Montag & Caldwell LLC Sells 3,600 Shares of F5 Networks, Inc. (FFIV)
Montag & Caldwell LLC reduced its position in shares of F5 Networks, Inc. (NASDAQ:FFIV) by 59.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,464 shares of the network technology company’s stock after selling 3,600 shares during the period. Montag & Caldwell LLC’s holdings in F5 Networks were worth $313,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in FFIV. OppenheimerFunds Inc. raised its position in F5 Networks by 6.1% in the first quarter. OppenheimerFunds Inc. now owns 1,705 shares of the network technology company’s stock worth $243,000 after buying an additional 98 shares during the period. Soros Fund Management LLC purchased a new position in F5 Networks during the first quarter worth $385,000. American Beacon Advisors Inc. purchased a new position in F5 Networks during the first quarter worth $153,000. Winslow Evans & Crocker Inc. raised 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 worth $345,000 after buying an additional 14 shares during the period. Finally, CFO4Life Group LLC purchased a new position in F5 Networks during the first quarter worth $413,000. 96.92% of the stock is currently owned by institutional investors and hedge funds.
Shares of F5 Networks, Inc. (FFIV) opened at 117.82 on Friday. The stock has a market capitalization of $7.49 billion, a price-to-earnings ratio of 19.57 and a beta of 1.16. The company has a 50 day moving average of $124.87 and a 200 day moving average of $133.50. F5 Networks, Inc. has a 52-week low of $114.45 and a 52-week high of $149.50.
F5 Networks (NASDAQ:FFIV) last announced its earnings results on Wednesday, July 26th. The network technology company reported $2.03 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $2.03. F5 Networks had a return on equity of 33.85% and a net margin of 18.96%. The business had revenue of $517.80 million during the quarter, compared to analysts’ expectations of $525.57 million. During the same quarter last year, the business posted $1.81 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis. Analysts predict that F5 Networks, Inc. will post $8.17 EPS for the current fiscal year.
FFIV has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of F5 Networks from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Piper Jaffray Companies lowered shares of F5 Networks from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $144.00 to $136.00 in a research report on Friday, July 14th. Credit Suisse Group set a $138.00 price objective on shares of F5 Networks and gave the company a “hold” rating in a research report on Thursday, April 20th. Royal Bank Of Canada reiterated a “hold” rating and issued a $132.00 price objective on shares of F5 Networks in a research report on Monday, May 29th. Finally, Morgan Stanley lowered their price objective on shares of F5 Networks from $136.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Friday, April 28th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $132.00.
In related news, CFO Andrew Reinland sold 6,215 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $120.27, for a total value of $747,478.05. Following the completion of the transaction, the chief financial officer now owns 20,601 shares in the company, valued at approximately $2,477,682.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Francois Locoh-Donou sold 2,029 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $119.61, for a total value of $242,688.69. Following the completion of the transaction, the chief executive officer now owns 2,636 shares of the company’s stock, valued at approximately $315,291.96. The disclosure for this sale can be found here. Insiders sold a total of 19,050 shares of company stock valued at $2,293,138 in the last quarter. 0.26% of the stock is currently owned by corporate insiders.
F5 Networks Company Profile
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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