Montag & Caldwell LLC Boosts Position in F5 Networks Inc. (FFIV)
Montag & Caldwell LLC raised its position in shares of F5 Networks Inc. (NASDAQ:FFIV) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,026 shares of the network technology company’s stock after buying an additional 30 shares during the period. Montag & Caldwell LLC’s holdings in F5 Networks were worth $458,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of FFIV. IFP Advisors Inc boosted its position in shares of 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. JFS Wealth Advisors LLC bought a new position in shares of F5 Networks during the second quarter worth approximately $137,000. Invictus RG boosted its position in shares of F5 Networks by 620.0% in the first quarter. Invictus RG now owns 1,440 shares of the network technology company’s stock worth $152,000 after buying an additional 1,240 shares during the period. Huntington National Bank boosted its position in shares of F5 Networks by 4.8% in the second quarter. Huntington National Bank now owns 1,455 shares of the network technology company’s stock worth $166,000 after buying an additional 67 shares during the period. Finally, Conning Inc. bought a new position in shares of F5 Networks during the second quarter worth approximately $207,000. Hedge funds and other institutional investors own 94.78% of the company’s stock.
Shares of F5 Networks Inc. (NASDAQ:FFIV) traded up 0.61% on Wednesday, hitting $125.50. The stock had a trading volume of 448,426 shares. The stock has a 50 day moving average of $122.04 and a 200 day moving average of $114.01. F5 Networks Inc. has a 12-month low of $86.03 and a 12-month high of $127.13. The firm has a market cap of $8.31 billion, a price-to-earnings ratio of 24.53 and a beta of 1.96.
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 Thomson Reuters’ consensus estimate of $1.79 by $0.02. The business had revenue of $496.50 million for the quarter, compared to analysts’ expectations of $495.48 million. F5 Networks had a return on equity of 29.95% and a net margin of 17.96%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.67 EPS. Equities analysts predict that F5 Networks Inc. will post $7.14 earnings per share for the current fiscal year.
A number of equities analysts have commented on FFIV shares. MKM Partners lifted their price target on F5 Networks from $106.00 to $118.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 8th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of F5 Networks in a research note on Wednesday, June 8th. Robert W. Baird reaffirmed a “neutral” rating and issued a $110.00 price target on shares of F5 Networks in a research note on Thursday, June 9th. Bank of America Corp. reissued a “hold” rating on shares of F5 Networks in a research note on Wednesday, June 22nd. Finally, Wells Fargo & Co. began coverage on F5 Networks in a research note on Monday, June 27th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $116.01.
In other news, EVP Scot Frazier Rogers sold 1,607 shares of the business’s stock in a transaction that occurred 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 approximately $817,786.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Andrew Reinland sold 5,674 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $122.94, for a total value of $697,561.56. Following the transaction, the chief financial officer now owns 16,935 shares in the company, valued at $2,081,988.90. The disclosure for this sale can be found here. Insiders own 0.28% of the company’s stock.
About F5 Networks
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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