Ameriprise Financial Inc. Increases Holdings in F5 Networks, Inc. (FFIV)
Ameriprise Financial Inc. boosted its holdings in shares of F5 Networks, Inc. (NASDAQ:FFIV) by 25.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,002,305 shares of the network technology company’s stock after acquiring an additional 206,385 shares during the period. Ameriprise Financial Inc. owned about 1.58% of F5 Networks worth $127,356,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in FFIV. BlackRock Inc. raised its position in F5 Networks by 2,108.1% during the first quarter. BlackRock Inc. now owns 4,404,873 shares of the network technology company’s stock worth $628,003,000 after acquiring an additional 4,205,384 shares during the last quarter. Morgan Stanley grew its holdings in shares of F5 Networks by 171.1% during 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. grew its holdings in shares of F5 Networks by 3,947.5% during 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. grew its holdings in shares of F5 Networks by 20.7% during the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,126,723 shares of the network technology company’s stock worth $143,161,000 after buying an additional 193,227 shares in the last quarter. Finally, Capital Fund Management S.A. grew its holdings in shares of F5 Networks by 472.6% during the second quarter. Capital Fund Management S.A. now owns 208,950 shares of the network technology company’s stock worth $26,549,000 after buying an additional 172,456 shares in the last quarter. Institutional investors own 96.45% of the company’s stock.
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A number of equities research analysts have recently commented on FFIV shares. Zacks Investment Research downgraded shares of F5 Networks from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Jefferies Group LLC reiterated a “hold” rating and set a $124.00 price target on shares of F5 Networks in a report on Thursday, August 31st. Piper Jaffray Companies downgraded shares of F5 Networks from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $144.00 to $136.00 in a report on Friday, July 14th. Royal Bank Of Canada reiterated a “hold” rating and set a $132.00 price target on shares of F5 Networks in a report on Monday, May 29th. Finally, Drexel Hamilton reiterated a “buy” rating and set a $160.00 price target on shares of F5 Networks in a report on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $130.81.
In other news, CFO Andrew Reinland sold 6,215 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $120.27, for a total value of $747,478.05. Following the transaction, the chief financial officer now owns 20,601 shares in the company, valued at approximately $2,477,682.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Benjamin Gibson sold 3,262 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $117.25, for a total value of $382,469.50. Following the completion of the transaction, the executive vice president now owns 815 shares in the company, valued at approximately $95,558.75. The disclosure for this sale can be found here. Insiders sold a total of 22,312 shares of company stock worth $2,675,607 in the last quarter. 0.26% of the stock is owned by corporate insiders.
Shares of F5 Networks, Inc. (NASDAQ FFIV) opened at 116.62 on Friday. The company has a 50-day moving average of $117.99 and a 200-day moving average of $129.63. F5 Networks, Inc. has a 12-month low of $114.45 and a 12-month high of $149.50. The stock has a market capitalization of $7.41 billion, a P/E ratio of 19.37 and a beta of 1.16.
F5 Networks (NASDAQ:FFIV) last posted its quarterly earnings data on Wednesday, July 26th. The network technology company reported $2.03 EPS for the quarter, meeting analysts’ consensus estimates 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 analyst estimates of $525.57 million. During the same period in the prior year, the firm earned $1.81 earnings per share. The business’s quarterly revenue was up 4.3% on a year-over-year basis. Equities analysts expect that F5 Networks, Inc. will post $8.17 earnings per share for the current fiscal year.
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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