NorthCoast Asset Management LLC raised its position in shares of F5 Networks, Inc. (NASDAQ:FFIV) by 47.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,201 shares of the network technology company’s stock after acquiring an additional 48,060 shares during the period. F5 Networks makes up approximately 2.2% of NorthCoast Asset Management LLC’s holdings, making the stock its 18th biggest holding. NorthCoast Asset Management LLC owned approximately 0.24% of F5 Networks worth $19,085,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. raised its holdings in F5 Networks by 0.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 2,071 shares of the network technology company’s stock valued at $295,000 after buying an additional 9 shares during the period. Contravisory Investment Management Inc. grew its position in F5 Networks by 0.8% in the 2nd quarter. Contravisory Investment Management Inc. now owns 1,846 shares of the network technology company’s stock valued at $235,000 after acquiring an additional 14 shares during the last quarter. Concert Wealth Management Inc. grew its position in F5 Networks by 0.8% in the 1st quarter. Concert Wealth Management Inc. now owns 1,867 shares of the network technology company’s stock valued at $267,000 after acquiring an additional 15 shares during the last quarter. Bronfman E.L. Rothschild L.P. grew its position in F5 Networks by 1.5% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,397 shares of the network technology company’s stock valued at $178,000 after acquiring an additional 21 shares during the last quarter. Finally, Intrust Bank NA grew its position in F5 Networks by 1.1% in the 2nd quarter. Intrust Bank NA now owns 4,590 shares of the network technology company’s stock valued at $584,000 after acquiring an additional 50 shares during the last quarter. Institutional investors own 96.45% of the company’s stock.
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FFIV has been the topic of several research analyst reports. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $132.00 price objective on shares of F5 Networks in a research report on Monday, May 29th. Cowen and Company reissued an “outperform” rating and set a $145.00 price target on shares of F5 Networks in a research report on Monday, June 5th. Jefferies Group LLC reissued a “hold” rating and set a $130.00 price target on shares of F5 Networks in a research report on Friday, June 16th. Piper Jaffray Companies downgraded F5 Networks from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $144.00 to $136.00 in a research report on Friday, July 14th. Finally, Drexel Hamilton reaffirmed a “buy” rating and set a $160.00 price objective on shares of F5 Networks in a research report on Friday, July 21st. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. F5 Networks currently has a consensus rating of “Hold” and an average target price of $130.81.
Shares of F5 Networks, Inc. (FFIV) traded down 0.25% during mid-day trading on Friday, hitting $116.62. The stock had a trading volume of 1,184,030 shares. The company has a market cap of $7.41 billion, a PE ratio of 19.37 and a beta of 1.16. F5 Networks, Inc. has a 52-week low of $114.45 and a 52-week high of $149.50. The stock has a 50 day moving average price of $117.99 and a 200-day moving average price of $129.63.
F5 Networks (NASDAQ:FFIV) last posted its quarterly earnings results on Wednesday, July 26th. The network technology company reported $2.03 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $2.03. F5 Networks had a return on equity of 33.85% and a net margin of 18.96%. The company had revenue of $517.80 million for the quarter, compared to analysts’ expectations of $525.57 million. During the same quarter in the prior year, the company earned $1.81 earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. On average, equities analysts expect that F5 Networks, Inc. will post $8.17 earnings per share for the current fiscal year.
In other news, CEO Francois Locoh-Donou sold 2,029 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $119.61, for a total transaction of $242,688.69. Following the transaction, the chief executive officer now directly owns 2,636 shares in the company, valued at approximately $315,291.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John D. Dilullo sold 3,052 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $120.55, for a total transaction of $367,918.60. Following the transaction, the executive vice president now owns 7,255 shares in the company, valued at $874,590.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,312 shares of company stock worth $2,675,607. Corporate insiders own 0.26% of the company’s stock.
About F5 Networks
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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