Robert W. Baird Reaffirms Hold Rating for F5 Networks, Inc. (FFIV)
Several other brokerages have also recently commented on FFIV. Drexel Hamilton reissued a buy rating and issued a $160.00 price target on shares of F5 Networks in a research report on Friday, July 21st. Credit Suisse Group set a $138.00 price target on shares of F5 Networks and gave the company a hold rating in a research report on Thursday, April 20th. Morgan Stanley decreased their price target on shares of F5 Networks from $136.00 to $130.00 and set an equal weight rating for the company in a research report on Friday, April 28th. Cowen and Company reissued an outperform rating and issued a $145.00 price target on shares of F5 Networks in a research report on Monday, June 5th. Finally, Deutsche Bank AG cut shares of F5 Networks from a hold rating to a sell rating and decreased their price target for the company from $120.00 to $100.00 in a research report on Wednesday, March 29th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the company. F5 Networks has an average rating of Hold and an average price target of $132.00.
F5 Networks (NASDAQ:FFIV) last issued its quarterly earnings results on Wednesday, July 26th. The network technology company reported $2.03 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $2.03. F5 Networks had a net margin of 18.96% and a return on equity of 33.85%. The company had revenue of $517.80 million during the quarter, compared to analysts’ expectations of $525.57 million. During the same quarter last year, the company posted $1.81 EPS. The firm’s revenue was up 4.3% compared to the same quarter last 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 on Tuesday, May 2nd. The shares were sold at an average price of $127.62, for a total value of $436,460.40. Following the transaction, the executive vice president now directly owns 4,926 shares in the company, valued at $628,656.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John Mcadam sold 10,000 shares of F5 Networks stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $130.17, for a total transaction of $1,301,700.00. Following the completion of the transaction, the director now owns 66,953 shares in the company, valued at $8,715,272.01. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,655 shares of company stock worth $2,532,499. 0.26% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in 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 worth $628,003,000 after buying an additional 4,205,384 shares in the last quarter. Morgan Stanley raised its position in F5 Networks by 171.1% in the first quarter. Morgan Stanley now owns 829,117 shares of the network technology company’s stock worth $118,207,000 after buying an additional 523,250 shares in the last quarter. Bank of Montreal Can raised its position in 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 worth $248,809,000 after buying an additional 469,449 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in 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 worth $52,298,000 after buying an additional 357,758 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. raised its position in 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 worth $133,088,000 after buying an additional 216,959 shares in the last quarter. Institutional investors 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.
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