USA Financial Portformulas Corp purchased a new stake in F5 Networks, Inc. (NASDAQ:FFIV) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,464 shares of the network technology company’s stock, valued at approximately $694,000.
Several other institutional investors have also recently modified their holdings of the company. Acrospire Investment Management LLC increased its position in shares of F5 Networks by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 800 shares of the network technology company’s stock valued at $102,000 after acquiring an additional 400 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in F5 Networks by 23.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 860 shares of the network technology company’s stock worth $110,000 after buying an additional 161 shares during the last quarter. IFP Advisors Inc increased its position in F5 Networks by 65.6% during the second quarter. IFP Advisors Inc now owns 959 shares of the network technology company’s stock worth $122,000 after buying an additional 380 shares during the last quarter. American Beacon Advisors Inc. acquired a new position in F5 Networks during the first quarter worth approximately $153,000. Finally, Bronfman E.L. Rothschild L.P. increased its position in F5 Networks by 1.5% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,397 shares of the network technology company’s stock worth $178,000 after buying an additional 21 shares during the last quarter. Institutional investors own 96.21% of the company’s stock.
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A number of equities analysts have weighed in on the company. Deutsche Bank AG reissued a “sell” rating and set a $90.00 price target (down previously from $100.00) on shares of F5 Networks in a research report on Tuesday, October 3rd. Robert W. Baird reaffirmed a “hold” rating and issued a $120.00 target price on shares of F5 Networks in a research report on Thursday. Piper Jaffray Companies downgraded F5 Networks from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $144.00 to $136.00 in a research report on Friday, July 14th. Cowen and Company reaffirmed a “buy” rating and issued a $140.00 target price on shares of F5 Networks in a research report on Friday. Finally, Zacks Investment Research cut F5 Networks from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $126.76.
In related news, EVP Ryan C. Kearny sold 836 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $120.59, for a total value of $100,813.24. Following the sale, the executive vice president now owns 2,148 shares of the company’s stock, valued at $259,027.32. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Edward Julian Eames sold 4,378 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $120.63, for a total transaction of $528,118.14. Following the completion of the sale, the chief operating officer now directly owns 35,088 shares in the company, valued at approximately $4,232,665.44. The disclosure for this sale can be found here. Insiders sold 22,312 shares of company stock worth $2,675,607 in the last ninety days. 0.26% of the stock is currently owned by corporate insiders.
F5 Networks, Inc. (FFIV) traded down 2.67% during trading on Friday, reaching $120.74. 429,558 shares of the company traded hands. The firm has a 50-day moving average price of $117.91 and a 200-day moving average price of $124.37. F5 Networks, Inc. has a 52 week low of $114.63 and a 52 week high of $149.50. The company has a market capitalization of $7.67 billion, a P/E ratio of 20.05 and a beta of 1.14.
F5 Networks (NASDAQ:FFIV) last announced its quarterly earnings data on Wednesday, October 25th. The network technology company reported $2.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.20 by $0.24. F5 Networks had a net margin of 20.13% and a return on equity of 34.95%. The firm had revenue of $538.00 million during the quarter, compared to analyst estimates of $534.71 million. During the same quarter in the prior year, the firm posted $2.11 earnings per share. F5 Networks’s quarterly revenue was up 2.4% on a year-over-year basis. Analysts forecast that F5 Networks, Inc. will post $8.84 earnings per share for the current fiscal year.
F5 Networks declared that its Board of Directors has approved a stock buyback plan on Wednesday, October 25th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the network technology company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.
F5 Networks 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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