F5 Networks, Inc. (FFIV) Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. decreased its stake in F5 Networks, Inc. (NASDAQ:FFIV) by 81.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,847 shares of the network technology company’s stock after selling 30,000 shares during the period. Wesbanco Bank Inc.’s holdings in F5 Networks were worth $899,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. boosted its holdings 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 valued at $110,000 after buying an additional 161 shares in the last quarter. HighTower Advisors LLC raised its position in F5 Networks by 0.9% in the 2nd quarter. HighTower Advisors LLC now owns 18,592 shares of the network technology company’s stock valued at $2,394,000 after purchasing an additional 166 shares during the last quarter. Sentry Investment Management LLC raised its position in F5 Networks by 3.5% in the 2nd quarter. Sentry Investment Management LLC now owns 5,425 shares of the network technology company’s stock valued at $689,000 after purchasing an additional 181 shares during the last quarter. Nordea Investment Management AB raised its position in F5 Networks by 2.2% in the 2nd quarter. Nordea Investment Management AB now owns 9,303 shares of the network technology company’s stock valued at $1,182,000 after purchasing an additional 196 shares during the last quarter. Finally, RNC Capital Management LLC raised its position in F5 Networks by 13.9% in the 2nd quarter. RNC Capital Management LLC now owns 2,248 shares of the network technology company’s stock valued at $286,000 after purchasing an additional 275 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

F5 Networks, Inc. (NASDAQ:FFIV) opened at $145.03 on Friday. The company has a market cap of $8,938.97 and a price-to-earnings ratio of 22.31. 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 quarterly earnings data on Wednesday, January 24th. The network technology company reported $2.26 EPS for the quarter, topping the Zacks’ consensus estimate of $2.05 by $0.21. The company had revenue of $523.20 million during the quarter, compared to the consensus estimate of $521.07 million. F5 Networks had a net margin of 19.79% and a return on equity of 35.98%. F5 Networks’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.98 EPS. analysts forecast that F5 Networks, Inc. will post 7.23 earnings per share for the current year.

F5 Networks declared that its board has authorized a share buyback program on Wednesday, October 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the network technology company to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

In other F5 Networks news, COO Edward Julian Eames sold 15,489 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $120.84, for a total transaction of $1,871,690.76. Following the completion of the transaction, the chief operating officer now owns 21,587 shares in the company, valued at approximately $2,608,573.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.26% of the stock is currently owned by corporate insiders.

FFIV has been the subject of several research reports. Morgan Stanley reduced their price target on shares of F5 Networks from $130.00 to $120.00 and set an “equal weight” rating for the company in a research report on Monday, October 9th. Royal Bank of Canada reiterated a “hold” rating and issued a $129.00 price target on shares of F5 Networks in a research report on Tuesday, October 10th. Zacks Investment Research downgraded shares of F5 Networks from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Piper Jaffray Companies reiterated a “hold” rating and issued a $121.00 price target on shares of F5 Networks in a research report on Thursday, October 12th. Finally, KeyCorp reiterated a “hold” rating on shares of F5 Networks in a research report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $140.05.

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

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