ING Groep NV cut its position in shares of F5 Networks Inc. (NASDAQ:FFIV) by 33.4% during the second quarter, Holdings Channel reports. The firm owned 3,122 shares of the network technology company’s stock after selling 1,568 shares during the period. ING Groep NV’s holdings in F5 Networks were worth $355,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. IFP Advisors Inc raised its position in F5 Networks by 23.1% in the first quarter. IFP Advisors Inc now owns 948 shares of the network technology company’s stock valued at $100,000 after buying an additional 178 shares during the last quarter. JFS Wealth Advisors LLC purchased a new stake in F5 Networks during the second quarter valued at about $137,000. Invictus RG increased its stake in F5 Networks by 620.0% in the first quarter. Invictus RG now owns 1,440 shares of the network technology company’s stock valued at $152,000 after buying an additional 1,240 shares during the period. Conning Inc. purchased a new stake in F5 Networks during the second quarter valued at about $207,000. Finally, Ferguson Wellman Capital Management Inc. purchased a new stake in F5 Networks during the second quarter valued at about $228,000. Institutional investors own 94.78% of the company’s stock.
Shares of F5 Networks Inc. (NASDAQ:FFIV) traded down 3.29% during midday trading on Wednesday, hitting $117.80. 1,033,890 shares of the company were exchanged. The company has a 50-day moving average of $122.07 and a 200 day moving average of $114.67. The company has a market capitalization of $7.80 billion, a P/E ratio of 23.03 and a beta of 1.96. F5 Networks Inc. has a one year low of $86.03 and a one year high of $127.13.
F5 Networks (NASDAQ:FFIV) last issued its earnings results on Wednesday, July 20th. The network technology company reported $1.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.79 by $0.02. F5 Networks had a net margin of 17.96% and a return on equity of 29.95%. The business had revenue of $496.50 million for the quarter, compared to the consensus estimate of $495.48 million. During the same period in the previous year, the company earned $1.67 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts expect that F5 Networks Inc. will post $7.14 earnings per share for the current fiscal year.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of F5 Networks from a “buy” rating to a “hold” rating in a research note on Monday, August 8th. DA Davidson lifted their price target on shares of F5 Networks from $125.34 to $145.00 and gave the stock a “buy” rating in a research note on Friday, August 12th. Jefferies Group reaffirmed a “hold” rating and set a $110.00 price target (up previously from $100.00) on shares of F5 Networks in a research note on Sunday, July 24th. Drexel Hamilton reaffirmed a “buy” rating and set a $155.00 price target (up previously from $145.00) on shares of F5 Networks in a research note on Sunday, July 24th. Finally, Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of F5 Networks in a research note on Thursday, July 21st. Two research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. F5 Networks presently has a consensus rating of “Hold” and an average target price of $116.01.
In other F5 Networks news, COO Edward Julian Eames sold 6,489 shares of F5 Networks stock in a transaction on Monday, August 1st. The shares were sold at an average price of $123.99, for a total transaction of $804,571.11. Following the completion of the transaction, the chief operating officer now directly owns 27,815 shares of the company’s stock, valued at $3,448,781.85. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Mcadam sold 7,169 shares of F5 Networks stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $126.11, for a total transaction of $904,082.59. Following the transaction, the insider now directly owns 33,682 shares of the company’s stock, valued at $4,247,637.02. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.
F5 Networks Company Profile
F5 Networks, Inc is the developer and provider of application delivery services. The Company’s core technology is a full-proxy, programmable, software platform called TMOS (Traffic Management Operating System). It helps organizations seamlessly scale cloud, data center, and software-defined networking deployments to successfully deliver applications to anyone, anywhere, at any time.