Commerzbank Aktiengesellschaft FI lowered its stake in shares of F5 Networks, Inc. (NASDAQ:FFIV) by 10.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,737 shares of the network technology company’s stock after selling 2,311 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in F5 Networks were worth $2,500,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in F5 Networks by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 6,416,690 shares of the network technology company’s stock worth $815,305,000 after buying an additional 16,411 shares during the last quarter. Renaissance Technologies LLC boosted its stake in F5 Networks by 5.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,740,209 shares of the network technology company’s stock worth $221,111,000 after buying an additional 95,035 shares during the last quarter. Epoch Investment Partners Inc. boosted its stake in F5 Networks by 9.3% in the 2nd quarter. Epoch Investment Partners Inc. now owns 1,450,142 shares of the network technology company’s stock worth $184,254,000 after buying an additional 123,489 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in F5 Networks by 1.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,410,973 shares of the network technology company’s stock worth $170,107,000 after buying an additional 26,260 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. boosted its stake in F5 Networks by 24.4% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 1,401,720 shares of the network technology company’s stock worth $168,991,000 after buying an additional 274,997 shares during the last quarter. 95.19% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have issued reports on FFIV. Deutsche Bank reissued a “sell” rating and issued a $90.00 price target (down from $100.00) on shares of F5 Networks in a research note on Tuesday, October 3rd. Robert W. Baird reissued a “hold” rating and issued a $120.00 price target on shares of F5 Networks in a research note on Thursday, October 26th. Cowen reissued a “buy” rating and issued a $140.00 price target on shares of F5 Networks in a research note on Friday, October 27th. BMO Capital Markets decreased their price target on F5 Networks from $124.00 to $122.00 and set a “market perform” rating on the stock in a research note on Thursday, October 26th. Finally, Needham & Company LLC reissued a “hold” rating on shares of F5 Networks in a research note on Tuesday, September 12th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $125.94.
F5 Networks, Inc. (NASDAQ FFIV) opened at $132.60 on Wednesday. The company has a market capitalization of $8,295.52, a PE ratio of 20.48, a PEG ratio of 2.11 and a beta of 1.06. F5 Networks, Inc. has a twelve month low of $114.63 and a twelve month high of $149.50.
F5 Networks (NASDAQ:FFIV) last released its quarterly earnings data on Wednesday, October 25th. The network technology company reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.24. The company had revenue of $538.00 million for the quarter, compared to the consensus estimate of $534.71 million. F5 Networks had a return on equity of 34.70% and a net margin of 20.13%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business posted $2.11 EPS. analysts forecast that F5 Networks, Inc. will post 6.7 EPS for the current year.
F5 Networks announced that its Board of Directors has approved a stock repurchase plan on Wednesday, October 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the network technology company to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
In other news, EVP Edward Julian Eames sold 15,336 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $121.06, for a total value of $1,856,576.16. Following the transaction, the executive vice president now directly owns 43,824 shares in the company, valued at approximately $5,305,333.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Benjamin Gibson sold 932 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $119.52, for a total value of $111,392.64. Following the completion of the transaction, the chief marketing officer now owns 1,651 shares in the company, valued at $197,327.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,712 shares of company stock worth $4,316,345. Company insiders own 0.26% of the company’s stock.
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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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