F5 Networks, Inc. (NASDAQ:FFIV) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN grew its position in shares of F5 Networks, Inc. (NASDAQ:FFIV) by 3.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 238,528 shares of the network technology company’s stock after acquiring an additional 7,121 shares during the quarter. Wells Fargo & Company MN’s holdings in F5 Networks were worth $37,432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pictet Asset Management Ltd. increased its stake in F5 Networks by 82.4% in the 1st quarter. Pictet Asset Management Ltd. now owns 97,553 shares of the network technology company’s stock worth $15,309,000 after buying an additional 44,077 shares in the last quarter. CIBC World Markets Inc. increased its stake in F5 Networks by 2.6% in the 1st quarter. CIBC World Markets Inc. now owns 10,347 shares of the network technology company’s stock worth $1,624,000 after buying an additional 266 shares in the last quarter. Bremer Bank National Association purchased a new stake in F5 Networks in the 1st quarter worth $1,340,000. Advisor Group Inc. increased its stake in F5 Networks by 1.6% in the 1st quarter. Advisor Group Inc. now owns 10,714 shares of the network technology company’s stock worth $1,681,000 after buying an additional 168 shares in the last quarter. Finally, BlackRock Inc. increased its stake in F5 Networks by 1.4% in the 1st quarter. BlackRock Inc. now owns 5,448,618 shares of the network technology company’s stock worth $855,052,000 after buying an additional 74,802 shares in the last quarter. 97.15% of the stock is currently owned by hedge funds and other institutional investors.

Shares of F5 Networks stock traded down $9.28 during trading on Friday, reaching $135.85. 577,752 shares of the stock traded hands, compared to its average volume of 652,995. The firm has a market cap of $8.52 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 1.98 and a beta of 1.01. F5 Networks, Inc. has a 52-week low of $131.53 and a 52-week high of $199.71.

F5 Networks (NASDAQ:FFIV) last issued its quarterly earnings data on Wednesday, April 24th. The network technology company reported $2.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.01. The firm had revenue of $544.90 million during the quarter, compared to analyst estimates of $547.03 million. F5 Networks had a return on equity of 39.13% and a net margin of 22.91%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.31 earnings per share. Sell-side analysts forecast that F5 Networks, Inc. will post 8.59 earnings per share for the current fiscal year.

In related news, EVP Thomas Dean Fountain sold 188 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $143.61, for a total value of $26,998.68. Following the completion of the transaction, the executive vice president now owns 1,729 shares of the company’s stock, valued at approximately $248,301.69. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Ryan C. Kearny sold 3,825 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $153.99, for a total transaction of $589,011.75. Following the completion of the transaction, the senior vice president now directly owns 10,978 shares of the company’s stock, valued at approximately $1,690,502.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,168 shares of company stock valued at $1,546,472. 0.22% of the stock is owned by insiders.

A number of research analysts have recently weighed in on FFIV shares. BidaskClub upgraded F5 Networks from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Zacks Investment Research lowered F5 Networks from a “hold” rating to a “sell” rating in a research report on Tuesday, April 9th. ValuEngine lowered F5 Networks from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. Piper Jaffray Companies upgraded F5 Networks from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $157.00 to $163.00 in a research report on Friday, March 29th. Finally, Nomura upgraded F5 Networks from a “neutral” rating to a “buy” rating and raised their price objective for the company from $155.00 to $180.00 in a research report on Monday, April 1st. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $172.13.

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About F5 Networks

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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Institutional Ownership by Quarter for F5 Networks (NASDAQ:FFIV)

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