Bremer Trust National Association lowered its stake in shares of F5 Networks, Inc. (NASDAQ:FFIV) by 6.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,387 shares of the network technology company’s stock after selling 1,456 shares during the period. F5 Networks accounts for 0.8% of Bremer Trust National Association’s investment portfolio, making the stock its 26th largest position. Bremer Trust National Association’s holdings in F5 Networks were worth $2,938,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Investec Asset Management LTD boosted its stake in F5 Networks by 33.5% during the second quarter. Investec Asset Management LTD now owns 53,012 shares of the network technology company’s stock worth $6,736,000 after buying an additional 13,306 shares during the last quarter. Koch Industries Inc. acquired a new position in F5 Networks during the second quarter worth $832,000. Macquarie Group Ltd. lifted its stake in shares of F5 Networks by 21.1% in the 3rd quarter. Macquarie Group Ltd. now owns 6,900 shares of the network technology company’s stock valued at $831,000 after purchasing an additional 1,200 shares during the last quarter. California Public Employees Retirement System lifted its stake in shares of F5 Networks by 3.4% in the 3rd quarter. California Public Employees Retirement System now owns 168,309 shares of the network technology company’s stock valued at $20,291,000 after purchasing an additional 5,509 shares during the last quarter. Finally, Laurion Capital Management LP acquired a new position in shares of F5 Networks in the 2nd quarter valued at $2,115,000. 94.66% of the stock is currently owned by institutional investors.
F5 Networks, Inc. (NASDAQ:FFIV) traded up $2.04 during mid-day trading on Friday, hitting $141.81. The company had a trading volume of 414,789 shares, compared to its average volume of 579,544. The stock has a market cap of $9,010.00, a P/E ratio of 21.78, a PEG ratio of 2.16 and a beta of 1.06. F5 Networks, Inc. has a 52-week low of $114.63 and a 52-week high of $149.50.
F5 Networks (NASDAQ:FFIV) last posted its quarterly earnings data on Wednesday, October 25th. The network technology company reported $2.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.20 by $0.24. The firm 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 quarter in the previous year, the business earned $2.11 EPS. research analysts anticipate that F5 Networks, Inc. will post 6.7 earnings per share for the current fiscal year.
F5 Networks announced that its Board of Directors has authorized a stock buyback program 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 buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
In other F5 Networks news, CFO Andrew Reinland sold 2,241 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $121.03, for a total transaction of $271,228.23. Following the sale, the chief financial officer now owns 15,369 shares in the company, valued at approximately $1,860,110.07. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Edward Julian Eames sold 15,489 shares of the company’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $120.84, for a total value of $1,871,690.76. Following the sale, the chief operating officer now owns 21,587 shares in the company, valued at approximately $2,608,573.08. The disclosure for this sale can be found here. Insiders sold a total of 35,712 shares of company stock worth $4,316,345 in the last quarter. Company insiders own 0.26% of the company’s stock.
Several brokerages have recently commented on FFIV. Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $146.00 price target on shares of F5 Networks in a research note on Wednesday. Zacks Investment Research raised F5 Networks from a “hold” rating to a “buy” rating and set a $154.00 price target on the stock in a research note on Wednesday. Deutsche Bank reaffirmed a “sell” rating and issued a $90.00 price target (down previously from $100.00) on shares of F5 Networks in a research note on Tuesday, October 3rd. Robert W. Baird reaffirmed a “hold” rating and issued a $120.00 price target on shares of F5 Networks in a research note on Thursday, October 26th. Finally, Drexel Hamilton reaffirmed a “buy” rating and issued a $160.00 price target on shares of F5 Networks in a research note on Monday, October 23rd. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company. F5 Networks presently has a consensus rating of “Hold” and a consensus price target of $130.61.
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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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