Consolidated Investment Group LLC boosted its stake in F5 Networks, Inc. (NASDAQ:FFIV) by 17.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,994 shares of the network technology company’s stock after buying an additional 3,200 shares during the period. F5 Networks accounts for about 1.5% of Consolidated Investment Group LLC’s portfolio, making the stock its 27th largest position. Consolidated Investment Group LLC’s holdings in F5 Networks were worth $2,795,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of FFIV. IFP Advisors Inc raised its position in F5 Networks by 65.6% in the second quarter. IFP Advisors Inc now owns 959 shares of the network technology company’s stock worth $122,000 after buying an additional 380 shares in the last quarter. American Beacon Advisors Inc. purchased a new stake in F5 Networks during the first quarter worth approximately $153,000. Van ECK Associates Corp increased 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 worth $164,000 after buying an additional 65 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in F5 Networks by 5.1% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,376 shares of the network technology company’s stock worth $196,000 after buying an additional 67 shares in the last quarter. Finally, First Bank & Trust increased its stake in F5 Networks by 0.3% in the first quarter. First Bank & Trust now owns 1,630 shares of the network technology company’s stock worth $232,000 after buying an additional 5 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.
F5 Networks, Inc. (NASDAQ FFIV) traded down 1.13% during midday trading on Friday, hitting $116.48. 471,347 shares of the stock were exchanged. F5 Networks, Inc. has a 1-year low of $114.45 and a 1-year high of $149.50. The firm’s 50-day moving average price is $123.36 and its 200 day moving average price is $132.76. The firm has a market capitalization of $7.40 billion, a P/E ratio of 19.35 and a beta of 1.16.
F5 Networks (NASDAQ:FFIV) last posted its earnings results on Wednesday, July 26th. The network technology company reported $2.03 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $2.03. F5 Networks had a net margin of 18.96% and a return on equity of 33.85%. The business had revenue of $517.80 million for the quarter, compared to analysts’ expectations of $525.57 million. During the same period in the prior year, the company posted $1.81 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. Analysts expect that F5 Networks, Inc. will post $8.17 earnings per share for the current fiscal year.
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A number of brokerages recently issued reports on FFIV. Wells Fargo & Company cut F5 Networks from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $145.00 to $120.00 in a report on Thursday, July 27th. Jefferies Group LLC reiterated a “hold” rating and set a $130.00 price target on shares of F5 Networks in a report on Friday, June 16th. Piper Jaffray Companies lowered their price target on F5 Networks to $121.00 and set a “neutral” rating on the stock in a report on Thursday, July 27th. Cowen and Company reiterated an “outperform” rating and set a $145.00 price target on shares of F5 Networks in a report on Monday, June 5th. Finally, Royal Bank Of Canada lowered their price target on F5 Networks from $137.00 to $132.00 and set a “sector perform” rating on the stock in a report on Thursday, April 27th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $131.19.
In other F5 Networks news, EVP Ryan C. Kearny sold 836 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $120.59, for a total value of $100,813.24. Following the sale, the executive vice president now owns 2,148 shares of the company’s stock, valued at approximately $259,027.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Edward Julian Eames sold 4,378 shares of F5 Networks stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $120.63, for a total transaction of $528,118.14. Following the sale, the chief operating officer now directly owns 35,088 shares in the company, valued at approximately $4,232,665.44. The disclosure for this sale can be found here. Insiders sold a total of 19,050 shares of company stock worth $2,293,138 over the last quarter. Corporate insiders own 0.26% of the company’s stock.
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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