Addenda Capital Inc. lessened its stake in F5 Networks, Inc. (NASDAQ:FFIV) by 6.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,243 shares of the network technology company’s stock after selling 2,721 shares during the period. Addenda Capital Inc. owned 0.06% of F5 Networks worth $5,279,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of FFIV. Vanguard Group Inc. raised its position in shares of F5 Networks by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 6,416,690 shares of the network technology company’s stock valued at $815,305,000 after acquiring an additional 16,411 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of F5 Networks by 5.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,740,209 shares of the network technology company’s stock valued at $221,111,000 after acquiring an additional 95,035 shares during the last quarter. Epoch Investment Partners Inc. raised its position in shares of F5 Networks by 9.3% during the 2nd quarter. Epoch Investment Partners Inc. now owns 1,450,142 shares of the network technology company’s stock valued at $184,254,000 after acquiring an additional 123,489 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of F5 Networks by 1.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,410,973 shares of the network technology company’s stock valued at $170,107,000 after acquiring an additional 26,260 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. raised its position in shares of F5 Networks by 24.4% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 1,401,720 shares of the network technology company’s stock valued at $168,991,000 after acquiring an additional 274,997 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.
In related news, COO Edward Julian Eames sold 15,489 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $120.84, for a total value of $1,871,690.76. Following the completion of the transaction, the chief operating officer now directly owns 21,587 shares of the company’s stock, valued at approximately $2,608,573.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.26% of the stock is currently owned by corporate insiders.
Shares of F5 Networks, Inc. (FFIV) traded down $0.90 during midday trading on Friday, reaching $144.13. 1,219,689 shares of the company were exchanged, compared to its average volume of 852,067. The firm has a market cap of $8,913.58, a price-to-earnings ratio of 22.17, a PEG ratio of 2.20 and a beta of 1.08. F5 Networks, Inc. has a 12-month low of $114.63 and a 12-month high of $149.50.
F5 Networks (NASDAQ:FFIV) last announced its earnings results on Wednesday, January 24th. The network technology company reported $2.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.05 by $0.21. The firm had revenue of $523.20 million during the quarter, compared to analyst estimates of $521.07 million. F5 Networks had a net margin of 19.79% and a return on equity of 35.98%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.98 EPS. research analysts anticipate that F5 Networks, Inc. will post 7.23 earnings per share for the current year.
F5 Networks declared that its board has approved a share buyback program on Wednesday, October 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the network technology company to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
Several analysts have commented on the stock. Piper Jaffray Companies reiterated a “neutral” rating and set a $146.00 target price on shares of F5 Networks in a research report on Wednesday, January 10th. Zacks Investment Research upgraded shares of F5 Networks from a “hold” rating to a “buy” rating and set a $154.00 target price for the company in a research report on Wednesday, January 10th. DA Davidson set a $155.00 target price on shares of F5 Networks and gave the company a “buy” rating in a research report on Wednesday, January 17th. Deutsche Bank reiterated a “sell” rating on shares of F5 Networks in a research report on Friday, January 5th. Finally, Jefferies Group reiterated a “hold” rating on shares of F5 Networks in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. F5 Networks currently has an average rating of “Hold” and a consensus price target of $140.05.
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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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