Swiss National Bank grew its position in shares of F5 Networks, Inc. (NASDAQ:FFIV) by 29.9% in the 2nd quarter, Holdings Channel reports. The firm owned 312,364 shares of the network technology company’s stock after acquiring an additional 71,900 shares during the quarter. Swiss National Bank’s holdings in F5 Networks were worth $53,867,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Smith Asset Management Group LP acquired a new stake in shares of F5 Networks during the 1st quarter worth approximately $47,609,000. Wedge Capital Management L L P NC acquired a new stake in shares of F5 Networks during the 1st quarter worth approximately $46,268,000. Old Mutual Global Investors UK Ltd. grew its position in shares of F5 Networks by 21.2% during the 1st quarter. Old Mutual Global Investors UK Ltd. now owns 1,263,975 shares of the network technology company’s stock worth $182,783,000 after buying an additional 221,067 shares during the period. Unigestion Holding SA acquired a new stake in shares of F5 Networks during the 2nd quarter worth approximately $33,965,000. Finally, Teacher Retirement System of Texas grew its position in shares of F5 Networks by 141.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 325,842 shares of the network technology company’s stock worth $56,191,000 after buying an additional 190,970 shares during the period. Hedge funds and other institutional investors own 99.94% of the company’s stock.
NASDAQ FFIV opened at $187.64 on Monday. F5 Networks, Inc. has a 12-month low of $114.63 and a 12-month high of $188.62. The firm has a market capitalization of $11.41 billion, a P/E ratio of 29.05, a price-to-earnings-growth ratio of 2.67 and a beta of 0.77.
In related news, Director John Mcadam sold 10,000 shares of F5 Networks stock in a transaction on Friday, June 8th. The shares were sold at an average price of $176.60, for a total value of $1,766,000.00. Following the completion of the sale, the director now owns 16,416 shares of the company’s stock, valued at approximately $2,899,065.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Scot Frazier Rogers sold 2,512 shares of the firm’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $171.02, for a total value of $429,602.24. Following the transaction, the executive vice president now owns 11,096 shares in the company, valued at $1,897,637.92. The disclosure for this sale can be found here. In the last three months, insiders sold 33,993 shares of company stock valued at $5,972,820. 0.30% of the stock is currently owned by insiders.
Several analysts have recently commented on FFIV shares. Credit Suisse Group set a $188.00 price objective on shares of F5 Networks and gave the stock a “buy” rating in a research report on Friday, June 29th. Zacks Investment Research raised shares of F5 Networks from a “hold” rating to a “buy” rating and set a $198.00 price objective for the company in a research report on Wednesday, July 18th. JPMorgan Chase & Co. set a $211.00 price objective on shares of F5 Networks and gave the stock a “buy” rating in a research report on Thursday, July 5th. Standpoint Research downgraded shares of F5 Networks from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research report on Monday, June 18th. Finally, Morgan Stanley downgraded shares of F5 Networks from an “equal weight” rating to an “underweight” rating and set a $130.00 price objective for the company. in a research report on Thursday, July 19th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $162.65.
About F5 Networks
F5 Networks, Inc develops, markets, and sells application delivery networking products that optimize the security, performance, and availability of network applications, servers, and storage systems. The company's primary application delivery technology is Traffic Management Operating System (TMOS) that enable company's products to intercept, inspect, and act on the contents of traffic from virtually each type of Internet Protocol-enabled application.
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