F5 Networks, Inc. (FFIV) Shares Sold by Advisor Group Inc.
Advisor Group Inc. lessened its position in shares of F5 Networks, Inc. (NASDAQ:FFIV) by 4.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,646 shares of the network technology company’s stock after selling 658 shares during the period. Advisor Group Inc.’s holdings in F5 Networks were worth $1,525,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of FFIV. Koch Industries Inc. bought a new stake in shares of F5 Networks during the second quarter worth approximately $832,000. Janus Henderson Group PLC boosted its stake in shares of F5 Networks by 424.5% in the second quarter. Janus Henderson Group PLC now owns 748,290 shares of the network technology company’s stock valued at $95,081,000 after buying an additional 605,629 shares during the period. APG Asset Management N.V. boosted its stake in shares of F5 Networks by 65.7% in the third quarter. APG Asset Management N.V. now owns 1,116,349 shares of the network technology company’s stock valued at $134,587,000 after buying an additional 442,600 shares during the period. FMR LLC boosted its stake in shares of F5 Networks by 30.7% in the second quarter. FMR LLC now owns 1,185,212 shares of the network technology company’s stock valued at $150,592,000 after buying an additional 278,682 shares during the period. Finally, Old Mutual Global Investors UK Ltd. boosted its stake in shares of F5 Networks by 24.4% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 1,401,720 shares of the network technology company’s stock valued at $168,991,000 after buying an additional 274,997 shares during the period. Institutional investors own 98.52% of the company’s stock.
In related news, EVP Edward Julian Eames sold 15,336 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $121.06, for a total value of $1,856,576.16. Following the sale, the executive vice president now owns 43,824 shares in the company, valued at approximately $5,305,333.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Francois Locoh-Donou sold 1,714 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $119.87, for a total transaction of $205,457.18. Following the completion of the sale, the chief executive officer now owns 2,119 shares in the company, valued at approximately $254,004.53. The disclosure for this sale can be found here. Insiders have sold a total of 38,974 shares of company stock worth $4,698,814 in the last three months. Insiders own 0.26% of the company’s stock.
FFIV has been the subject of several recent research reports. Standpoint Research initiated coverage on F5 Networks in a research note on Monday, October 2nd. They issued an “accumulate” rating and a $160.00 price target for the company. Drexel Hamilton reiterated a “buy” rating and issued a $160.00 price target on shares of F5 Networks in a research note on Friday, July 21st. Cowen and Company reiterated a “buy” rating and issued a $140.00 price target on shares of F5 Networks in a research note on Friday, October 27th. Morgan Stanley cut their price target on F5 Networks from $130.00 to $120.00 and set an “equal weight” rating for the company in a research note on Monday, October 9th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of F5 Networks in a research note on Tuesday, September 12th. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $126.76.
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F5 Networks, Inc. (NASDAQ:FFIV) opened at $123.58 on Friday. The stock has a market cap of $7,760.00, a PE ratio of 18.74, a PEG ratio of 1.93 and a beta of 1.01. F5 Networks, Inc. has a 1 year low of $114.63 and a 1 year high of $149.50.
F5 Networks (NASDAQ:FFIV) last released its quarterly earnings data on Wednesday, October 25th. The network technology company reported $2.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.20 by $0.24. The company had revenue of $538.00 million for the quarter, compared to analysts’ expectations of $534.71 million. F5 Networks had a net margin of 20.13% and a return on equity of 34.70%. The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.11 EPS. equities analysts anticipate that F5 Networks, Inc. will post 6.7 earnings per share for the current year.
F5 Networks announced that its board has authorized a share buyback program on Wednesday, October 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the network technology company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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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