Goldman Sachs Group cut shares of F5 Networks (NASDAQ:FFIV) from a neutral rating to a sell rating in a research note issued to investors on Monday morning, Benzinga reports. Goldman Sachs Group currently has $120.00 price objective on the network technology company’s stock, down from their previous price objective of $165.00.
Other analysts have also issued research reports about the company. BidaskClub raised Zynerba Pharmaceuticals from a hold rating to a buy rating in a report on Thursday, June 20th. Deutsche Bank cut their price objective on F5 Networks from $115.00 to $110.00 and set a sell rating for the company in a report on Tuesday, March 12th. William Blair reaffirmed an outperform rating on shares of Kezar Life Sciences in a report on Tuesday, March 12th. Piper Jaffray Companies raised F5 Networks from an underweight rating to a neutral rating and lifted their price objective for the stock from $157.00 to $163.00 in a report on Friday, March 29th. Finally, Nomura raised F5 Networks from a neutral rating to a buy rating and lifted their price objective for the stock from $155.00 to $180.00 in a report on Monday, April 1st. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $167.68.
Shares of F5 Networks stock traded up $1.19 on Monday, reaching $142.76. The company’s stock had a trading volume of 584,756 shares, compared to its average volume of 687,936. The company has a market cap of $8.60 billion, a P/E ratio of 17.85, a price-to-earnings-growth ratio of 2.05 and a beta of 1.04. The company’s fifty day moving average price is $140.83. F5 Networks 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 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.01. F5 Networks had a return on equity of 39.13% and a net margin of 22.91%. The company had revenue of $544.90 million during the quarter, compared to analyst estimates of $547.03 million. During the same quarter in the previous year, the company posted $2.31 earnings per share. F5 Networks’s revenue was up 2.2% compared to the same quarter last year. On average, equities analysts predict that F5 Networks will post 8.59 earnings per share for the current fiscal year.
In related news, CEO Francois Locoh-Donou sold 4,001 shares of F5 Networks stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $151.58, for a total transaction of $606,471.58. Following the transaction, the chief executive officer now directly owns 32,041 shares in the company, valued at $4,856,774.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Ryan C. Kearny sold 3,825 shares of F5 Networks stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $153.99, for a total value of $589,011.75. Following the transaction, the senior vice president now owns 10,978 shares in the company, valued at $1,690,502.22. The disclosure for this sale can be found here. Insiders have sold 10,168 shares of company stock worth $1,546,472 over the last quarter. 0.22% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Atlas Capital Advisors LLC lifted its position in shares of F5 Networks by 306.5% in the first quarter. Atlas Capital Advisors LLC now owns 187 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 141 shares in the last quarter. Global Trust Asset Management LLC purchased a new position in shares of F5 Networks in the first quarter valued at about $41,000. grace capital purchased a new position in shares of F5 Networks in the fourth quarter valued at about $49,000. Tortoise Index Solutions LLC purchased a new position in shares of F5 Networks in the first quarter valued at about $66,000. Finally, Omnia Family Wealth LLC lifted its position in shares of F5 Networks by 43.8% in the fourth quarter. Omnia Family Wealth LLC now owns 450 shares of the network technology company’s stock valued at $73,000 after acquiring an additional 137 shares in the last quarter. Institutional investors own 97.07% of the company’s stock.
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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