F5 Networks (NASDAQ:FFIV) Lowered to “Sell” at Goldman Sachs Group

Goldman Sachs Group lowered shares of F5 Networks (NASDAQ:FFIV) from a neutral rating to a sell rating in a research report sent to investors on Monday, Benzinga reports. The firm currently has $120.00 target price on the network technology company’s stock, down from their prior target price of $165.00.

A number of other equities research analysts also recently commented on the company. DA Davidson cut their price objective on F5 Networks to $170.00 and set a neutral rating for the company in a research report on Wednesday, March 13th. Deutsche Bank cut their price objective on F5 Networks from $115.00 to $110.00 and set a sell rating for the company in a research report on Tuesday, March 12th. Zacks Investment Research downgraded Guaranty Federal Bancshares from a hold rating to a sell rating in a research report on Tuesday, April 23rd. ValuEngine downgraded Xylem from a buy rating to a hold rating in a research report on Tuesday, May 14th. Finally, William Blair reiterated an outperform rating on shares of Kezar Life Sciences in a research report on Tuesday, March 12th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of Hold and an average target price of $167.68.

FFIV opened at $142.76 on Monday. The firm has a market capitalization of $8.45 billion, a P/E ratio of 17.85, a price-to-earnings-growth ratio of 1.96 and a beta of 1.04. F5 Networks has a 1-year low of $131.53 and a 1-year high of $199.71. The business has a 50 day moving average price of $140.85.

F5 Networks (NASDAQ:FFIV) last released its earnings results on Wednesday, April 24th. The network technology company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.01. The firm had revenue of $544.90 million during the quarter, compared to the consensus estimate of $547.03 million. F5 Networks had a return on equity of 39.13% and a net margin of 22.91%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.31 earnings per share. On average, analysts forecast that F5 Networks will post 8.59 EPS for the current year.

In other F5 Networks news, EVP Thomas Dean Fountain sold 1,017 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $151.58, for a total transaction of $154,156.86. Following the sale, the executive vice president now directly owns 2,497 shares of the company’s stock, valued at approximately $378,495.26. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Ryan C. Kearny sold 3,825 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $153.99, for a total transaction of $589,011.75. Following the sale, the senior vice president now directly owns 10,978 shares in the company, valued at $1,690,502.22. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,168 shares of company stock worth $1,546,472. Company insiders own 0.22% of the company’s stock.

Large investors have recently made changes to their positions in the business. Swedbank increased its stake in shares of F5 Networks by 11.8% in the first quarter. Swedbank now owns 892,194 shares of the network technology company’s stock worth $140,012,000 after acquiring an additional 93,984 shares during the last quarter. Toronto Dominion Bank increased its stake in shares of F5 Networks by 15.8% in the first quarter. Toronto Dominion Bank now owns 38,847 shares of the network technology company’s stock worth $6,095,000 after acquiring an additional 5,314 shares during the last quarter. Synovus Financial Corp increased its stake in shares of F5 Networks by 12.9% in the first quarter. Synovus Financial Corp now owns 2,024 shares of the network technology company’s stock worth $314,000 after acquiring an additional 231 shares during the last quarter. Zions Bancorporation N.A. acquired a new position in shares of F5 Networks in the first quarter worth $166,000. Finally, MERIAN GLOBAL INVESTORS UK Ltd increased its stake in shares of F5 Networks by 6.1% in the first quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,311,316 shares of the network technology company’s stock worth $205,784,000 after acquiring an additional 75,676 shares during the last quarter. 97.07% of the stock is currently owned by institutional investors.

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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