Calamos Advisors LLC boosted its position in F5 Networks, Inc. (NASDAQ:FFIV) by 3.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,451 shares of the network technology company’s stock after buying an additional 823 shares during the quarter. Calamos Advisors LLC’s holdings in F5 Networks were worth $2,707,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Contravisory Investment Management Inc. grew its holdings in shares of F5 Networks by 0.8% during the second quarter. Contravisory Investment Management Inc. now owns 1,846 shares of the network technology company’s stock valued at $235,000 after purchasing an additional 14 shares during the last quarter. Bronfman E.L. Rothschild L.P. grew its holdings in shares of F5 Networks by 1.5% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,397 shares of the network technology company’s stock valued at $178,000 after purchasing an additional 21 shares during the last quarter. Intrust Bank NA grew its holdings in shares of F5 Networks by 1.1% during the second quarter. Intrust Bank NA now owns 4,590 shares of the network technology company’s stock valued at $584,000 after purchasing an additional 50 shares during the last quarter. Synovus Financial Corp grew its holdings in shares of F5 Networks by 4.5% during the second quarter. Synovus Financial Corp now owns 1,851 shares of the network technology company’s stock valued at $241,000 after purchasing an additional 79 shares during the last quarter. Finally, MAI Capital Management grew its holdings in shares of F5 Networks by 1.2% during the second quarter. MAI Capital Management now owns 6,906 shares of the network technology company’s stock valued at $877,000 after purchasing an additional 80 shares during the last quarter. 96.00% of the stock is owned by institutional investors.
In other news, EVP Benjamin Gibson sold 3,262 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $117.25, for a total transaction of $382,469.50. Following the completion of the sale, the executive vice president now owns 815 shares of the company’s stock, valued at $95,558.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.26% of the company’s stock.
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F5 Networks (NASDAQ:FFIV) last posted its quarterly earnings data on Wednesday, October 25th. The network technology company reported $2.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.20 by $0.24. The company had revenue of $538.00 million during the quarter, compared to analyst estimates of $534.71 million. F5 Networks had a net margin of 20.13% and a return on equity of 34.70%. The company’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $2.11 earnings per share.
F5 Networks announced that its Board of Directors has authorized a share repurchase plan on Wednesday, October 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the network technology company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
Several research firms have recently commented on FFIV. Wells Fargo & Company lowered F5 Networks from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $145.00 to $120.00 in a report on Thursday, July 27th. Piper Jaffray Companies lowered their target price on F5 Networks to $121.00 and set a “neutral” rating for the company in a report on Thursday, July 27th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of F5 Networks in a report on Tuesday, September 12th. CIBC reaffirmed a “market perform” rating on shares of F5 Networks in a report on Thursday, July 27th. Finally, Robert W. Baird reaffirmed a “hold” rating on shares of F5 Networks in a report on Thursday, July 27th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $126.76.
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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