American Research & Management Co. reduced its stake in shares of F5 Networks Inc. (NASDAQ:FFIV) by 1.3% during the second quarter, Holdings Channel reports. The fund owned 18,430 shares of the network technology company’s stock after selling 250 shares during the period. American Research & Management Co.’s holdings in F5 Networks were worth $2,098,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the stock. JFS Wealth Advisors LLC bought a new stake in F5 Networks during the second quarter valued at $137,000. Invictus RG boosted its stake in F5 Networks by 620.0% in the first quarter. Invictus RG now owns 1,440 shares of the network technology company’s stock valued at $152,000 after buying an additional 1,240 shares during the last quarter. Huntington National Bank boosted its stake in F5 Networks by 4.8% in the second quarter. Huntington National Bank now owns 1,455 shares of the network technology company’s stock valued at $166,000 after buying an additional 67 shares during the last quarter. Conning Inc. bought a new stake in F5 Networks during the second quarter valued at $207,000. Finally, Ferguson Wellman Capital Management Inc. bought a new stake in F5 Networks during the second quarter valued at $228,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.
F5 Networks Inc. (NASDAQ:FFIV) traded up 1.0826% during midday trading on Tuesday, reaching $117.6601. 425,700 shares of the company traded hands. The firm has a market capitalization of $7.79 billion, a price-to-earnings ratio of 22.9985 and a beta of 1.96. F5 Networks Inc. has a one year low of $86.03 and a one year high of $127.13. The firm has a 50-day moving average price of $121.19 and a 200-day moving average price of $115.01.
FFIV has been the subject of several research reports. Zacks Investment Research upgraded shares of F5 Networks from a “hold” rating to a “buy” rating and set a $135.00 price objective for the company in a research report on Tuesday, July 19th. Wunderlich raised their price objective on shares of F5 Networks from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, July 21st. Wells Fargo & Co. started coverage on shares of F5 Networks in a research report on Monday, June 27th. They set a “buy” rating for the company. Drexel Hamilton reiterated a “buy” rating and set a $155.00 price target (up previously from $145.00) on shares of F5 Networks in a research report on Sunday, July 24th. Finally, DA Davidson lifted their price target on shares of F5 Networks from $125.34 to $145.00 and gave the stock a “buy” rating in a research report on Friday, August 12th. Two equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $116.01.
In other F5 Networks news, EVP Scot Frazier Rogers sold 1,607 shares of F5 Networks stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $122.92, for a total transaction of $197,532.44. Following the completion of the transaction, the executive vice president now owns 6,653 shares of the company’s stock, valued at approximately $817,786.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew Reinland sold 5,674 shares of F5 Networks stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $122.94, for a total value of $697,561.56. Following the transaction, the chief financial officer now directly owns 16,935 shares of the company’s stock, valued at approximately $2,081,988.90. 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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