Bremer Trust National Association lessened its position in shares of F5 Networks, Inc. (NASDAQ:FFIV) by 4.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,843 shares of the network technology company’s stock after selling 1,206 shares during the period. F5 Networks accounts for 0.8% of Bremer Trust National Association’s investment portfolio, making the stock its 26th largest position. Bremer Trust National Association’s holdings in F5 Networks were worth $2,875,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of FFIV. OppenheimerFunds Inc. lifted its position in shares of F5 Networks by 6.1% during the 1st quarter. OppenheimerFunds Inc. now owns 1,705 shares of the network technology company’s stock valued at $243,000 after buying an additional 98 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of F5 Networks by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 230,756 shares of the network technology company’s stock valued at $32,898,000 after buying an additional 8,939 shares during the last quarter. KCG Holdings Inc. purchased a new position in shares of F5 Networks during the 1st quarter valued at $658,000. Janus Capital Management LLC lifted its position in shares of F5 Networks by 335.8% during the 1st quarter. Janus Capital Management LLC now owns 68,576 shares of the network technology company’s stock valued at $9,777,000 after buying an additional 52,839 shares during the last quarter. Finally, Bank of Nova Scotia lifted its position in shares of F5 Networks by 908.7% during the 1st quarter. Bank of Nova Scotia now owns 14,828 shares of the network technology company’s stock valued at $2,114,000 after buying an additional 13,358 shares during the last quarter. 96.00% of the stock is currently owned by hedge funds and other institutional investors.
FFIV has been the topic of a number of recent research reports. Zacks Investment Research cut F5 Networks from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Morgan Stanley dropped their price objective on F5 Networks from $130.00 to $120.00 and set an “equal weight” rating on the stock in a report on Monday, October 9th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of F5 Networks in a report on Tuesday, September 12th. Standpoint Research started coverage on F5 Networks in a report on Monday, October 2nd. They set an “accumulate” rating and a $160.00 price objective on the stock. Finally, Deutsche Bank AG reissued a “sell” rating and set a $90.00 price objective (down previously from $100.00) on shares of F5 Networks in a report on Tuesday, October 3rd. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $126.76.
In other news, CEO Francois Locoh-Donou sold 2,029 shares of F5 Networks stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $119.61, for a total value of $242,688.69. Following the sale, the chief executive officer now directly owns 2,636 shares of the company’s stock, valued at $315,291.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew Reinland sold 6,215 shares of F5 Networks stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $120.27, for a total value of $747,478.05. Following the completion of the sale, the chief financial officer now directly owns 20,601 shares in the company, valued at $2,477,682.27. The disclosure for this sale can be found here. Insiders sold 14,558 shares of company stock worth $1,740,555 over the last ninety days. Insiders own 0.26% of the company’s stock.
Shares of F5 Networks, Inc. (FFIV) traded up 1.40% during trading on Tuesday, hitting $121.31. The stock had a trading volume of 451,324 shares. The stock has a 50 day moving average of $118.39 and a 200 day moving average of $123.98. F5 Networks, Inc. has a 12 month low of $114.63 and a 12 month high of $149.50. The company has a market cap of $7.71 billion, a PE ratio of 20.15 and a beta of 1.14.
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 return on equity of 34.70% and a net margin of 20.13%. The firm had revenue of $538.00 million for the quarter, compared to analysts’ expectations of $534.71 million. During the same period in the previous year, the firm posted $2.11 earnings per share. The business’s revenue was up 2.4% compared to the same quarter last year. Equities analysts forecast that F5 Networks, Inc. will post $8.70 EPS for the current fiscal year.
F5 Networks announced that its Board of Directors has initiated a stock buyback program on Wednesday, October 25th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the network technology company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
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F5 Networks Company Profile
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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