Insider Selling: F5 Networks, Inc. (FFIV) EVP Sells $382,469.50 in Stock
F5 Networks, Inc. (NASDAQ:FFIV) EVP Benjamin Gibson sold 3,262 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $117.25, for a total transaction of $382,469.50. Following the completion of the sale, the executive vice president now directly owns 815 shares of the company’s stock, valued at $95,558.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
F5 Networks, Inc. (NASDAQ FFIV) opened at 115.56 on Friday. F5 Networks, Inc. has a 1-year low of $114.45 and a 1-year high of $149.50. The company has a 50-day moving average of $119.24 and a 200 day moving average of $130.61. The stock has a market cap of $7.34 billion, a P/E ratio of 19.19 and a beta of 1.16.
F5 Networks (NASDAQ:FFIV) last posted its earnings results on Wednesday, July 26th. The network technology company reported $2.03 EPS for the quarter, meeting the Zacks’ consensus estimate of $2.03. F5 Networks had a net margin of 18.96% and a return on equity of 33.85%. The company had revenue of $517.80 million for the quarter, compared to analysts’ expectations of $525.57 million. During the same quarter in the prior year, the company posted $1.81 earnings per share. F5 Networks’s revenue for the quarter was up 4.3% compared to the same quarter last year. Analysts predict that F5 Networks, Inc. will post $8.17 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Sei Investments Co. lifted its position in F5 Networks by 2.6% in the second quarter. Sei Investments Co. now owns 9,085 shares of the network technology company’s stock valued at $1,154,000 after buying an additional 230 shares during the last quarter. OppenheimerFunds Inc. lifted 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 valued at $243,000 after buying an additional 98 shares during the last quarter. Soros Fund Management LLC acquired a new position in F5 Networks in the first quarter valued at about $385,000. American Beacon Advisors Inc. acquired a new position in F5 Networks in the first quarter valued at about $153,000. Finally, Oppenheimer Asset Management Inc. lifted its position in F5 Networks by 18.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 21,037 shares of the network technology company’s stock valued at $2,673,000 after buying an additional 3,234 shares during the last quarter. 96.45% of the stock is currently owned by institutional investors.
FFIV has been the subject of a number of research 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. Royal Bank Of Canada reiterated a “hold” rating and set a $132.00 price objective on shares of F5 Networks in a research report on Monday, May 29th. Jefferies Group LLC reiterated a “hold” rating and set a $124.00 price objective on shares of F5 Networks in a research report on Thursday, August 31st. Finally, Drexel Hamilton reiterated a “buy” rating and set a $160.00 price objective on shares of F5 Networks in a research report on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $130.81.
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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