Rhumbline Advisers Lowers Holdings in F5 Networks, Inc. (FFIV)

Rhumbline Advisers decreased its position in shares of F5 Networks, Inc. (NASDAQ:FFIV) by 0.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 136,120 shares of the network technology company’s stock after selling 748 shares during the period. Rhumbline Advisers owned approximately 0.22% of F5 Networks worth $16,411,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Los Angeles Capital Management & Equity Research Inc. raised its position in F5 Networks by 1.1% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 425,603 shares of the network technology company’s stock valued at $51,311,000 after purchasing an additional 4,628 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of F5 Networks by 10.1% in the third quarter. Toronto Dominion Bank now owns 24,154 shares of the network technology company’s stock worth $2,911,000 after buying an additional 2,221 shares during the period. Sei Investments Co. increased its holdings in shares of F5 Networks by 36.1% in the third quarter. Sei Investments Co. now owns 12,365 shares of the network technology company’s stock worth $1,491,000 after buying an additional 3,280 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of F5 Networks by 58.1% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,360 shares of the network technology company’s stock worth $164,000 after buying an additional 500 shares during the period. Finally, Grimes & Company Inc. purchased a new position in shares of F5 Networks in the third quarter worth about $6,386,000. Institutional investors and hedge funds own 99.58% of the company’s stock.

In other news, EVP Benjamin Gibson sold 3,262 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $117.25, for a total value of $382,469.50. Following the completion of the sale, the executive vice president now directly owns 815 shares in the company, valued at approximately $95,558.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Edward Julian Eames sold 15,336 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $121.06, for a total value of $1,856,576.16. Following the completion of the sale, the executive vice president now owns 43,824 shares of the company’s stock, valued at $5,305,333.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,974 shares of company stock valued at $4,698,814. Company insiders own 0.26% of the company’s stock.

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Several research firms have recently commented on FFIV. Wells Fargo & Company downgraded F5 Networks from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $145.00 to $120.00 in a report on Thursday, July 27th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of F5 Networks in a report on Tuesday, September 12th. Piper Jaffray Companies decreased their price objective on F5 Networks to $121.00 and set a “neutral” rating on the stock in a report on Thursday, July 27th. CIBC reiterated a “market perform” rating on shares of F5 Networks in a report on Thursday, July 27th. Finally, Robert W. Baird reiterated a “hold” rating on shares of F5 Networks in a report on Thursday, July 27th. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $126.76.

Shares of F5 Networks, Inc. (NASDAQ FFIV) opened at $122.45 on Wednesday. The firm has a market cap of $7,670.21, a price-to-earnings ratio of 18.94, a price-to-earnings-growth ratio of 1.95 and a beta of 1.01. F5 Networks, Inc. has a 12 month low of $114.63 and a 12 month high of $149.50.

F5 Networks (NASDAQ:FFIV) last announced its earnings results on Wednesday, October 25th. The network technology company reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.24. The business 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 quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.11 EPS. analysts expect that F5 Networks, Inc. will post 6.7 EPS for the current year.

F5 Networks announced that its board has approved a stock repurchase program on Wednesday, October 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the network technology company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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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Institutional Ownership by Quarter for F5 Networks (NASDAQ:FFIV)

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