Wells Fargo & Company cut shares of F5 Networks, Inc. (NASDAQ:FFIV) from an outperform rating to a market perform rating in a research note published on Thursday, Marketbeat.com reports. They currently have $120.00 price objective on the network technology company’s stock, down from their previous price objective of $145.00.

Other research analysts also recently issued research reports about the stock. Oppenheimer Holdings, Inc. set a $157.00 target price on shares of F5 Networks and gave the company a buy rating in a research report on Saturday, April 8th. Drexel Hamilton reissued a buy rating and set a $165.00 target price on shares of F5 Networks in a research report on Monday, April 24th. Morgan Stanley cut their target price on shares of F5 Networks from $136.00 to $130.00 and set an equal weight rating on the stock in a research report on Friday, April 28th. Credit Suisse Group set a $138.00 target price on shares of F5 Networks and gave the company a hold rating in a research report on Thursday, April 20th. Finally, Needham & Company LLC reissued a hold rating on shares of F5 Networks in a research report on Thursday, March 30th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $132.00.

F5 Networks (NASDAQ FFIV) traded down 0.76% during midday trading on Thursday, reaching $120.80. 185,144 shares of the company traded hands. F5 Networks has a one year low of $114.45 and a one year high of $149.50. The company has a 50 day moving average price of $127.78 and a 200-day moving average price of $135.13. The stock has a market capitalization of $7.68 billion, a P/E ratio of 20.06 and a beta of 1.17.

F5 Networks (NASDAQ:FFIV) last posted its earnings results on Wednesday, July 26th. The network technology company reported $2.03 EPS for the quarter, meeting analysts’ consensus estimates of $2.03. The business had revenue of $517.80 million for the quarter, compared to the consensus estimate of $525.57 million. F5 Networks had a net margin of 18.96% and a return on equity of 33.85%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.81 EPS. Analysts forecast that F5 Networks will post $8.18 EPS for the current fiscal year.

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In other F5 Networks news, EVP John D. Dilullo sold 3,420 shares of F5 Networks stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $127.62, for a total transaction of $436,460.40. Following the completion of the sale, the executive vice president now directly owns 4,926 shares in the company, valued at approximately $628,656.12. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Andrew Reinland sold 6,235 shares of F5 Networks stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $127.40, for a total transaction of $794,339.00. Following the sale, the chief financial officer now owns 18,602 shares of the company’s stock, valued at $2,369,894.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,655 shares of company stock valued at $2,532,499. Company insiders own 0.26% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of F5 Networks by 2,108.1% in the first quarter. BlackRock Inc. now owns 4,404,873 shares of the network technology company’s stock valued at $628,003,000 after buying an additional 4,205,384 shares during the last quarter. Morgan Stanley boosted its stake in shares of F5 Networks by 171.1% in the first quarter. Morgan Stanley now owns 829,117 shares of the network technology company’s stock valued at $118,207,000 after buying an additional 523,250 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of F5 Networks by 36.8% in the first quarter. Bank of Montreal Can now owns 1,745,173 shares of the network technology company’s stock valued at $248,809,000 after buying an additional 469,449 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of F5 Networks by 3,947.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 366,821 shares of the network technology company’s stock valued at $52,298,000 after buying an additional 357,758 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. boosted its stake in shares of F5 Networks by 30.3% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 933,496 shares of the network technology company’s stock valued at $133,088,000 after buying an additional 216,959 shares during the last quarter. Institutional investors and hedge funds own 94.75% of the company’s stock.

About F5 Networks

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.

Analyst Recommendations for F5 Networks (NASDAQ:FFIV)

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