Swiss National Bank lessened its holdings in F5 Networks (NASDAQ:FFIV) by 10.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 240,464 shares of the network technology company’s stock after selling 29,400 shares during the quarter. Swiss National Bank owned approximately 0.39% of F5 Networks worth $34,773,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its holdings in F5 Networks by 14.2% in the first quarter. Victory Capital Management Inc. now owns 18,317 shares of the network technology company’s stock worth $2,649,000 after purchasing an additional 2,284 shares during the period. Virginia Retirement Systems ET AL boosted its holdings in F5 Networks by 173.3% in the first quarter. Virginia Retirement Systems ET AL now owns 147,600 shares of the network technology company’s stock worth $21,344,000 after purchasing an additional 93,600 shares during the period. Bank of Hawaii acquired a new position in F5 Networks in the first quarter worth $410,000. Meeder Asset Management Inc. boosted its holdings in F5 Networks by 217.7% in the first quarter. Meeder Asset Management Inc. now owns 10,547 shares of the network technology company’s stock worth $1,525,000 after purchasing an additional 7,227 shares during the period. Finally, Summit Global Investments boosted its holdings in F5 Networks by 4.6% in the first quarter. Summit Global Investments now owns 12,123 shares of the network technology company’s stock worth $1,753,000 after purchasing an additional 536 shares during the period. 98.34% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have issued reports on FFIV. Credit Suisse Group began coverage on F5 Networks in a research note on Wednesday, May 9th. They issued an “outperform” rating and a $188.00 target price on the stock. DA Davidson cut F5 Networks from a “buy” rating to a “neutral” rating and raised their target price for the company from $172.96 to $181.00 in a research note on Wednesday. They noted that the move was a valuation call. JPMorgan Chase began coverage on F5 Networks in a research note on Thursday, May 3rd. They issued an “overweight” rating on the stock. Nomura cut their target price on F5 Networks to $140.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 18th. Finally, Barclays raised their target price on F5 Networks from $125.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, April 26th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $148.70.
In related news, SVP Ryan C. Kearny sold 862 shares of F5 Networks stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $162.78, for a total transaction of $140,316.36. Following the transaction, the senior vice president now directly owns 4,505 shares of the company’s stock, valued at $733,323.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John Mcadam sold 25,000 shares of F5 Networks stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $143.99, for a total value of $3,599,750.00. Following the transaction, the director now directly owns 56,312 shares in the company, valued at $8,108,364.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,664 shares of company stock worth $13,092,035. Company insiders own 0.26% of the company’s stock.
Shares of F5 Networks opened at $171.04 on Thursday, according to MarketBeat. F5 Networks has a fifty-two week low of $169.69 and a fifty-two week high of $171.74. The stock has a market cap of $10.46 billion, a P/E ratio of 23.91, a P/E/G ratio of 2.47 and a beta of 1.07.
F5 Networks (NASDAQ:FFIV) last issued its quarterly earnings data on Wednesday, April 25th. The network technology company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.04. F5 Networks had a net margin of 20.43% and a return on equity of 37.01%. The business had revenue of $533.30 million for the quarter, compared to analysts’ expectations of $529.95 million. During the same period in the previous year, the business earned $1.95 earnings per share. The company’s revenue was up 2.9% on a year-over-year basis. research analysts predict that F5 Networks will post 7.46 EPS for the current year.
F5 Networks Profile
F5 Networks, Inc develops, markets, and sells application delivery networking products that optimize the security, performance, and availability of network applications, servers, and storage systems. The company's primary application delivery technology is Traffic Management Operating System (TMOS) that enable company's products to intercept, inspect, and act on the contents of traffic from virtually each type of Internet Protocol-enabled application.
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