rating for the company in a research note on Thursday, July 27th. BMO Capital Markets restated an “outperform” rating and issued a $124.00 price objective (down from $132.00) on shares of F5 Networks in a research note on Thursday, July 27th. Deutsche Bank AG restated a “sell” rating and issued a $90.00 price objective (down from $100.00) on shares of F5 Networks in a research note on Tuesday, October 3rd. Finally, Zacks Investment Research upgraded shares of F5 Networks from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $129.71.
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In other news, Director Alan Higginson sold 2,540 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $120.52, for a total transaction of $306,120.80. Following the transaction, the director now directly owns 13,310 shares of the company’s stock, valued at $1,604,121.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Edward Julian Eames sold 4,378 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $120.63, for a total value of $528,118.14. Following the transaction, the chief operating officer now directly owns 35,088 shares in the company, valued at $4,232,665.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,312 shares of company stock worth $2,675,607. 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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