F5 Networks, Inc. (FFIV) Cut to Neutral at Piper Jaffray Companies
Piper Jaffray Companies lowered shares of F5 Networks, Inc. (NASDAQ:FFIV) from an overweight rating to a neutral rating in a research note published on Friday, Marketbeat.com reports. Piper Jaffray Companies currently has $136.00 price target on the network technology company’s stock, down from their prior price target of $144.00.
Other research analysts have also issued reports about the company. Oppenheimer Holdings, Inc. set a $157.00 target price on F5 Networks and gave the company a buy rating in a research report on Saturday, April 8th. Jefferies Group LLC reissued a hold rating and issued a $130.00 price objective on shares of F5 Networks in a report on Friday, June 16th. Cowen and Company reissued an outperform rating and issued a $145.00 price objective on shares of F5 Networks in a report on Monday, June 5th. Royal Bank Of Canada cut their price objective on F5 Networks from $137.00 to $132.00 and set a sector perform rating on the stock in a report on Thursday, April 27th. Finally, Drexel Hamilton reissued a buy rating and issued a $165.00 price objective on shares of F5 Networks in a report on Monday, April 24th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $136.65.
F5 Networks (NASDAQ FFIV) traded up 0.04% during midday trading on Friday, reaching $126.63. The company had a trading volume of 568,887 shares. F5 Networks has a 1-year low of $114.45 and a 1-year high of $149.50. The company has a market capitalization of $8.19 billion, a P/E ratio of 21.61 and a beta of 1.17. The firm has a 50-day moving average of $128.85 and a 200 day moving average of $137.65.
F5 Networks (NASDAQ:FFIV) last announced its earnings results on Wednesday, April 26th. The network technology company reported $1.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.52 by $0.06. F5 Networks had a net margin of 18.88% and a return on equity of 33.53%. The business had revenue of $518.20 million for the quarter, compared to analyst estimates of $523.12 million. During the same period in the prior year, the company earned $1.68 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities research analysts forecast that F5 Networks will post $8.19 EPS for the current year.
In other news, Director John Mcadam sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $130.17, for a total value of $1,301,700.00. Following the transaction, the director now owns 66,953 shares in the company, valued at $8,715,272.01. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ryan C. Kearny sold 846 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $127.95, for a total value of $108,245.70. Following the completion of the transaction, the executive vice president now owns 1,071 shares in the company, valued at approximately $137,034.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,146 shares of company stock worth $3,234,190. Company insiders own 0.26% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Putnam Investments LLC purchased a new position in F5 Networks during the fourth quarter valued at $201,000. Winslow Evans & Crocker Inc. increased its position in F5 Networks by 0.6% in the first quarter. Winslow Evans & Crocker Inc. now owns 2,418 shares of the network technology company’s stock valued at $345,000 after buying an additional 14 shares during the period. CFO4Life Group LLC purchased a new position in F5 Networks during the first quarter valued at $413,000. Legal & General Group Plc increased its position in F5 Networks by 6.0% in the first quarter. Legal & General Group Plc now owns 315,821 shares of the network technology company’s stock valued at $45,026,000 after buying an additional 17,834 shares during the period. Finally, Soros Fund Management LLC purchased a new position in F5 Networks during the first quarter valued at $385,000. Institutional investors and hedge funds own 95.86% of the company’s stock.
About F5 Networks
F5 Networks, Inc is a developer and provider of software defined application services. The Company is engaged in the development, marketing and sale of application delivery networking products that optimize the security, performance and availability of network applications, servers and storage systems.
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