CIBC World Markets Inc. grew its holdings in shares of F5 Networks, Inc. (NASDAQ:FFIV) by 2.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,347 shares of the network technology company’s stock after buying an additional 266 shares during the quarter. CIBC World Markets Inc.’s holdings in F5 Networks were worth $1,624,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc increased its position in F5 Networks by 2.5% during the 3rd quarter. Vanguard Group Inc now owns 6,537,476 shares of the network technology company’s stock valued at $1,303,703,000 after purchasing an additional 158,995 shares during the period. IFP Advisors Inc increased its position in F5 Networks by 128.9% during the 4th quarter. IFP Advisors Inc now owns 602 shares of the network technology company’s stock valued at $97,000 after purchasing an additional 339 shares during the period. Royal London Asset Management Ltd. grew its position in shares of F5 Networks by 4.7% in the 4th quarter. Royal London Asset Management Ltd. now owns 25,487 shares of the network technology company’s stock worth $4,094,000 after buying an additional 1,135 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of F5 Networks in the 4th quarter worth approximately $48,000. Finally, Intercontinental Wealth Advisors LLC purchased a new position in shares of F5 Networks in the 4th quarter worth approximately $25,000. Institutional investors and hedge funds own 97.15% of the company’s stock.
In other news, CFO Francis J. Pelzer sold 231 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $151.58, for a total transaction of $35,014.98. Following the completion of the sale, the chief financial officer now owns 902 shares of the company’s stock, valued at $136,725.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Ryan C. Kearny sold 3,825 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $153.99, for a total transaction of $589,011.75. Following the sale, 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. Over the last quarter, insiders sold 10,168 shares of company stock valued at $1,546,472. Company insiders own 0.22% of the company’s stock.
A number of research analysts have recently issued reports on FFIV shares. Nomura raised shares of 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 research report on Monday, April 1st. Zacks Investment Research upgraded shares of F5 Networks from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. BidaskClub upgraded shares of F5 Networks from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. William Blair reiterated a “market perform” rating on shares of F5 Networks in a research note on Tuesday, March 12th. Finally, JPMorgan Chase & Co. cut shares of F5 Networks from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $210.00 to $183.00 in a research note on Tuesday, March 12th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $171.66.
NASDAQ FFIV traded up $1.61 on Wednesday, hitting $142.63. 470,257 shares of the company’s stock traded hands, compared to its average volume of 687,674. The stock’s 50-day moving average price is $140.58. F5 Networks, Inc. has a 1-year low of $131.53 and a 1-year high of $199.71. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 1.99 and a beta of 1.01.
F5 Networks (NASDAQ:FFIV) last posted its earnings results on Wednesday, April 24th. The network technology company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.01. F5 Networks had a net margin of 22.91% and a return on equity of 39.13%. The firm had revenue of $544.90 million during the quarter, compared to analysts’ expectations of $547.03 million. During the same period in the previous year, the business posted $2.31 EPS. The business’s revenue was up 2.2% compared to the same quarter last year. Equities analysts forecast that F5 Networks, Inc. will post 8.59 earnings per share for the current fiscal year.
F5 Networks Company 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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