Los Angeles Capital Management & Equity Research Inc. Increases Holdings in F5 Networks, Inc. (FFIV)
Los Angeles Capital Management & Equity Research Inc. boosted its position in F5 Networks, Inc. (NASDAQ:FFIV) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 425,603 shares of the network technology company’s stock after purchasing an additional 4,628 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned about 0.68% of F5 Networks worth $51,311,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in FFIV. Investec Asset Management LTD raised its stake in shares of F5 Networks by 33.5% in the second quarter. Investec Asset Management LTD now owns 53,012 shares of the network technology company’s stock worth $6,736,000 after buying an additional 13,306 shares during the period. State of Tennessee Treasury Department raised its stake in shares of F5 Networks by 6.5% in the second quarter. State of Tennessee Treasury Department now owns 144,733 shares of the network technology company’s stock worth $18,390,000 after buying an additional 8,875 shares during the period. Sei Investments Co. raised its stake in shares of F5 Networks by 2.6% in the second quarter. Sei Investments Co. now owns 9,085 shares of the network technology company’s stock worth $1,154,000 after buying an additional 230 shares during the period. Koch Industries Inc. bought a new position in shares of F5 Networks in the second quarter worth about $832,000. Finally, OppenheimerFunds Inc. raised its stake in shares of F5 Networks by 6.1% in the first quarter. OppenheimerFunds Inc. now owns 1,705 shares of the network technology company’s stock worth $243,000 after buying an additional 98 shares during the period. 98.52% of the stock is currently owned by institutional investors and hedge funds.
Shares of F5 Networks, Inc. (NASDAQ FFIV) traded up $1.14 during trading on Tuesday, hitting $120.85. The stock had a trading volume of 503,800 shares, compared to its average volume of 789,519. The stock has a market cap of $7,493.07, a PE ratio of 18.50, a price-to-earnings-growth ratio of 1.90 and a beta of 1.01. F5 Networks, Inc. has a 12-month low of $114.63 and a 12-month high of $149.50.
F5 Networks (NASDAQ:FFIV) last posted its quarterly earnings data on Wednesday, October 25th. The network technology company reported $2.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.20 by $0.24. F5 Networks had a return on equity of 34.70% and a net margin of 20.13%. The company had revenue of $538.00 million during the quarter, compared to analysts’ expectations of $534.71 million. During the same quarter in the previous year, the business earned $2.11 EPS. F5 Networks’s revenue was up 2.4% compared to the same quarter last year. equities analysts anticipate that F5 Networks, Inc. will post 6.7 earnings per share for the current fiscal year.
F5 Networks declared that its board has initiated a share buyback plan on Wednesday, October 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the network technology company to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
Several research firms have recently commented on FFIV. Cowen and Company reaffirmed a “buy” rating and issued a $140.00 price objective on shares of F5 Networks in a research note on Friday, October 27th. Nomura decreased their price objective on F5 Networks from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, October 26th. Barclays PLC decreased their target price on F5 Networks from $116.00 to $111.00 and set an “overweight” rating on the stock in a research note on Thursday, October 26th. BMO Capital Markets decreased their target price on F5 Networks from $124.00 to $122.00 and set a “market perform” rating on the stock in a research note on Thursday, October 26th. Finally, Robert W. Baird reissued a “hold” rating and set a $120.00 target price on shares of F5 Networks in a research note on Thursday, October 26th. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and three have given a buy rating to the company. F5 Networks has an average rating of “Hold” and a consensus target price of $126.76.
In related news, CEO Francois Locoh-Donou sold 1,714 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $119.87, for a total transaction of $205,457.18. Following the completion of the transaction, the chief executive officer now owns 2,119 shares in the company, valued at approximately $254,004.53. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Edward Julian Eames sold 15,336 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $121.06, for a total value of $1,856,576.16. Following the transaction, the executive vice president now owns 43,824 shares of the company’s stock, valued at approximately $5,305,333.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,974 shares of company stock valued at $4,698,814. 0.26% of the stock is owned by company insiders.
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F5 Networks 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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