Hendershot Investments Inc. increased its stake in F5 Networks Inc. (NASDAQ:FFIV) by 3.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,129 shares of the network technology company’s stock after buying an additional 525 shares during the period. Hendershot Investments Inc.’s holdings in F5 Networks were worth $1,608,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. Bank of Montreal Can acquired a new position in F5 Networks during the second quarter valued at $118,505,000. Norges Bank acquired a new position in F5 Networks during the fourth quarter valued at $60,124,000. State Street Corp increased its position in 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 last quarter. Panagora Asset Management Inc. increased its position in F5 Networks by 75.4% in the first quarter. Panagora Asset Management Inc. now owns 668,952 shares of the network technology company’s stock valued at $70,809,000 after buying an additional 287,664 shares during the last quarter. Finally, Swedbank increased its position in 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 during the last quarter. Institutional investors own 94.78% of the company’s stock.
F5 Networks Inc. (NASDAQ:FFIV) traded down 0.63% during mid-day trading on Friday, hitting $120.49. 313,923 shares of the stock traded hands. The company has a 50 day moving average of $122.58 and a 200-day moving average of $112.50. F5 Networks Inc. has a 12-month low of $86.03 and a 12-month high of $127.13. The stock has a market cap of $7.98 billion, a PE ratio of 23.55 and a beta of 1.94.
F5 Networks (NASDAQ:FFIV) last posted its quarterly earnings data on Wednesday, July 20th. The network technology company reported $1.81 EPS for the quarter, beating the Thomson Reuters’ 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 last year, the firm posted $1.67 earnings per share. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities research analysts forecast that F5 Networks Inc. will post $7.14 earnings per share for the current year.
FFIV has been the topic of several recent research reports. TheStreet upgraded shares of F5 Networks to a “buy” rating in a research report on Thursday, May 26th. Pacific Crest downgraded shares of F5 Networks to an “overweight” rating in a research report on Thursday, May 26th. They noted that the move was a valuation call. BMO Capital Markets restated a “market perform” rating and set a $125.00 price objective (up from $104.00) on shares of F5 Networks in a research report on Friday, July 22nd. Robert W. Baird restated a “neutral” rating and set a $110.00 price objective on shares of F5 Networks in a research report on Thursday, June 9th. Finally, 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. 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 issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $116.01.
In other news, insider John Mcadam sold 7,169 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $126.11, for a total value of $904,082.59. Following the completion of the transaction, the insider now owns 33,682 shares of the company’s stock, valued at $4,247,637.02. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Deborah L. Bevier sold 6,229 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $123.60, for a total transaction of $769,904.40. Following the completion of the transaction, the director now directly owns 5,412 shares of the company’s stock, valued at approximately $668,923.20. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by 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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