F5 Networks Inc. (FFIV) Position Cut by First Mercantile Trust Co.
First Mercantile Trust Co. lowered its position in shares of F5 Networks Inc. (NASDAQ:FFIV) by 63.3% during the second quarter, Holdings Channel reports. The firm owned 1,642 shares of the network technology company’s stock after selling 2,833 shares during the period. First Mercantile Trust Co.’s holdings in F5 Networks were worth $187,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Aperio Group LLC boosted its stake in F5 Networks by 50.8% in the first quarter. Aperio Group LLC now owns 20,689 shares of the network technology company’s stock worth $2,190,000 after buying an additional 6,970 shares during the period. IFP Advisors Inc boosted its stake in F5 Networks by 23.1% in the first quarter. IFP Advisors Inc now owns 948 shares of the network technology company’s stock worth $100,000 after buying an additional 178 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in F5 Networks during the first quarter worth about $568,000. Ngam Advisors L.P. boosted its stake in F5 Networks by 23.5% in the first quarter. Ngam Advisors L.P. now owns 46,074 shares of the network technology company’s stock worth $4,877,000 after buying an additional 8,769 shares during the period. Finally, Teachers Advisors Inc. boosted its stake in F5 Networks by 33.8% in the first quarter. Teachers Advisors Inc. now owns 154,891 shares of the network technology company’s stock worth $16,395,000 after buying an additional 39,099 shares during the period. Institutional investors own 94.78% of the company’s stock.
Shares of F5 Networks Inc. (NASDAQ:FFIV) opened at 124.74 on Wednesday. The firm has a 50-day moving average of $122.04 and a 200 day moving average of $114.01. The firm has a market capitalization of $8.26 billion, a price-to-earnings ratio of 24.38 and a beta of 1.96. F5 Networks Inc. has a 52 week low of $86.03 and a 52 week high of $127.13.
F5 Networks (NASDAQ:FFIV) last posted its quarterly earnings data on Wednesday, July 20th. The network technology company reported $1.81 EPS for the quarter, beating the Zacks’ consensus estimate of $1.79 by $0.02. The company had revenue of $496.50 million for the quarter, compared to analyst estimates of $495.48 million. F5 Networks had a net margin of 17.96% and a return on equity of 29.95%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.67 EPS. On average, equities analysts predict that F5 Networks Inc. will post $7.14 earnings per share for the current fiscal year.
A number of equities research analysts have issued reports on FFIV shares. MKM Partners upped their price target on shares of F5 Networks from $106.00 to $118.00 and gave the company a “neutral” rating in a report on Wednesday, June 8th. Credit Suisse Group AG reiterated a “buy” rating on shares of F5 Networks in a research note on Wednesday, June 8th. Robert W. Baird reiterated a “neutral” rating and issued a $110.00 target price on shares of F5 Networks in a research note on Thursday, June 9th. Bank of America Corp. reiterated a “hold” rating on shares of F5 Networks in a research note on Wednesday, June 22nd. Finally, Wells Fargo & Co. assumed coverage on shares of F5 Networks in a research note on Monday, June 27th. They issued a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $116.01.
In related news, Director Deborah L. Bevier sold 6,229 shares of the stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $123.60, for a total transaction of $769,904.40. Following the transaction, the director now directly owns 5,412 shares of the company’s stock, valued at $668,923.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Scot Frazier Rogers sold 1,607 shares of the stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $122.92, for a total transaction of $197,532.44. Following the transaction, the executive vice president now directly owns 6,653 shares in the company, valued at $817,786.76. The disclosure for this sale can be found here. Corporate 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.
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