Insider Selling: Andrew Reinland Unloads 24,224 Shares of F5 Networks Stock (FFIV)
F5 Networks (NASDAQ:FFIV) CFO Andrew Reinland unloaded 24,224 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $120.00, for a total transaction of $2,906,880.00. Following the sale, the chief financial officer now directly owns 24,873 shares in the company, valued at approximately $2,984,760. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on FFIV. Analysts at ISI Group upgraded shares of F5 Networks from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. They now have a $7.00 price target on the stock, down previously from $135.00. Separately, analysts at Zacks upgraded shares of F5 Networks from a “neutral” rating to an “outperform” rating in a research note on Tuesday, July 29th. They now have a $115.90 price target on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of F5 Networks in a research note on Thursday, July 24th. They now have a $112.00 price target on the stock, up previously from $110.00. Fourteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. F5 Networks currently has a consensus rating of “Buy” and an average target price of $117.53.
F5 Networks (NASDAQ:FFIV) traded down 0.39% during mid-day trading on Thursday, hitting $122.09. 912,920 shares of the company’s stock traded hands. F5 Networks has a one year low of $78.14 and a one year high of $123.25. The stock’s 50-day moving average is $112.9 and its 200-day moving average is $109.7. The company has a market cap of $9.045 billion and a P/E ratio of 32.25.
F5 Networks (NASDAQ:FFIV) last released its earnings data on Wednesday, July 23rd. The company reported $1.39 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.35 by $0.04. The company had revenue of $440.30 million for the quarter, compared to the consensus estimate of $435.00 million. During the same quarter last year, the company posted $1.12 earnings per share. F5 Networks’s revenue was up 18.9% compared to the same quarter last year. On average, analysts predict that F5 Networks will post $5.35 earnings per share for the current fiscal year.
F5 Networks, Inc, is the developer and provider of application delivery services. The Company’s core technology is a full-proxy, programmable, software platform called TMOS (NASDAQ:FFIV).
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