F5 Networks, Inc. (FFIV) Position Lifted by Balyasny Asset Management LLC
Balyasny Asset Management LLC increased its position in F5 Networks, Inc. (NASDAQ:FFIV) by 2,261.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 280,713 shares of the network technology company’s stock after buying an additional 268,825 shares during the period. Balyasny Asset Management LLC owned about 0.44% of F5 Networks worth $35,667,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. HighVista Strategies LLC bought a new position in F5 Networks in the 2nd quarter worth $470,000. Stifel Financial Corp boosted its holdings in F5 Networks by 3.9% in the 2nd quarter. Stifel Financial Corp now owns 59,111 shares of the network technology company’s stock worth $7,508,000 after buying an additional 2,232 shares during the period. Legg Mason Asset Management Japan Co. Ltd. bought a new position in F5 Networks in the 2nd quarter worth $814,000. OxFORD Asset Management LLP boosted its holdings in F5 Networks by 80.6% in the 2nd quarter. OxFORD Asset Management LLP now owns 66,152 shares of the network technology company’s stock worth $8,405,000 after buying an additional 29,514 shares during the period. Finally, Epoch Investment Partners Inc. boosted its holdings in F5 Networks by 9.3% in the 2nd quarter. Epoch Investment Partners Inc. now owns 1,450,142 shares of the network technology company’s stock worth $184,254,000 after buying an additional 123,489 shares during the period. 96.50% of the stock is owned by institutional investors.
F5 Networks, Inc. (FFIV) traded down 0.72% during mid-day trading on Friday, reaching $120.56. 798,811 shares of the company were exchanged. F5 Networks, Inc. has a 1-year low of $114.45 and a 1-year high of $149.50. The company has a 50 day moving average of $117.74 and a 200-day moving average of $129.05. The company has a market capitalization of $7.66 billion, a price-to-earnings ratio of 20.02 and a beta of 1.16.
F5 Networks (NASDAQ:FFIV) last posted its earnings results on Wednesday, July 26th. The network technology company reported $2.03 earnings per share for the quarter, meeting the consensus estimate of $2.03. The company had revenue of $517.80 million for the quarter, compared to analyst estimates of $525.57 million. F5 Networks had a net margin of 18.96% and a return on equity of 33.85%. F5 Networks’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.81 EPS. On average, equities research analysts forecast that F5 Networks, Inc. will post $8.17 EPS for the current year.
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Several research firms have commented on FFIV. Wells Fargo & Company downgraded shares of F5 Networks from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $145.00 to $120.00 in a report on Thursday, July 27th. Piper Jaffray Companies dropped their price objective on shares of F5 Networks to $121.00 and set a “neutral” rating for the company in a report on Thursday, July 27th. Jefferies Group LLC reissued a “hold” rating and set a $130.00 price objective on shares of F5 Networks in a report on Friday, June 16th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of F5 Networks in a report on Tuesday, September 12th. Finally, CIBC reissued a “market perform” rating on shares of F5 Networks in a report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $130.81.
In other F5 Networks news, COO Edward Julian Eames sold 4,378 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $120.63, for a total value of $528,118.14. Following the transaction, the chief operating officer now directly owns 35,088 shares in the company, valued at approximately $4,232,665.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Francois Locoh-Donou sold 2,029 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $119.61, for a total transaction of $242,688.69. Following the completion of the transaction, the chief executive officer now owns 2,636 shares in the company, valued at $315,291.96. The disclosure for this sale can be found here. Insiders sold a total of 22,312 shares of company stock worth $2,675,607 over the last quarter. 0.26% of the stock is currently owned by company insiders.
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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