BidaskClub Downgrades F5 Networks, Inc. (NASDAQ:FFIV) to Strong Sell
BidaskClub downgraded shares of F5 Networks, Inc. (NASDAQ:FFIV) from a sell rating to a strong sell rating in a research note released on Tuesday morning.
Several other analysts have also recently issued reports on FFIV. Deutsche Bank AG cut F5 Networks from a hold rating to a sell rating and reduced their price objective for the company from $120.00 to $100.00 in a research note on Wednesday, March 29th. Needham & Company LLC reiterated a hold rating on shares of F5 Networks in a research note on Thursday, March 30th. Oppenheimer Holdings, Inc. set a $157.00 price objective on F5 Networks and gave the company a buy rating in a research note on Saturday, April 8th. Credit Suisse Group set a $138.00 price objective on F5 Networks and gave the company a hold rating in a research note on Thursday, April 20th. Finally, Drexel Hamilton reiterated a buy rating and issued a $165.00 price objective on shares of F5 Networks in a research note on Monday, April 24th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the company. F5 Networks presently has a consensus rating of Hold and an average target price of $132.00.
Shares of F5 Networks (NASDAQ:FFIV) traded up 2.27% on Tuesday, hitting $121.72. The stock had a trading volume of 1,458,511 shares. F5 Networks has a 12-month low of $114.45 and a 12-month high of $149.50. The stock has a 50 day moving average of $127.78 and a 200 day moving average of $135.13. The firm has a market cap of $7.73 billion, a price-to-earnings ratio of 20.22 and a beta of 1.17.
F5 Networks (NASDAQ:FFIV) last announced its quarterly earnings data on Wednesday, July 26th. The network technology company reported $2.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.03. The business had revenue of $517.80 million for the quarter, compared to analysts’ expectations of $525.57 million. F5 Networks had a return on equity of 33.85% and a net margin of 18.96%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the firm earned $1.81 earnings per share. Equities analysts predict that F5 Networks will post $8.18 earnings per share for the current fiscal year.
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In related news, EVP Ryan C. Kearny sold 846 shares of the firm’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $127.95, for a total transaction of $108,245.70. Following the transaction, the executive vice president now owns 1,071 shares of the company’s stock, valued at $137,034.45. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John Mcadam sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $130.17, for a total value of $1,301,700.00. Following the transaction, the director now directly owns 66,953 shares in the company, valued at approximately $8,715,272.01. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,146 shares of company stock worth $3,234,190. Corporate insiders own 0.26% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. American Beacon Advisors Inc. bought a new position in F5 Networks during the first quarter worth about $153,000. Van ECK Associates Corp raised its stake in shares of F5 Networks by 6.0% in the first quarter. Van ECK Associates Corp now owns 1,153 shares of the network technology company’s stock worth $164,000 after buying an additional 65 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in shares of F5 Networks by 5.1% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,376 shares of the network technology company’s stock worth $196,000 after buying an additional 67 shares in the last quarter. Putnam Investments LLC acquired a new stake in shares of F5 Networks during the fourth quarter worth $201,000. Finally, First Bank & Trust raised its stake in shares of F5 Networks by 0.3% in the first quarter. First Bank & Trust now owns 1,630 shares of the network technology company’s stock worth $232,000 after buying an additional 5 shares in the last quarter. 94.88% of the stock is currently owned by hedge funds and other institutional investors.
F5 Networks Company Profile
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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