F5 Networks, Inc. (FFIV) Position Reduced by Voya Investment Management LLC
Voya Investment Management LLC cut its holdings in F5 Networks, Inc. (NASDAQ:FFIV) by 7.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,781 shares of the network technology company’s stock after selling 2,897 shares during the period. Voya Investment Management LLC’s holdings in F5 Networks were worth $5,998,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. LSV Asset Management lifted its holdings in F5 Networks by 4.4% in the second quarter. LSV Asset Management now owns 854,194 shares of the network technology company’s stock valued at $147,305,000 after acquiring an additional 36,068 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in F5 Networks by 2.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 377,891 shares of the network technology company’s stock valued at $65,168,000 after acquiring an additional 9,892 shares during the last quarter. Smith Asset Management Group LP lifted its holdings in F5 Networks by 5.0% in the second quarter. Smith Asset Management Group LP now owns 345,684 shares of the network technology company’s stock valued at $64,931,000 after acquiring an additional 16,429 shares during the last quarter. Unigestion Holding SA acquired a new position in F5 Networks in the second quarter valued at approximately $33,965,000. Finally, CIBC Asset Management Inc lifted its holdings in F5 Networks by 6.6% in the second quarter. CIBC Asset Management Inc now owns 8,383 shares of the network technology company’s stock valued at $1,446,000 after acquiring an additional 518 shares during the last quarter. Hedge funds and other institutional investors own 99.99% of the company’s stock.
In other news, Director Michael L. Dreyer sold 5,679 shares of the company’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $183.03, for a total transaction of $1,039,427.37. Following the sale, the director now owns 5,679 shares of the company’s stock, valued at $1,039,427.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Francois Locoh-Donou sold 3,332 shares of the company’s stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $168.99, for a total value of $563,074.68. Following the sale, the chief executive officer now directly owns 15,080 shares in the company, valued at approximately $2,548,369.20. The disclosure for this sale can be found here. Insiders have sold 17,327 shares of company stock worth $3,026,072 in the last ninety days. Corporate insiders own 0.30% of the company’s stock.
F5 Networks (NASDAQ:FFIV) last posted its quarterly earnings data on Wednesday, July 25th. The network technology company reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.39 by $0.05. F5 Networks had a return on equity of 38.57% and a net margin of 21.37%. The business had revenue of $542.20 million for the quarter, compared to analyst estimates of $540.59 million. During the same quarter in the prior year, the company earned $2.03 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. equities research analysts expect that F5 Networks, Inc. will post 7.64 EPS for the current year.
A number of research firms recently commented on FFIV. BidaskClub upgraded F5 Networks from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 28th. JPMorgan Chase & Co. set a $211.00 target price on F5 Networks and gave the company a “buy” rating in a research report on Thursday, July 5th. Credit Suisse Group set a $188.00 target price on F5 Networks and gave the company a “buy” rating in a research report on Friday, June 29th. MKM Partners boosted their target price on F5 Networks to $178.00 and gave the company a “neutral” rating in a research report on Thursday, July 26th. Finally, Citigroup lowered F5 Networks from a “buy” rating to a “neutral” rating and boosted their target price for the company from $170.00 to $190.00 in a research report on Monday, June 18th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $166.16.
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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