Lake Street Advisors Group LLC cut its stake in shares of F5 Networks, Inc. (NASDAQ:FFIV) by 25.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,497 shares of the network technology company’s stock after selling 510 shares during the quarter. Lake Street Advisors Group LLC’s holdings in F5 Networks were worth $258,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Signaturefd LLC purchased a new position in shares of F5 Networks in the first quarter valued at about $100,000. Piedmont Investment Advisors LLC purchased a new stake in shares of F5 Networks in the second quarter worth about $119,000. Qube Research & Technologies Ltd purchased a new stake in shares of F5 Networks in the second quarter worth about $131,000. Atlantic Trust Group LLC lifted its position in shares of F5 Networks by 53.2% in the first quarter. Atlantic Trust Group LLC now owns 1,302 shares of the network technology company’s stock worth $188,000 after buying an additional 452 shares in the last quarter. Finally, Ostrum Asset Management purchased a new stake in shares of F5 Networks in the first quarter worth about $196,000. Institutional investors own 94.22% of the company’s stock.

FFIV has been the topic of a number of research analyst reports. Standpoint Research downgraded F5 Networks from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a research report on Monday, June 18th. Morgan Stanley downgraded F5 Networks from an “equal weight” rating to an “underweight” rating and set a $130.00 target price on the stock. in a research report on Thursday, July 19th. Credit Suisse Group boosted their target price on F5 Networks from $188.00 to $216.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 5th. Bank of America boosted their target price on F5 Networks from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 11th. Finally, BidaskClub downgraded F5 Networks from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 2nd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $166.16.

In other news, SVP Ryan C. Kearny sold 857 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $171.86, for a total transaction of $147,284.02. Following the transaction, the senior vice president now owns 4,714 shares of the company’s stock, valued at $810,148.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Francois Locoh-Donou sold 3,332 shares of the company’s stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $168.99, for a total value of $563,074.68. Following the transaction, the chief executive officer now directly owns 15,080 shares in the company, valued at approximately $2,548,369.20. The disclosure for this sale can be found here. Insiders have sold 17,327 shares of company stock worth $3,026,072 over the last three months. 0.30% of the stock is currently owned by insiders.

Shares of NASDAQ FFIV opened at $194.61 on Wednesday. F5 Networks, Inc. has a 1-year low of $114.63 and a 1-year high of $195.32. The company has a market cap of $11.84 billion, a price-to-earnings ratio of 30.13, a P/E/G ratio of 2.77 and a beta of 0.77.

F5 Networks (NASDAQ:FFIV) last issued its quarterly earnings data on Wednesday, July 25th. The network technology company reported $2.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.39 by $0.05. F5 Networks had a return on equity of 38.57% and a net margin of 21.37%. The company had revenue of $542.20 million for the quarter, compared to analysts’ expectations of $540.59 million. During the same period in the previous year, the firm posted $2.03 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. equities analysts predict that F5 Networks, Inc. will post 7.64 EPS for the current fiscal year.

F5 Networks Company Profile

F5 Networks, Inc develops, markets, and sells application delivery networking products that optimize the security, performance, and availability of network applications, servers, and storage systems. The company's primary application delivery technology is Traffic Management Operating System (TMOS) that enable company's products to intercept, inspect, and act on the contents of traffic from virtually each type of Internet Protocol-enabled application.

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Institutional Ownership by Quarter for F5 Networks (NASDAQ:FFIV)

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