Genesee Valley Trust Co. reduced its stake in shares of F5 Networks Inc. (NASDAQ:FFIV) by 11.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 7,783 shares of the network technology company’s stock after selling 1,036 shares during the period. Genesee Valley Trust Co.’s holdings in F5 Networks were worth $886,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. State Street Corp boosted its position in F5 Networks by 11.9% in the first quarter. State Street Corp now owns 3,389,202 shares of the network technology company’s stock valued at $358,752,000 after buying an additional 359,112 shares in the last quarter. Swedbank boosted its position in F5 Networks by 6.5% in the second quarter. Swedbank now owns 2,676,975 shares of the network technology company’s stock valued at $304,747,000 after buying an additional 163,523 shares in the last quarter. Renaissance Technologies LLC boosted its position in F5 Networks by 5.3% in the first quarter. Renaissance Technologies LLC now owns 1,087,274 shares of the network technology company’s stock valued at $115,088,000 after buying an additional 55,200 shares in the last quarter. Bank of Montreal Can bought a new position in F5 Networks during the second quarter valued at about $118,505,000. Finally, Panagora Asset Management Inc. boosted its position in F5 Networks by 75.4% in the first quarter. Panagora Asset Management Inc. now owns 668,952 shares of the network technology company’s stock valued at $70,809,000 after buying an additional 287,664 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors.

F5 Networks Inc. (NASDAQ:FFIV) traded down 0.39% during trading on Tuesday, hitting $118.45. 399,888 shares of the stock traded hands. F5 Networks Inc. has a one year low of $86.03 and a one year high of $127.13. The company’s 50 day moving average is $122.89 and its 200 day moving average is $112.25. The company has a market capitalization of $7.84 billion, a P/E ratio of 23.15 and a beta of 1.94.

F5 Networks (NASDAQ:FFIV) last released its quarterly earnings results on Wednesday, July 20th. The network technology company reported $1.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.79 by $0.02. F5 Networks had a net margin of 17.96% and a return on equity of 29.95%. The business had revenue of $496.50 million for the quarter, compared to analysts’ expectations of $495.48 million. During the same period in the prior year, the firm earned $1.67 earnings per share. F5 Networks’s revenue was up 2.7% compared to the same quarter last year. On average, equities analysts forecast that F5 Networks Inc. will post $7.14 EPS for the current fiscal year.

Several research analysts have issued reports on FFIV shares. Wunderlich upped their price target on F5 Networks from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, July 21st. MKM Partners upped their price target on F5 Networks from $106.00 to $118.00 and gave the company a “neutral” rating in a report on Wednesday, June 8th. Nomura cut F5 Networks to a “sell” rating and set a $90.00 price target on the stock. in a report on Tuesday, July 19th. Drexel Hamilton reaffirmed a “buy” rating and issued a $155.00 price target (up previously from $145.00) on shares of F5 Networks in a report on Sunday, July 24th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $110.00 price target (up previously from $100.00) on shares of F5 Networks in a report on Sunday, July 24th. Two equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. F5 Networks presently has an average rating of “Hold” and a consensus target price of $116.01.

In other F5 Networks news, insider John Mcadam sold 7,169 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $126.11, for a total value of $904,082.59. Following the transaction, the insider now directly owns 33,682 shares of the company’s stock, valued at $4,247,637.02. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Andrew Reinland sold 5,674 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $122.94, for a total transaction of $697,561.56. Following the completion of the transaction, the chief financial officer now directly owns 16,935 shares in the company, valued at $2,081,988.90. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by company insiders.

F5 Networks Company Profile

F5 Networks, Inc is the developer and provider of application delivery services. The Company’s core technology is a full-proxy, programmable, software platform called TMOS (Traffic Management Operating System). It helps organizations seamlessly scale cloud, data center, and software-defined networking deployments to successfully deliver applications to anyone, anywhere, at any time.

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