Alps Advisors Inc. lowered its position in F5 Networks Inc. (NASDAQ:FFIV) by 6.9% during the second quarter, Holdings Channel reports. The fund owned 4,014 shares of the network technology company’s stock after selling 296 shares during the period. Alps Advisors Inc.’s holdings in F5 Networks were worth $457,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Hendershot Investments Inc. boosted its stake in F5 Networks by 3.9% in the second quarter. Hendershot Investments Inc. now owns 14,129 shares of the network technology company’s stock worth $1,608,000 after buying an additional 525 shares during the last quarter. Artemis Investment Management LLP bought a new stake in F5 Networks during the second quarter worth $3,837,000. Conning Inc. bought a new stake in F5 Networks during the second quarter worth $207,000. PGGM Investments boosted its stake in F5 Networks by 25.8% in the second quarter. PGGM Investments now owns 287,717 shares of the network technology company’s stock worth $32,754,000 after buying an additional 59,093 shares during the last quarter. Finally, JFS Wealth Advisors LLC bought a new stake in F5 Networks during the second quarter worth $137,000. 94.78% of the stock is currently owned by institutional investors.
Shares of F5 Networks Inc. (NASDAQ:FFIV) traded up 0.61% during midday trading on Wednesday, reaching $125.50. The company’s stock had a trading volume of 448,426 shares. The stock has a 50 day moving average price of $122.10 and a 200-day moving average price of $114.09. The company has a market capitalization of $8.31 billion, a price-to-earnings ratio of 24.53 and a beta of 1.96. F5 Networks Inc. has a 52-week low of $86.03 and a 52-week high of $127.13.
F5 Networks (NASDAQ:FFIV) last announced its quarterly earnings data on Wednesday, July 20th. The network technology company reported $1.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.79 by $0.02. F5 Networks had a return on equity of 29.95% and a net margin of 17.96%. The company had revenue of $496.50 million for the quarter, compared to analyst estimates of $495.48 million. During the same quarter last year, the firm earned $1.67 EPS. F5 Networks’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities research analysts expect that F5 Networks Inc. will post $7.14 EPS for the current year.
A number of analysts have weighed in on the stock. Oppenheimer Holdings Inc. raised shares of F5 Networks from a “market perform” rating to an “outperform” rating and set a $140.00 price objective on the stock in a report on Wednesday, September 14th. DA Davidson lifted their target price on shares of F5 Networks from $125.34 to $145.00 and gave the company a “buy” rating in a report on Friday, August 12th. Zacks Investment Research cut shares of F5 Networks from a “buy” rating to a “hold” rating in a report on Monday, August 8th. Drexel Hamilton reaffirmed a “buy” rating and issued a $155.00 target price (up from $145.00) on shares of F5 Networks in a report on Sunday, July 24th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $110.00 target price (up from $100.00) on shares of F5 Networks in a report on Sunday, July 24th. Two equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. F5 Networks has an average rating of “Hold” and an average target price of $116.01.
In related news, CFO Andrew Reinland sold 5,674 shares of the business’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $122.94, for a total value of $697,561.56. Following the sale, the chief financial officer now owns 16,935 shares of the company’s stock, valued at approximately $2,081,988.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Scot Frazier Rogers sold 1,607 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $122.92, for a total value of $197,532.44. Following the completion of the sale, the executive vice president now directly owns 6,653 shares in the company, valued at approximately $817,786.76. The disclosure for this sale can be found here. 0.28% of the stock is owned by corporate insiders.
About F5 Networks
F5 Networks, Inc is the developer and provider of application delivery services. The Company’s core technology is a full-proxy, programmable, software platform called TMOS (Traffic Management Operating System). It helps organizations seamlessly scale cloud, data center, and software-defined networking deployments to successfully deliver applications to anyone, anywhere, at any time.
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