Fort L.P. Acquires Shares of 21,016 F5 Networks, Inc. (FFIV)
Fort L.P. acquired a new position in shares of F5 Networks, Inc. (NASDAQ:FFIV) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 21,016 shares of the network technology company’s stock, valued at approximately $2,670,000.
Other hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its position in shares of F5 Networks by 65.6% in the second quarter. IFP Advisors Inc now owns 959 shares of the network technology company’s stock valued at $122,000 after acquiring an additional 380 shares during the period. American Beacon Advisors Inc. bought a new stake in shares of F5 Networks in the first quarter valued at about $153,000. Van ECK Associates Corp boosted its position in shares of F5 Networks by 6.0% in the first quarter. Van ECK Associates Corp now owns 1,153 shares of the network technology company’s stock valued at $164,000 after acquiring an additional 65 shares during the period. Bronfman E.L. Rothschild L.P. boosted its position in shares of F5 Networks by 1.5% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,397 shares of the network technology company’s stock valued at $178,000 after acquiring an additional 21 shares during the period. Finally, Contravisory Investment Management Inc. boosted its position in shares of F5 Networks by 0.8% in the second quarter. Contravisory Investment Management Inc. now owns 1,846 shares of the network technology company’s stock valued at $235,000 after acquiring an additional 14 shares during the period. 96.50% of the stock is owned by hedge funds and other institutional investors.
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In other news, EVP Ryan C. Kearny sold 836 shares of F5 Networks stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $120.59, for a total transaction of $100,813.24. Following the completion of the sale, the executive vice president now owns 2,148 shares in the company, valued at approximately $259,027.32. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Alan Higginson sold 2,540 shares of F5 Networks stock in a transaction dated 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 of the company’s stock, valued at approximately $1,604,121.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,312 shares of company stock valued at $2,675,607. Corporate insiders own 0.26% of the company’s stock.
A number of equities research analysts have recently issued reports on FFIV shares. Zacks Investment Research cut shares of F5 Networks from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Jefferies Group LLC reissued a “hold” rating and issued a $124.00 target price on shares of F5 Networks in a research report on Thursday, August 31st. Piper Jaffray Companies cut shares of F5 Networks from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $144.00 to $136.00 in a research report on Friday, July 14th. Royal Bank Of Canada reissued a “hold” rating and issued a $132.00 target price on shares of F5 Networks in a research report on Monday, May 29th. Finally, Drexel Hamilton reissued a “buy” rating and issued a $160.00 target price on shares of F5 Networks in a research report on Friday, July 21st. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $130.81.
Shares of F5 Networks, Inc. (NASDAQ FFIV) traded up 0.26% on Monday, reaching $116.92. The company’s stock had a trading volume of 114,574 shares. F5 Networks, Inc. has a 12 month low of $114.45 and a 12 month high of $149.50. The stock has a market cap of $7.43 billion, a P/E ratio of 19.42 and a beta of 1.16. The firm’s 50-day moving average price is $117.99 and its 200-day moving average price is $129.63.
F5 Networks (NASDAQ:FFIV) last issued its quarterly earnings results on Wednesday, July 26th. The network technology company reported $2.03 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $2.03. The firm had revenue of $517.80 million during the quarter, compared to the consensus estimate of $525.57 million. F5 Networks had a return on equity of 33.85% and a net margin of 18.96%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the company posted $1.81 EPS. On average, analysts forecast that F5 Networks, Inc. will post $8.17 earnings per share for the current fiscal year.
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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