UBS Oconnor LLC Raises Stake in F5 Networks, Inc. (FFIV)
UBS Oconnor LLC grew its position in F5 Networks, Inc. (NASDAQ:FFIV) by 600.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,000 shares of the network technology company’s stock after buying an additional 30,000 shares during the quarter. UBS Oconnor LLC owned 0.06% of F5 Networks worth $4,447,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Investec Asset Management LTD grew 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 valued at $6,736,000 after buying an additional 13,306 shares in the last quarter. State of Tennessee Treasury Department grew 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 valued at $18,390,000 after buying an additional 8,875 shares in the last quarter. Sei Investments Co. grew 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 valued at $1,154,000 after buying an additional 230 shares in the last quarter. OppenheimerFunds Inc. grew 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 valued at $243,000 after buying an additional 98 shares in the last quarter. Finally, Soros Fund Management LLC acquired a new stake in shares of F5 Networks in the first quarter valued at $385,000. 96.50% of the stock is owned by institutional investors and hedge funds.
F5 Networks, Inc. (NASDAQ:FFIV) traded down 0.72% during trading on Friday, reaching $120.56. The company’s stock had a trading volume of 798,811 shares. The firm has a 50 day moving average of $117.74 and a 200 day moving average of $129.05. The stock has a market capitalization of $7.66 billion, a price-to-earnings ratio of 20.02 and a beta of 1.16. F5 Networks, Inc. has a 52 week low of $114.45 and a 52 week high of $149.50.
F5 Networks (NASDAQ:FFIV) last issued its earnings results on Wednesday, July 26th. The network technology company reported $2.03 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $2.03. F5 Networks had a net margin of 18.96% and a return on equity of 33.85%. The firm had revenue of $517.80 million for the quarter, compared to analysts’ expectations of $525.57 million. During the same quarter last year, the company posted $1.81 earnings per share. F5 Networks’s revenue was up 4.3% on a year-over-year basis. Analysts expect that F5 Networks, Inc. will post $8.17 EPS for the current year.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised F5 Networks from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Piper Jaffray Companies dropped their price objective on F5 Networks to $121.00 and set a “neutral” rating for the company in a research note on Thursday, July 27th. BMO Capital Markets reiterated an “outperform” rating and issued a $124.00 target price (down from $132.00) on shares of F5 Networks in a report on Thursday, July 27th. CIBC reiterated a “market perform” rating on shares of F5 Networks in a report on Thursday, July 27th. Finally, Barclays PLC decreased their target price on F5 Networks from $124.00 to $116.00 and set an “overweight” rating for the company in a report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company’s stock. F5 Networks currently has an average rating of “Hold” and a consensus target price of $130.81.
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In other F5 Networks news, Director Alan Higginson sold 2,540 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $120.52, for a total value of $306,120.80. Following the sale, the director now owns 13,310 shares in the company, valued at $1,604,121.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Francois Locoh-Donou sold 2,029 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 2,636 shares in the company, valued at approximately $315,291.96. The disclosure for this sale can be found here. Insiders sold 22,312 shares of company stock worth $2,675,607 in the last 90 days. 0.26% of the stock is 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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