F5 Networks, Inc. (NASDAQ:FFIV) was downgraded by stock analysts at Piper Jaffray Companies from an “overweight” rating to a “neutral” rating in a report released on Friday, Marketbeat.com reports. They presently have a $136.00 price objective on the network technology company’s stock, down from their prior price objective of $144.00. Piper Jaffray Companies’ target price would suggest a potential upside of 9.82% from the company’s previous close.

FFIV has been the topic of several other reports. Jefferies Group LLC reaffirmed a “hold” rating and set a $130.00 target price on shares of F5 Networks in a research report on Friday, June 16th. Drexel Hamilton reaffirmed a “buy” rating and set a $165.00 target price on shares of F5 Networks in a research report on Monday, April 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of F5 Networks in a research report on Thursday, March 30th. Oppenheimer Holdings, Inc. set a $157.00 target price on F5 Networks and gave the company a “buy” rating in a research report on Saturday, April 8th. Finally, Barclays PLC reaffirmed a “sell” rating and set a $124.00 target price on shares of F5 Networks in a research report on Friday, April 28th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $136.65.

F5 Networks (NASDAQ FFIV) traded down 3.47% during midday trading on Friday, hitting $123.84. The stock had a trading volume of 2,142,523 shares. The company’s 50 day moving average price is $128.85 and its 200-day moving average price is $137.65. F5 Networks has a 52-week low of $110.86 and a 52-week high of $149.50. The stock has a market cap of $8.01 billion, a PE ratio of 21.14 and a beta of 1.17.

F5 Networks (NASDAQ:FFIV) last announced its earnings results on Wednesday, April 26th. The network technology company reported $1.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.52 by $0.06. F5 Networks had a net margin of 18.88% and a return on equity of 33.53%. The business had revenue of $518.20 million for the quarter, compared to analyst estimates of $523.12 million. During the same period in the prior year, the company earned $1.68 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. Analysts forecast that F5 Networks will post $8.19 EPS for the current fiscal year.

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In other news, Director John Mcadam sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $130.17, for a total value of $1,301,700.00. Following the sale, the director now owns 66,953 shares in the company, valued at $8,715,272.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John D. Dilullo sold 3,420 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $127.62, for a total value of $436,460.40. Following the completion of the sale, the executive vice president now owns 4,926 shares in the company, valued at approximately $628,656.12. The disclosure for this sale can be found here. Insiders sold 25,146 shares of company stock worth $3,234,190 in the last 90 days. Company insiders own 0.26% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Eqis Capital Management Inc. increased its stake in shares of F5 Networks by 23.6% in the second quarter. Eqis Capital Management Inc. now owns 4,894 shares of the network technology company’s stock worth $622,000 after buying an additional 935 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in shares of F5 Networks by 511.6% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 10,508 shares of the network technology company’s stock worth $1,335,000 after buying an additional 8,790 shares during the last quarter. Creative Planning increased its stake in shares of F5 Networks by 142.7% in the second quarter. Creative Planning now owns 2,036 shares of the network technology company’s stock worth $259,000 after buying an additional 1,197 shares during the last quarter. Nepsis Capital Management Inc. increased its stake in shares of F5 Networks by 4.6% in the second quarter. Nepsis Capital Management Inc. now owns 42,086 shares of the network technology company’s stock worth $5,347,000 after buying an additional 1,868 shares during the last quarter. Finally, Atria Investments LLC increased its stake in shares of F5 Networks by 13.4% in the second quarter. Atria Investments LLC now owns 6,625 shares of the network technology company’s stock worth $842,000 after buying an additional 785 shares during the last quarter. Hedge funds and other institutional investors own 96.40% of the company’s stock.

F5 Networks Company Profile

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.

Analyst Recommendations for F5 Networks (NASDAQ:FFIV)

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