F5 Networks, Inc. (FFIV) Position Raised by Investec Asset Management LTD
Investec Asset Management LTD increased its position in shares of F5 Networks, Inc. (NASDAQ:FFIV) by 14.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,785 shares of the network technology company’s stock after purchasing an additional 7,773 shares during the period. Investec Asset Management LTD owned 0.10% of F5 Networks worth $7,328,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in FFIV. Acrospire Investment Management LLC increased its position in shares of F5 Networks by 100.0% during the second quarter. Acrospire Investment Management LLC now owns 800 shares of the network technology company’s stock valued at $102,000 after acquiring an additional 400 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of F5 Networks by 23.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 860 shares of the network technology company’s stock worth $110,000 after acquiring an additional 161 shares during the period. IFP Advisors Inc increased its stake in shares of F5 Networks by 65.6% in the second quarter. IFP Advisors Inc now owns 959 shares of the network technology company’s stock worth $122,000 after acquiring an additional 380 shares during the period. Bronfman E.L. Rothschild L.P. increased its stake in shares of F5 Networks by 1.5% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,397 shares of the network technology company’s stock worth $178,000 after acquiring an additional 21 shares during the period. Finally, Institute for Wealth Management LLC. acquired a new stake in shares of F5 Networks in the second quarter worth $234,000. Hedge funds and other institutional investors own 99.06% of the company’s stock.
In related news, CEO Francois Locoh-Donou sold 1,714 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $119.87, for a total value of $205,457.18. Following the completion of the sale, the chief executive officer now owns 2,119 shares in the company, valued at approximately $254,004.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Benjamin Gibson sold 932 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $119.52, for a total transaction of $111,392.64. Following the completion of the sale, the chief marketing officer now owns 1,651 shares of the company’s stock, valued at approximately $197,327.52. The disclosure for this sale can be found here. Insiders have sold a total of 38,974 shares of company stock valued at $4,698,814 in the last 90 days. Insiders own 0.26% of the company’s stock.
Several equities analysts have recently weighed in on the stock. Robert W. Baird reissued a “hold” rating and issued a $125.00 price target on shares of F5 Networks in a research note on Wednesday, October 4th. Zacks Investment Research upgraded shares of F5 Networks from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Piper Jaffray Companies restated a “hold” rating and issued a $121.00 price objective on shares of F5 Networks in a report on Thursday, October 12th. Cowen restated a “buy” rating and issued a $140.00 price objective on shares of F5 Networks in a report on Friday, October 27th. Finally, KeyCorp restated a “hold” rating on shares of F5 Networks in a report on Wednesday, October 11th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $125.94.
F5 Networks, Inc. (NASDAQ:FFIV) opened at $134.20 on Friday. F5 Networks, Inc. has a 12 month low of $114.63 and a 12 month high of $149.50. The stock has a market cap of $7,928.72, a P/E ratio of 19.58, a P/E/G ratio of 2.01 and a beta of 1.01.
F5 Networks (NASDAQ:FFIV) last issued its quarterly earnings data on Wednesday, October 25th. The network technology company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.24. The business had revenue of $538.00 million during the quarter, compared to the consensus estimate of $534.71 million. F5 Networks had a net margin of 20.13% and a return on equity of 34.70%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.11 EPS. analysts expect that F5 Networks, Inc. will post 6.7 earnings per share for the current fiscal year.
F5 Networks announced that its board has approved a stock repurchase plan on Wednesday, October 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the network technology company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
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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