F5 Networks (NASDAQ:FFIV) Rating Lowered to Neutral at Credit Suisse Group
F5 Networks (NASDAQ:FFIV) was downgraded by equities researchers at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, Briefing.com reports. They currently have a $207.00 price objective on the network technology company’s stock. Credit Suisse Group’s target price indicates a potential downside of 1.85% from the stock’s current price.
FFIV has been the topic of a number of other research reports. Morgan Stanley increased their price objective on shares of F5 Networks from $205.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 27th. Cowen increased their price objective on F5 Networks from $223.00 to $255.00 and gave the stock an “outperform” rating in a research note on Monday, January 25th. Needham & Company LLC lifted their target price on F5 Networks from $235.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, January 27th. Smith Barney Citigroup increased their price target on F5 Networks from $165.00 to $190.00 in a research report on Friday, January 8th. Finally, Royal Bank of Canada lifted their price objective on shares of F5 Networks from $182.00 to $200.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $195.78.
Shares of FFIV opened at $210.90 on Thursday. The company has a market capitalization of $13.00 billion, a PE ratio of 42.01, a PEG ratio of 2.33 and a beta of 1.13. The stock’s 50-day moving average price is $199.25 and its two-hundred day moving average price is $172.17. The company has a current ratio of 1.39, a quick ratio of 1.37 and a debt-to-equity ratio of 0.17. F5 Networks has a 12 month low of $116.79 and a 12 month high of $216.15.
In related news, EVP Thomas Dean Fountain sold 1,978 shares of the stock in a transaction on Monday, March 15th. The shares were sold at an average price of $195.03, for a total transaction of $385,769.34. Following the transaction, the executive vice president now owns 14,957 shares of the company’s stock, valued at approximately $2,917,063.71. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Alan Higginson sold 1,633 shares of F5 Networks stock in a transaction on Friday, February 19th. The stock was sold at an average price of $199.01, for a total transaction of $324,983.33. Following the completion of the transaction, the director now owns 9,840 shares in the company, valued at approximately $1,958,258.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,194 shares of company stock worth $3,620,367. Insiders own 0.34% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of FFIV. Chiron Capital Management LLC bought a new position in shares of F5 Networks during the third quarter valued at about $37,000. JJJ Advisors Inc. grew its position in F5 Networks by 191.7% during the 4th quarter. JJJ Advisors Inc. now owns 210 shares of the network technology company’s stock worth $37,000 after acquiring an additional 138 shares during the last quarter. Regent Peak Wealth Advisors LLC purchased a new position in F5 Networks in the 4th quarter worth approximately $50,000. IFP Advisors Inc increased its stake in F5 Networks by 47.4% in the 4th quarter. IFP Advisors Inc now owns 308 shares of the network technology company’s stock worth $53,000 after purchasing an additional 99 shares during the period. Finally, Sowell Financial Services LLC lifted its position in F5 Networks by 261.0% in the fourth quarter. Sowell Financial Services LLC now owns 444 shares of the network technology company’s stock valued at $78,000 after purchasing an additional 321 shares during the last quarter. Institutional investors and hedge funds own 90.69% of the company’s stock.
F5 Networks Company Profile
F5 Networks, Inc provides multi-cloud application services for the security, performance, and availability of network applications, servers, and storage systems. The company's multi-cloud application services enable its customers to develop, deploy, operate, secure, and govern applications in any architecture, from on-premises to the public cloud.
Further Reading: What sectors are represented in the Nikkei Index?
Receive News & Ratings for F5 Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for F5 Networks and related companies with MarketBeat.com's FREE daily email newsletter.