Piper Jaffray Companies downgraded shares of F5 Networks, Inc. (NASDAQ:FFIV) from an overweight rating to a neutral rating in a research note published on Friday, July 14th, Marketbeat.com reports. The firm currently has $136.00 price objective on the network technology company’s stock, down from their prior price objective of $144.00.
Several other equities research analysts have also issued reports on the company. Barclays PLC reiterated a sell rating and set a $124.00 price target on shares of F5 Networks in a report on Friday, April 28th. Credit Suisse Group set a $138.00 price target on F5 Networks and gave the company a hold rating in a report on Thursday, April 20th. Deutsche Bank AG lowered F5 Networks from a hold rating to a sell rating and reduced their price target for the company from $120.00 to $100.00 in a report on Wednesday, March 29th. Cowen and Company reiterated an outperform rating and set a $145.00 price target (down from $149.00) on shares of F5 Networks in a report on Friday, April 28th. Finally, Morgan Stanley reduced their price target on F5 Networks from $136.00 to $130.00 and set an equal weight rating for the company in a report on Friday, April 28th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $132.00.
Shares of F5 Networks (NASDAQ FFIV) traded down 1.19% on Friday, hitting $118.62. 912,332 shares of the stock traded hands. The company’s 50 day moving average is $126.44 and its 200 day moving average is $134.35. The stock has a market cap of $7.54 billion, a price-to-earnings ratio of 19.70 and a beta of 1.16. F5 Networks has a one year low of $114.45 and a one year high of $149.50.
F5 Networks (NASDAQ:FFIV) last released its earnings results on Wednesday, July 26th. The network technology company reported $2.03 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $2.03. F5 Networks had a return on equity of 33.85% and a net margin of 18.96%. The company had revenue of $517.80 million for the quarter, compared to analysts’ expectations of $525.57 million. During the same quarter in the previous year, the business posted $1.81 EPS. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities analysts forecast that F5 Networks will post $8.17 EPS for the current year.
In other F5 Networks news, EVP Ryan C. Kearny sold 836 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $120.59, for a total value of $100,813.24. Following the sale, the executive vice president now directly owns 2,148 shares in the company, valued at $259,027.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Mcadam sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $130.17, for a total value of $1,301,700.00. Following the completion of the sale, the director now owns 66,953 shares in the company, valued at $8,715,272.01. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,050 shares of company stock worth $3,594,838. 0.26% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in FFIV. First Bank & Trust boosted its stake in shares of 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 during the period. Raymond James Financial Services Advisors Inc. boosted its stake in shares of F5 Networks by 0.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 2,071 shares of the network technology company’s stock worth $295,000 after buying an additional 9 shares during the period. Winslow Evans & Crocker Inc. boosted its stake in shares of F5 Networks by 0.6% in the first quarter. Winslow Evans & Crocker Inc. now owns 2,418 shares of the network technology company’s stock worth $345,000 after buying an additional 14 shares during the period. Contravisory Investment Management Inc. boosted its stake in shares of F5 Networks by 0.8% in the second quarter. Contravisory Investment Management Inc. now owns 1,846 shares of the network technology company’s stock worth $235,000 after buying an additional 14 shares during the period. Finally, Concert Wealth Management Inc. boosted its stake in shares of F5 Networks by 0.8% in the first quarter. Concert Wealth Management Inc. now owns 1,867 shares of the network technology company’s stock worth $267,000 after buying an additional 15 shares during the period. Hedge funds and other institutional investors own 96.92% 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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