Addenda Capital Inc. Has $5.24 Million Stake in F5 Networks, Inc. (FFIV)
Addenda Capital Inc. cut its stake in F5 Networks, Inc. (NASDAQ:FFIV) by 4.1% during the second quarter, Holdings Channel reports. The fund owned 41,212 shares of the network technology company’s stock after selling 1,759 shares during the period. Addenda Capital Inc.’s holdings in F5 Networks were worth $5,236,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of 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 stake in shares of 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. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of 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. Old Mutual Global Investors UK Ltd. raised its stake in shares of 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. Finally, Vanguard Group Inc. raised its stake in shares of F5 Networks by 2.7% in the first quarter. Vanguard Group Inc. now owns 6,400,279 shares of the network technology company’s stock worth $912,487,000 after buying an additional 168,528 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.
Shares of F5 Networks, Inc. (NASDAQ:FFIV) opened at 117.81 on Friday. The firm has a market capitalization of $7.49 billion, a P/E ratio of 19.57 and a beta of 1.16. F5 Networks, Inc. has a 12 month low of $114.45 and a 12 month high of $149.50. The company has a 50 day moving average of $123.67 and a 200-day moving average of $132.89.
F5 Networks (NASDAQ:FFIV) last announced its 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 return on equity of 33.85% and a net margin of 18.96%. The business had revenue of $517.80 million for the quarter, compared to analysts’ expectations of $525.57 million. During the same period in the prior year, the business posted $1.81 earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. Analysts predict that F5 Networks, Inc. will post $8.17 EPS for the current year.
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A number of equities research analysts have commented on FFIV shares. Robert W. Baird reissued a “hold” rating on shares of F5 Networks in a report on Thursday, July 27th. BMO Capital Markets reissued an “outperform” rating and set a $124.00 price objective (down previously from $132.00) on shares of F5 Networks in a report on Thursday, July 27th. Drexel Hamilton reissued a “buy” rating and set a $160.00 price objective on shares of F5 Networks in a report on Friday, July 21st. Morgan Stanley decreased their price objective on shares of F5 Networks from $136.00 to $130.00 and set an “equal weight” rating on the stock in a report on Friday, April 28th. Finally, Credit Suisse Group set a $138.00 price objective on shares of F5 Networks and gave the stock a “hold” rating in a report on Thursday, April 20th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company’s stock. F5 Networks currently has an average rating of “Hold” and an average target price of $131.19.
In related news, CEO Francois Locoh-Donou sold 2,029 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $119.61, for a total value of $242,688.69. Following the sale, the chief executive officer now directly owns 2,636 shares in the company, valued at $315,291.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew Reinland sold 6,215 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $120.27, for a total value of $747,478.05. Following the completion of the sale, the chief financial officer now owns 20,601 shares in the company, valued at $2,477,682.27. The disclosure for this sale can be found here. Insiders sold 19,050 shares of company stock worth $2,293,138 over the last quarter. 0.26% of the stock is currently owned by company insiders.
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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