F5 Networks, Inc. (FFIV) Stake Lowered by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS reduced its holdings in F5 Networks, Inc. (NASDAQ:FFIV) by 22.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 87,195 shares of the network technology company’s stock after selling 24,686 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in F5 Networks were worth $17,388,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of FFIV. Piedmont Investment Advisors LLC acquired a new stake in shares of F5 Networks in the 2nd quarter valued at approximately $119,000. Truvestments Capital LLC acquired a new stake in shares of F5 Networks in the 3rd quarter valued at approximately $123,000. Qube Research & Technologies Ltd acquired a new stake in shares of F5 Networks in the 2nd quarter valued at approximately $131,000. Hollencrest Capital Management acquired a new stake in shares of F5 Networks in the 3rd quarter valued at approximately $202,000. Finally, GW Henssler & Associates Ltd. acquired a new stake in shares of F5 Networks in the 3rd quarter valued at approximately $205,000. 98.31% of the stock is owned by institutional investors and hedge funds.

Shares of FFIV stock opened at $171.97 on Friday. The firm has a market cap of $10.43 billion, a P/E ratio of 21.23, a PEG ratio of 2.05 and a beta of 0.95. F5 Networks, Inc. has a 1 year low of $126.02 and a 1 year high of $199.71.

F5 Networks (NASDAQ:FFIV) last issued its quarterly earnings data on Wednesday, October 24th. The network technology company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.27. The firm had revenue of $562.71 million during the quarter, compared to analysts’ expectations of $560.72 million. F5 Networks had a return on equity of 40.04% and a net margin of 20.99%. Analysts predict that F5 Networks, Inc. will post 8.48 EPS for the current year.

Several equities analysts recently issued reports on the company. Zacks Investment Research reaffirmed a “buy” rating and set a $189.00 price objective on shares of F5 Networks in a report on Tuesday, November 13th. Cowen lifted their price objective on F5 Networks from $186.00 to $196.00 and gave the stock an “outperform” rating in a report on Friday, October 26th. MKM Partners lifted their price objective on F5 Networks to $190.00 and gave the stock a “neutral” rating in a report on Friday, October 26th. Credit Suisse Group lifted their price objective on F5 Networks from $216.00 to $218.00 and gave the stock an “outperform” rating in a report on Thursday, October 25th. Finally, BMO Capital Markets lifted their price objective on F5 Networks from $188.00 to $195.00 and gave the stock an “outperform” rating in a report on Thursday, October 25th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company’s stock. F5 Networks currently has an average rating of “Hold” and an average target price of $174.41.

In other F5 Networks news, CEO Francois Locoh-Donou sold 8,530 shares of the firm’s stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $178.04, for a total transaction of $1,518,681.20. Following the completion of the transaction, the chief executive officer now owns 21,961 shares of the company’s stock, valued at $3,909,936.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sandra E. Bergeron sold 8,900 shares of the firm’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of $169.54, for a total value of $1,508,906.00. Following the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $339,080. The disclosure for this sale can be found here. Insiders have sold 48,012 shares of company stock valued at $8,473,168 in the last three months. 0.26% of the stock is currently owned by company insiders.

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About F5 Networks

F5 Networks, Inc develops, markets, and sells application delivery networking products that optimize the security, performance, and availability of network applications, servers, and storage systems. The company's primary application delivery technology is Traffic Management Operating System (TMOS) that enable company's products to intercept, inspect, and act on the contents of traffic from virtually each type of Internet Protocol-enabled application.

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

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