F5 Networks Inc. (NASDAQ:FFIV) rose 5.3% during mid-day trading on Tuesday . The company traded as high as $122.34 and last traded at $121.97, with a volume of 1,584,033 shares trading hands. The stock had previously closed at $115.82.

FFIV has been the topic of a number of recent research reports. Barclays PLC cut F5 Networks from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $126.00 to $114.00 in a research note on Monday, March 28th. BMO Capital Markets lifted their price objective on shares of F5 Networks from $105.00 to $121.00 and gave the company an “outperform” rating in a research note on Monday, March 28th. Cantor Fitzgerald lifted their price objective on shares of F5 Networks from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, March 28th. Citigroup Inc. lifted their price objective on shares of F5 Networks from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, March 28th. Finally, Cowen and Company lifted their price objective on shares of F5 Networks from $135.00 to $136.00 and gave the company an “outperform” rating in a research note on Monday, March 28th. Two investment analysts have rated the stock with a sell rating, twenty-three have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $114.07.

The company has a market cap of $8.14 billion and a PE ratio of 24.02. The firm’s 50 day moving average price is $116.19 and its 200 day moving average price is $103.18.

F5 Networks (NASDAQ:FFIV) last released its quarterly earnings data on Wednesday, July 20th. The network technology company reported $1.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.79 by $0.02. The business earned $496.50 million during the quarter, compared to analyst estimates of $495.48 million. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.67 earnings per share. On average, equities analysts anticipate that F5 Networks Inc. will post $7.10 EPS for the current fiscal year.

In related news, COO Edward Julian Eames sold 6,667 shares of F5 Networks stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $103.69, for a total transaction of $691,301.23. Following the completion of the sale, the chief operating officer now directly owns 27,991 shares of the company’s stock, valued at approximately $2,902,386.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Scot Frazier Rogers sold 1,597 shares of F5 Networks stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $103.64, for a total value of $165,513.08. Following the sale, the executive vice president now directly owns 5,954 shares of the company’s stock, valued at $617,072.56. The disclosure for this sale can be found here.

A number of hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its stake in F5 Networks by 14.6% in the fourth quarter. ProShare Advisors LLC now owns 24,116 shares of the network technology company’s stock valued at $2,338,000 after buying an additional 3,069 shares during the last quarter. New York State Common Retirement Fund boosted its stake in F5 Networks by 0.7% in the fourth quarter. New York State Common Retirement Fund now owns 219,914 shares of the network technology company’s stock valued at $21,323,000 after buying an additional 1,500 shares during the last quarter. Vanguard Group Inc. boosted its stake in F5 Networks by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 6,120,313 shares of the network technology company’s stock valued at $593,426,000 after buying an additional 149,975 shares during the last quarter. GAM Holding AG boosted its stake in F5 Networks by 13.2% in the fourth quarter. GAM Holding AG now owns 37,474 shares of the network technology company’s stock valued at $3,633,000 after buying an additional 4,374 shares during the last quarter. Finally, New Amsterdam Partners LLC NY boosted its stake in F5 Networks by 5.6% in the fourth quarter. New Amsterdam Partners LLC NY now owns 189,901 shares of the network technology company’s stock valued at $18,413,000 after buying an additional 10,075 shares during the last quarter.

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.

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