Profund Advisors LLC Raises Holdings in F5 Networks, Inc. (FFIV)
Profund Advisors LLC raised its stake in F5 Networks, Inc. (NASDAQ:FFIV) by 16.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,175 shares of the network technology company’s stock after acquiring an additional 310 shares during the period. Profund Advisors LLC’s holdings in F5 Networks were worth $276,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of FFIV. IFP Advisors Inc boosted its stake in 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. acquired a new position in F5 Networks in the first quarter valued at approximately $153,000. Van ECK Associates Corp boosted its stake in 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 stake in 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 stake in 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. Institutional investors own 96.50% of the company’s stock.
Several brokerages have recently issued reports on FFIV. Zacks Investment Research upgraded F5 Networks from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Jefferies Group LLC reiterated a “hold” rating and set a $124.00 price objective on shares of F5 Networks in a research report on Thursday, August 31st. Piper Jaffray Companies downgraded F5 Networks from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $144.00 to $136.00 in a research report on Friday, July 14th. Robert W. Baird reiterated a “hold” rating and set a $125.00 price objective on shares of F5 Networks in a research report on Wednesday, October 4th. Finally, Drexel Hamilton reiterated a “buy” rating and set a $160.00 price objective on shares of F5 Networks in a research report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the stock. F5 Networks presently has a consensus rating of “Hold” and a consensus target price of $128.94.
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In other F5 Networks news, 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 value of $242,688.69. Following the transaction, the chief executive officer now directly owns 2,636 shares of the company’s stock, valued at $315,291.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Benjamin Gibson sold 3,262 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $117.25, for a total transaction of $382,469.50. Following the completion of the transaction, the executive vice president now directly owns 815 shares in the company, valued at $95,558.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,312 shares of company stock worth $2,675,607. Insiders own 0.26% of the company’s stock.
F5 Networks, Inc. (FFIV) opened at 116.40 on Wednesday. F5 Networks, Inc. has a 12-month low of $114.45 and a 12-month high of $149.50. The firm has a 50 day moving average price of $118.02 and a 200 day moving average price of $126.17. The company has a market cap of $7.40 billion, a PE ratio of 19.33 and a beta of 1.14.
F5 Networks (NASDAQ:FFIV) last announced its quarterly earnings data on Wednesday, July 26th. The network technology company reported $2.03 earnings per share (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 firm had revenue of $517.80 million for the quarter, compared to analysts’ expectations of $525.57 million. During the same period last year, the firm earned $1.81 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, analysts anticipate that F5 Networks, Inc. will post $8.17 earnings per share for the current fiscal year.
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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