Keybank National Association OH cut its holdings in F5 Networks, Inc. (NASDAQ:FFIV) by 12.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,281 shares of the network technology company’s stock after selling 900 shares during the period. Keybank National Association OH’s holdings in F5 Networks were worth $757,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Investec Asset Management LTD boosted its holdings in F5 Networks by 33.5% in the second quarter. Investec Asset Management LTD now owns 53,012 shares of the network technology company’s stock worth $6,736,000 after purchasing an additional 13,306 shares in the last quarter. State of Tennessee Treasury Department boosted its holdings in F5 Networks by 6.5% in the second quarter. State of Tennessee Treasury Department now owns 144,733 shares of the network technology company’s stock worth $18,390,000 after purchasing an additional 8,875 shares in the last quarter. Sei Investments Co. boosted its holdings in F5 Networks by 2.6% in the second quarter. Sei Investments Co. now owns 9,085 shares of the network technology company’s stock worth $1,154,000 after purchasing an additional 230 shares in the last quarter. Koch Industries Inc. bought a new stake in F5 Networks in the second quarter worth $832,000. Finally, OppenheimerFunds Inc. boosted its holdings in F5 Networks by 6.1% in the first quarter. OppenheimerFunds Inc. now owns 1,705 shares of the network technology company’s stock worth $243,000 after purchasing an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 98.52% of the company’s stock.
In other F5 Networks news, CEO Francois Locoh-Donou sold 1,714 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $119.87, for a total transaction of $205,457.18. Following the sale, the chief executive officer now directly owns 2,119 shares of the company’s stock, valued at $254,004.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Benjamin Gibson sold 932 shares of the company’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $119.52, for a total transaction of $111,392.64. Following the sale, the chief marketing officer now directly owns 1,651 shares in the company, valued at $197,327.52. The disclosure for this sale can be found here. Insiders have sold 38,974 shares of company stock worth $4,698,814 over the last ninety days. Insiders own 0.26% of the company’s stock.
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A number of equities research analysts recently issued reports on FFIV shares. Zacks Investment Research cut shares of F5 Networks from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Drexel Hamilton reiterated a “buy” rating and issued a $160.00 price objective on shares of F5 Networks in a report on Monday, October 23rd. Morgan Stanley decreased their price target on shares of F5 Networks from $130.00 to $120.00 and set an “equal weight” rating for the company in a report on Monday, October 9th. Nomura decreased their price target on shares of F5 Networks from $120.00 to $115.00 and set a “neutral” rating for the company in a report on Monday, October 16th. Finally, Standpoint Research started coverage on shares of F5 Networks in a report on Monday, October 2nd. They set an “accumulate” rating and a $160.00 price target for the company. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $126.76.
Shares of F5 Networks, Inc. (NASDAQ FFIV) opened at $119.79 on Thursday. The firm has a market cap of $7,587.59, a PE ratio of 18.74, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01. F5 Networks, Inc. has a 52 week low of $114.63 and a 52 week high of $149.50.
F5 Networks (NASDAQ:FFIV) last issued its quarterly earnings data on Wednesday, October 25th. The network technology company reported $2.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.20 by $0.24. The firm had revenue of $538.00 million for the quarter, compared to analysts’ expectations of $534.71 million. F5 Networks had a net margin of 20.13% and a return on equity of 34.70%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.11 earnings per share. equities analysts predict that F5 Networks, Inc. will post 6.7 EPS for the current fiscal year.
F5 Networks announced that its Board of Directors has authorized a stock buyback program on Wednesday, October 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the network technology company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
F5 Networks Company Profile
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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