F5 Networks Inc. (FFIV) Stock Price Up 5.3%
F5 Networks Inc. (NASDAQ:FFIV)’s share price rose 5.3% on Tuesday . The stock 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.
A number of equities research analysts have commented on the company. Nomura cut F5 Networks to a “sell” rating and set a $90.00 target price on the stock. in a report on Tuesday. Wells Fargo & Co. assumed coverage on F5 Networks in a report on Monday, June 27th. They set a “buy” rating on the stock. Zacks Investment Research upgraded F5 Networks from a “hold” rating to a “buy” rating and set a $109.00 target price on the stock in a report on Thursday, April 7th. Citigroup Inc. reiterated a “neutral” rating and set a $110.00 target price (up previously from $95.00) on shares of F5 Networks in a report on Thursday, April 21st. Finally, Credit Suisse Group AG increased their target price on F5 Networks from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, July 13th. Two equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $113.34.
The stock has a market cap of $8.11 billion and a PE ratio of 23.95. The company has a 50 day moving average of $115.73 and a 200 day moving average of $102.92.
In other news, EVP Scot Frazier Rogers sold 1,597 shares of the company’s stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $103.64, for a total transaction of $165,513.08. Following the completion of the transaction, the executive vice president now owns 5,954 shares of the company’s stock, valued at $617,072.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew Reinland sold 4,187 shares of the company’s stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $103.66, for a total transaction of $434,024.42. Following the transaction, the chief financial officer now directly owns 18,983 shares of the company’s stock, valued at approximately $1,967,777.78. The disclosure for this sale can be found here.
Several hedge funds and institutional investors recently made changes to their positions in the stock. GSA Capital Partners LLP raised its position in shares of F5 Networks by 57.3% in the fourth quarter. GSA Capital Partners LLP now owns 12,636 shares of the network technology company’s stock worth $1,225,000 after buying an additional 4,605 shares in the last quarter. Bailard Inc. bought a new position in shares of F5 Networks during the fourth quarter worth approximately $1,284,000. Ameritas Investment Partners Inc. bought a new position in shares of F5 Networks during the fourth quarter worth approximately $1,396,000. Andra AP fonden raised its position in shares of F5 Networks by 5.1% in the fourth quarter. Andra AP fonden now owns 16,400 shares of the network technology company’s stock worth $1,590,000 after buying an additional 800 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in shares of F5 Networks during the fourth quarter worth approximately $1,771,000.
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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