Bremer Trust National Association reduced its position in shares of F5 Networks, Inc. (NASDAQ:FFIV) by 6.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,387 shares of the network technology company’s stock after selling 1,456 shares during the period. F5 Networks comprises 0.8% of Bremer Trust National Association’s portfolio, making the stock its 26th largest position. Bremer Trust National Association’s holdings in F5 Networks were worth $2,938,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of FFIV. Pacer Advisors Inc. grew its position in shares of F5 Networks by 12.3% during the second quarter. Pacer Advisors Inc. now owns 2,079 shares of the network technology company’s stock worth $264,000 after acquiring an additional 228 shares during the last quarter. Neuberger Berman Group LLC bought a new position in F5 Networks in the 2nd quarter valued at about $269,000. Schroder Investment Management Group grew its position in F5 Networks by 157.1% in the 2nd quarter. Schroder Investment Management Group now owns 92,704 shares of the network technology company’s stock valued at $11,803,000 after buying an additional 56,651 shares in the last quarter. CIBC World Markets Inc. bought a new position in F5 Networks in the 2nd quarter valued at about $1,058,000. Finally, Franklin Resources Inc. grew its position in F5 Networks by 9.4% in the 2nd quarter. Franklin Resources Inc. now owns 22,740 shares of the network technology company’s stock valued at $2,889,000 after buying an additional 1,962 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.
FFIV has been the subject of several research reports. Morgan Stanley raised their price objective on shares of F5 Networks from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. Robert W. Baird reaffirmed a “hold” rating and set a $145.00 price objective on shares of F5 Networks in a research note on Thursday, January 25th. Royal Bank of Canada reaffirmed a “hold” rating and set a $129.00 price objective on shares of F5 Networks in a research note on Tuesday, October 10th. Drexel Hamilton reaffirmed a “buy” rating and set a $160.00 price objective on shares of F5 Networks in a research note on Monday, October 23rd. Finally, DA Davidson set a $155.00 price target on shares of F5 Networks and gave the stock a “buy” rating in a research report on Wednesday, January 17th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $140.05.
In related news, COO Edward Julian Eames sold 15,489 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief operating officer now directly owns 21,587 shares of the company’s stock, valued at $2,608,573.08. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by company insiders.
Shares of F5 Networks, Inc. (FFIV) opened at $144.13 on Friday. The stock has a market cap of $8,913.58, a price-to-earnings ratio of 21.13, a PEG ratio of 2.20 and a beta of 1.08. 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 earnings results on Wednesday, January 24th. The network technology company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.05 by $0.21. The firm had revenue of $523.20 million during the quarter, compared to analysts’ expectations of $521.07 million. F5 Networks had a return on equity of 35.98% and a net margin of 19.79%. F5 Networks’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the business earned $1.98 earnings per share. equities research analysts forecast that F5 Networks, Inc. will post 7.23 earnings per share for the current fiscal year.
F5 Networks declared that its Board of Directors has initiated a share buyback plan on Wednesday, October 25th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the network technology company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
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About F5 Networks
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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