Piedmont Investment Advisors Inc. boosted its holdings in F5 Networks, Inc. (NASDAQ:FFIV) by 627.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 5,033 shares of the network technology company’s stock after acquiring an additional 4,341 shares during the period. Piedmont Investment Advisors Inc.’s holdings in F5 Networks were worth $1,004,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of FFIV. Hartford Investment Management Co. increased its position in F5 Networks by 13.5% during the 3rd quarter. Hartford Investment Management Co. now owns 10,298 shares of the network technology company’s stock worth $2,054,000 after purchasing an additional 1,221 shares in the last quarter. Swiss National Bank increased its position in F5 Networks by 22.1% during the 3rd quarter. Swiss National Bank now owns 381,264 shares of the network technology company’s stock worth $76,032,000 after purchasing an additional 68,900 shares in the last quarter. Providence Capital Advisors LLC increased its position in F5 Networks by 3.6% during the 3rd quarter. Providence Capital Advisors LLC now owns 9,882 shares of the network technology company’s stock worth $1,971,000 after purchasing an additional 341 shares in the last quarter. Norinchukin Bank The increased its position in F5 Networks by 13.0% during the 3rd quarter. Norinchukin Bank The now owns 7,825 shares of the network technology company’s stock worth $1,560,000 after purchasing an additional 900 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its position in F5 Networks by 68.1% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,522 shares of the network technology company’s stock worth $503,000 after purchasing an additional 1,022 shares in the last quarter. Institutional investors and hedge funds own 98.31% of the company’s stock.

In other F5 Networks news, CEO Francois Locoh-Donou sold 6,118 shares of the business’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $177.32, for a total transaction of $1,084,843.76. Following the sale, the chief executive officer now directly owns 21,961 shares of the company’s stock, valued at approximately $3,894,124.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Ryan C. Kearny sold 8,226 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $177.90, for a total transaction of $1,463,405.40. Following the sale, the senior vice president now directly owns 14,139 shares in the company, valued at $2,515,328.10. The disclosure for this sale can be found here. Insiders have sold a total of 39,068 shares of company stock worth $6,956,843 over the last three months. Insiders own 0.30% of the company’s stock.

FFIV opened at $169.54 on Tuesday. F5 Networks, Inc. has a fifty-two week low of $121.22 and a fifty-two week high of $199.71. The company has a market cap of $10.81 billion, a price-to-earnings ratio of 21.19, a price-to-earnings-growth ratio of 2.11 and a beta of 0.95.

F5 Networks (NASDAQ:FFIV) last posted its earnings results on Wednesday, October 24th. The network technology company reported $2.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.63 by $0.27. F5 Networks had a net margin of 20.99% and a return on equity of 40.04%. The firm had revenue of $562.71 million for the quarter, compared to analyst estimates of $560.72 million. On average, equities analysts predict that F5 Networks, Inc. will post 8.48 earnings per share for the current fiscal year.

FFIV has been the subject of a number of research analyst reports. BidaskClub cut shares of F5 Networks from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 2nd. BMO Capital Markets upped their price objective on shares of F5 Networks from $188.00 to $195.00 and gave the stock an “outperform” rating in a research report on Thursday, October 25th. Zacks Investment Research reiterated a “buy” rating and set a $189.00 price objective on shares of F5 Networks in a research report on Tuesday, November 13th. Piper Jaffray Companies cut shares of F5 Networks from a “neutral” rating to an “underweight” rating and upped their price objective for the stock from $168.00 to $180.00 in a research report on Monday, October 1st. Finally, MKM Partners upped their price objective on shares of F5 Networks to $190.00 and gave the stock a “neutral” rating in a research report on Friday, October 26th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $174.41.

TRADEMARK VIOLATION WARNING: This piece of content was reported by Daily Political and is the property of of Daily Political. If you are reading this piece of content on another publication, it was stolen and republished in violation of U.S. and international trademark and copyright laws. The correct version of this piece of content can be viewed at https://www.dailypolitical.com/2018/11/20/piedmont-investment-advisors-inc-has-1-million-holdings-in-f5-networks-inc-ffiv.html.

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.

Recommended Story: Capital Gains

Want to see what other hedge funds are holding FFIV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for F5 Networks, Inc. (NASDAQ:FFIV).

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

Receive News & Ratings for F5 Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for F5 Networks and related companies with MarketBeat.com's FREE daily email newsletter.