Vanguard Group Inc. reduced its position in F5 Networks Inc. (NASDAQ:FFIV) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,161,707 shares of the network technology company’s stock after selling 5,192 shares during the period. Vanguard Group Inc. owned 9.31% of F5 Networks worth $701,448,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in FFIV. State Street Corp increased its position in shares of F5 Networks by 11.9% in the first quarter. State Street Corp now owns 3,389,202 shares of the network technology company’s stock valued at $358,752,000 after buying an additional 359,112 shares during the period. Swedbank boosted its position in shares of F5 Networks by 6.5% in the second quarter. Swedbank now owns 2,676,975 shares of the network technology company’s stock valued at $304,747,000 after buying an additional 163,523 shares in the last quarter. First Eagle Investment Management LLC boosted its position in shares of F5 Networks by 0.3% in the second quarter. First Eagle Investment Management LLC now owns 1,531,980 shares of the network technology company’s stock valued at $174,401,000 after buying an additional 5,151 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of F5 Networks by 5.3% in the first quarter. Renaissance Technologies LLC now owns 1,087,274 shares of the network technology company’s stock valued at $115,088,000 after buying an additional 55,200 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in shares of F5 Networks during the second quarter valued at about $118,505,000. 94.78% of the stock is currently owned by institutional investors and hedge funds.
Shares of F5 Networks Inc. (NASDAQ:FFIV) traded up 0.07% during midday trading on Thursday, reaching $124.12. 61,077 shares of the company were exchanged. F5 Networks Inc. has a 52 week low of $86.03 and a 52 week high of $127.13. The firm has a 50-day moving average of $122.14 and a 200 day moving average of $113.22. The firm has a market capitalization of $8.22 billion, a P/E ratio of 24.26 and a beta of 1.94.
F5 Networks (NASDAQ:FFIV) last released its earnings results on Wednesday, July 20th. The network technology company reported $1.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.79 by $0.02. F5 Networks had a net margin of 17.96% and a return on equity of 29.95%. The business earned $496.50 million during the quarter, compared to analyst estimates of $495.48 million. During the same quarter in the prior year, the firm earned $1.67 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities research analysts expect that F5 Networks Inc. will post $7.14 EPS for the current year.
Several equities analysts recently issued reports on FFIV shares. Wunderlich boosted their price target 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. Credit Suisse Group AG reiterated a “buy” rating on shares of F5 Networks in a research report on Wednesday, June 8th. Wells Fargo & Co. started coverage on shares of F5 Networks in a research report on Monday, June 27th. They set a “buy” rating on the stock. Zacks Investment Research upgraded shares of F5 Networks from a “hold” rating to a “buy” rating and set a $135.00 price target on the stock in a research report on Tuesday, July 19th. Finally, 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. Two research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $116.01.
In related news, EVP Scot Frazier Rogers sold 1,607 shares of the company’s stock in a transaction dated 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 owns 6,653 shares of the company’s stock, valued at $817,786.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Mcadam sold 7,169 shares of the company’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $126.11, for a total transaction of $904,082.59. Following the completion of the sale, the insider now directly owns 33,682 shares of the company’s stock, valued at approximately $4,247,637.02. The disclosure for this sale can be found here. Insiders own 0.28% of the company’s stock.
F5 Networks Company Profile
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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