LSV Asset Management Has $33.92 Million Position in F5 Networks, Inc. (FFIV)
LSV Asset Management boosted its stake in F5 Networks, Inc. (NASDAQ:FFIV) by 85.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 266,996 shares of the network technology company’s stock after purchasing an additional 123,100 shares during the quarter. LSV Asset Management owned about 0.42% of F5 Networks worth $33,924,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Sei Investments Co. grew its position in 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 acquiring an additional 230 shares during the last quarter. OppenheimerFunds Inc. grew its position in 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 acquiring an additional 98 shares during the last quarter. Soros Fund Management LLC bought a new position in F5 Networks in the first quarter valued at about $385,000. American Beacon Advisors Inc. bought a new position in F5 Networks in the first quarter valued at about $153,000. Finally, Oppenheimer Asset Management Inc. grew its position in F5 Networks by 18.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 21,037 shares of the network technology company’s stock valued at $2,673,000 after acquiring an additional 3,234 shares during the last quarter. 96.45% of the stock is owned by institutional investors and hedge funds.
FFIV has been the topic of a number of recent analyst reports. Zacks Investment Research cut F5 Networks from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Drexel Hamilton reiterated a “buy” rating and issued a $160.00 target price on shares of F5 Networks in a research report on Friday, July 21st. Piper Jaffray Companies cut F5 Networks from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $144.00 to $136.00 in a research report on Friday, July 14th. Oppenheimer Holdings, Inc. cut F5 Networks from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $145.00 to $120.00 in a research report on Thursday, July 27th. Finally, Robert W. Baird reiterated a “hold” rating on shares of F5 Networks in a research report on Thursday, July 27th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $130.81.
F5 Networks, Inc. (NASDAQ:FFIV) opened at 115.56 on Monday. F5 Networks, Inc. has a 1-year low of $114.45 and a 1-year high of $149.50. The company has a 50 day moving average price of $119.24 and a 200-day moving average price of $130.61. The firm has a market capitalization of $7.34 billion, a price-to-earnings ratio of 19.19 and a beta of 1.16.
F5 Networks (NASDAQ:FFIV) last posted its quarterly earnings results on Wednesday, July 26th. The network technology company reported $2.03 earnings per share (EPS) for the quarter, hitting the 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 analyst estimates of $525.57 million. During the same period last year, the company earned $1.81 EPS. F5 Networks’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, analysts forecast that F5 Networks, Inc. will post $8.17 EPS for the current fiscal year.
In related news, EVP Benjamin Gibson sold 3,262 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $117.25, for a total transaction of $382,469.50. Following the transaction, the executive vice president now directly owns 815 shares in the company, valued at approximately $95,558.75. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Edward Julian Eames sold 4,378 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $120.63, for a total value of $528,118.14. Following the transaction, the chief operating officer now owns 35,088 shares in the company, valued at $4,232,665.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,312 shares of company stock worth $2,675,607. 0.26% of the stock is owned by corporate insiders.
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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