United Services Automobile Association grew its position in F5 Networks, Inc. (NASDAQ:FFIV) by 0.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 126,038 shares of the network technology company’s stock after buying an additional 1,148 shares during the period. United Services Automobile Association owned approximately 0.21% of F5 Networks worth $25,135,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Piedmont Investment Advisors LLC bought a new stake in shares of F5 Networks in the 2nd quarter valued at approximately $119,000. Raymond James Financial Services Advisors Inc. grew its stake in shares of F5 Networks by 28.9% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 1,868 shares of the network technology company’s stock valued at $322,000 after purchasing an additional 419 shares during the period. Sumitomo Mitsui Asset Management Company LTD grew its stake in shares of F5 Networks by 12.8% in the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 4,802 shares of the network technology company’s stock valued at $828,000 after purchasing an additional 545 shares during the period. Alps Advisors Inc. grew its stake in shares of F5 Networks by 23.1% in the 2nd quarter. Alps Advisors Inc. now owns 4,004 shares of the network technology company’s stock valued at $525,000 after purchasing an additional 752 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of F5 Networks by 15.0% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 218,846 shares of the network technology company’s stock valued at $37,740,000 after purchasing an additional 28,559 shares during the period. 98.54% of the stock is owned by institutional investors and hedge funds.
NASDAQ:FFIV opened at $174.86 on Tuesday. F5 Networks, Inc. has a 52-week low of $129.70 and a 52-week high of $199.71. The firm has a market cap of $10.43 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 2.05 and a beta of 0.96.
Several equities research analysts have recently weighed in on FFIV shares. Credit Suisse Group upped their price objective on F5 Networks from $188.00 to $216.00 and gave the company an “outperform” rating in a research note on Wednesday, September 5th. Zacks Investment Research restated a “buy” rating and set a $189.00 price target on shares of F5 Networks in a research report on Tuesday, November 13th. Piper Jaffray Companies lowered F5 Networks from a “neutral” rating to an “underweight” rating and increased their price target for the stock from $168.00 to $180.00 in a research report on Monday, October 1st. MKM Partners increased their price target on F5 Networks to $190.00 and gave the stock a “neutral” rating in a research report on Friday, October 26th. Finally, BidaskClub lowered F5 Networks from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 4th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $174.41.
In other news, EVP Scot Frazier Rogers sold 13,557 shares of the stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $177.91, for a total value of $2,411,925.87. Following the transaction, the executive vice president now owns 22,141 shares of the company’s stock, valued at approximately $3,939,105.31. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Ryan C. Kearny sold 8,226 shares of the stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $177.90, for a total value of $1,463,405.40. Following the completion of the transaction, the senior vice president now directly owns 14,139 shares in the company, valued at approximately $2,515,328.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,012 shares of company stock worth $8,473,168. Company insiders own 0.30% of the company’s stock.
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F5 Networks Profile
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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