F5 Networks Inc. (FFIV) Position Decreased by Chevy Chase Trust Holdings Inc.
Chevy Chase Trust Holdings Inc. lowered its position in shares of F5 Networks Inc. (NASDAQ:FFIV) by 3.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 55,247 shares of the network technology company’s stock after selling 1,971 shares during the period. Chevy Chase Trust Holdings Inc.’s holdings in F5 Networks were worth $6,886,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its stake in F5 Networks by 61.2% in the third quarter. BNP Paribas Arbitrage SA now owns 32,152 shares of the network technology company’s stock valued at $4,007,000 after buying an additional 12,201 shares during the last quarter. Macquarie Group Ltd. boosted its stake in F5 Networks by 8.4% in the second quarter. Macquarie Group Ltd. now owns 1,301 shares of the network technology company’s stock valued at $148,000 after buying an additional 101 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in F5 Networks during the second quarter valued at $308,000. Kentucky Retirement Systems purchased a new stake in F5 Networks during the second quarter valued at $648,000. Finally, Mason Street Advisors LLC purchased a new stake in F5 Networks during the second quarter valued at $1,027,000. Institutional investors own 92.61% of the company’s stock.
Shares of F5 Networks Inc. (NASDAQ:FFIV) traded down 1.06% during trading on Wednesday, hitting $141.30. 464,828 shares of the stock were exchanged. F5 Networks Inc. has a one year low of $86.03 and a one year high of $144.28. The stock’s 50 day moving average price is $131.93 and its 200-day moving average price is $122.12. The company has a market cap of $9.23 billion, a price-to-earnings ratio of 26.26 and a beta of 1.38.
F5 Networks (NASDAQ:FFIV) last released its earnings results on Wednesday, October 26th. The network technology company reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.17. The business earned $525.30 million during the quarter, compared to analysts’ expectations of $520.45 million. F5 Networks had a net margin of 18.34% and a return on equity of 31.79%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.84 earnings per share. On average, analysts predict that F5 Networks Inc. will post $8.26 EPS for the current year.
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FFIV has been the topic of several research reports. Sanford C. Bernstein cut F5 Networks from an “outperform” rating to a “market perform” rating and set a $140.00 price objective on the stock. in a research report on Wednesday. They noted that the move was a valuation call. Wunderlich lifted their price objective on F5 Networks from $110.00 to $130.00 and gave the company a “hold” rating in a research report on Thursday, October 27th. Drexel Hamilton reaffirmed a “buy” rating and set a $160.00 price objective (up from $155.00) on shares of F5 Networks in a research report on Friday, October 28th. Credit Suisse Group AG set a $134.00 price objective on F5 Networks and gave the company a “hold” rating in a research report on Friday, November 18th. Finally, Zacks Investment Research raised F5 Networks from a “hold” rating to a “buy” rating and set a $161.00 price objective on the stock in a research report on Tuesday, November 15th. One analyst has rated the stock with a sell rating, twenty-one have issued a hold rating and fifteen have issued a buy rating to the stock. F5 Networks has a consensus rating of “Hold” and an average target price of $121.32.
In other F5 Networks news, EVP Scot Frazier Rogers sold 1,660 shares of the business’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $136.98, for a total value of $227,386.80. Following the transaction, the executive vice president now directly owns 7,350 shares in the company, valued at approximately $1,006,803. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alan Higginson sold 3,000 shares of the business’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $137.49, for a total transaction of $412,470.00. Following the completion of the transaction, the director now owns 13,310 shares in the company, valued at $1,829,991.90. 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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