Bank of Nova Scotia cut its stake in shares of F5 Networks, Inc. (NASDAQ:FFIV) by 1.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,622 shares of the network technology company’s stock after selling 206 shares during the period. Bank of Nova Scotia’s holdings in F5 Networks were worth $1,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the business. Contravisory Investment Management Inc. raised its position in F5 Networks by 0.8% during the second quarter. Contravisory Investment Management Inc. now owns 1,846 shares of the network technology company’s stock valued at $235,000 after purchasing an additional 14 shares during the period. Bronfman E.L. Rothschild L.P. raised its position in F5 Networks by 1.5% during 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 purchasing an additional 21 shares during the period. Intrust Bank NA raised its position in F5 Networks by 1.1% during the second quarter. Intrust Bank NA now owns 4,590 shares of the network technology company’s stock valued at $584,000 after purchasing an additional 50 shares during the period. Synovus Financial Corp raised its position in F5 Networks by 4.5% during the second quarter. Synovus Financial Corp now owns 1,851 shares of the network technology company’s stock valued at $241,000 after purchasing an additional 79 shares during the period. Finally, MAI Capital Management raised its position in F5 Networks by 1.2% during the second quarter. MAI Capital Management now owns 6,906 shares of the network technology company’s stock valued at $877,000 after purchasing an additional 80 shares during the period. Institutional investors and hedge funds own 96.25% of the company’s stock.

FFIV has been the topic of a number of recent research reports. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of F5 Networks in a research report on Tuesday, September 12th. Robert W. Baird reiterated a “hold” rating on shares of F5 Networks in a report on Thursday, July 27th. Royal Bank Of Canada reiterated a “hold” rating and issued a $129.00 price target on shares of F5 Networks in a report on Tuesday, October 10th. BMO Capital Markets reiterated an “outperform” rating and issued a $124.00 price target (down from $132.00) on shares of F5 Networks in a report on Thursday, July 27th. Finally, Drexel Hamilton reiterated a “buy” rating and issued a $160.00 price target on shares of F5 Networks in a report on Friday, July 21st. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $128.06.

Shares of F5 Networks, Inc. (FFIV) opened at 119.48 on Friday. The firm’s 50-day moving average price is $117.81 and its 200 day moving average price is $124.88. F5 Networks, Inc. has a 12 month low of $114.63 and a 12 month high of $149.50. The company has a market cap of $7.59 billion, a PE ratio of 19.84 and a beta of 1.14.

F5 Networks (NASDAQ:FFIV) last posted its quarterly earnings data on Wednesday, July 26th. The network technology company reported $2.03 earnings per share for the quarter, hitting analysts’ consensus estimates 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 quarter in the prior year, the company earned $1.81 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. Equities research analysts anticipate that F5 Networks, Inc. will post $8.17 earnings per share for the current fiscal year.

In other news, COO Edward Julian Eames sold 4,378 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $120.63, for a total transaction of $528,118.14. Following the sale, the chief operating officer now owns 35,088 shares of the company’s stock, valued at $4,232,665.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andrew Reinland sold 6,215 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $120.27, for a total value of $747,478.05. Following the sale, the chief financial officer now directly owns 20,601 shares in the company, valued at approximately $2,477,682.27. The disclosure for this sale can be found here. Insiders have sold 22,312 shares of company stock worth $2,675,607 in the last ninety days. Corporate insiders own 0.26% of the company’s stock.

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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.

Institutional Ownership by Quarter for F5 Networks (NASDAQ:FFIV)

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