F5 Networks, Inc. (NASDAQ:FFIV) had its target price reduced by Nomura from $115.00 to $110.00 in a research report report published on Thursday morning. Nomura currently has a neutral rating on the network technology company’s stock.
Several other equities research analysts have also recently issued reports on FFIV. Piper Jaffray Companies cut shares of F5 Networks from an overweight rating to a neutral rating and dropped their target price for the stock from $144.00 to $136.00 in a report on Friday, July 14th. Drexel Hamilton restated a buy rating and issued a $160.00 target price on shares of F5 Networks in a report on Friday, July 21st. BidaskClub downgraded shares of F5 Networks from a sell rating to a strong sell rating in a research report on Tuesday, July 25th. Robert W. Baird reiterated a hold rating on shares of F5 Networks in a research report on Thursday, July 27th. Finally, Citigroup Inc. downgraded shares of F5 Networks to a market perform rating in a research report on Thursday, July 27th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $126.76.
F5 Networks (NASDAQ FFIV) traded down 2.31% during trading on Thursday, hitting $121.18. 1,425,751 shares of the company’s stock traded hands. The stock has a market cap of $7.70 billion, a P/E ratio of 20.13 and a beta of 1.14. F5 Networks has a 12 month low of $114.63 and a 12 month high of $149.50. The company’s 50 day moving average is $118.27 and its 200-day moving average is $124.25.
F5 Networks (NASDAQ:FFIV) last issued its earnings results on Wednesday, October 25th. The network technology company reported $2.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.20 by $0.24. F5 Networks had a net margin of 25.23% and a return on equity of 44.74%. The company had revenue of $538.00 million for the quarter, compared to analysts’ expectations of $534.71 million. During the same quarter last year, the company posted $2.11 earnings per share. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. On average, analysts predict that F5 Networks will post $8.74 earnings per share for the current year.
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F5 Networks declared that its board has authorized a stock 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 purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
In related news, CEO Francois Locoh-Donou sold 2,029 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $119.61, for a total transaction of $242,688.69. Following the completion of the transaction, the chief executive officer now directly owns 2,636 shares of the company’s stock, valued at $315,291.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Edward Julian Eames sold 4,378 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $120.63, for a total transaction of $528,118.14. Following the transaction, the chief operating officer now directly owns 35,088 shares of the company’s stock, valued at $4,232,665.44. The disclosure for this sale can be found here. Insiders have sold 22,312 shares of company stock valued at $2,675,607 over the last ninety days. 0.26% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the business. Acrospire Investment Management LLC grew its stake in shares of F5 Networks by 100.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 800 shares of the network technology company’s stock worth $102,000 after buying an additional 400 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of F5 Networks by 23.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 860 shares of the network technology company’s stock worth $110,000 after buying an additional 161 shares in the last quarter. IFP Advisors Inc grew its stake in shares of F5 Networks by 65.6% in the 2nd quarter. IFP Advisors Inc now owns 959 shares of the network technology company’s stock worth $122,000 after buying an additional 380 shares in the last quarter. American Beacon Advisors Inc. purchased a new position in shares of F5 Networks in the 1st quarter worth $153,000. Finally, Bronfman E.L. Rothschild L.P. grew its stake in shares of F5 Networks by 1.5% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,397 shares of the network technology company’s stock worth $178,000 after buying an additional 21 shares in the last quarter. 96.21% of the stock is owned by institutional investors and hedge funds.
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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