F5 Networks, Inc. (NASDAQ:FFIV) Cut to “Market Perform” at Citigroup Inc.
F5 Networks, Inc. (NASDAQ:FFIV) was downgraded by investment analysts at Citigroup Inc. to a “market perform” rating in a research report issued on Thursday, The Fly reports.
A number of other equities analysts have also weighed in on FFIV. Oppenheimer Holdings, Inc. set a $157.00 price objective on F5 Networks and gave the stock a “buy” rating in a research note on Saturday, April 8th. Piper Jaffray Companies dropped their price objective on F5 Networks to $121.00 and set a “neutral” rating for the company in a research note on Thursday. Robert W. Baird reaffirmed a “hold” rating on shares of F5 Networks in a research note on Thursday. Jefferies Group LLC reaffirmed a “hold” rating and issued a $130.00 price objective on shares of F5 Networks in a research note on Friday, June 16th. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $145.00 price objective on shares of F5 Networks in a research note on Monday, June 5th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company. F5 Networks currently has a consensus rating of “Hold” and a consensus target price of $136.33.
F5 Networks (FFIV) opened at 128.20 on Thursday. The firm’s 50 day moving average price is $128.29 and its 200-day moving average price is $135.41. F5 Networks has a 12-month low of $114.45 and a 12-month high of $149.50. The company has a market capitalization of $8.29 billion, a PE ratio of 21.88 and a beta of 1.17.
F5 Networks (NASDAQ:FFIV) last issued its quarterly earnings results on Wednesday, July 26th. The network technology company reported $2.03 EPS for the quarter, hitting analysts’ consensus estimates of $2.03. The business had revenue of $517.80 million during the quarter, compared to analysts’ expectations of $525.57 million. F5 Networks had a return on equity of 33.53% and a net margin of 18.88%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.81 earnings per share. On average, equities analysts anticipate that F5 Networks will post $8.20 earnings per share for the current fiscal year.
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In other news, Director John Mcadam sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 66,953 shares of the company’s stock, valued at approximately $8,715,272.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew Reinland sold 6,235 shares of the firm’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $127.40, for a total value of $794,339.00. Following the completion of the sale, the chief financial officer now directly owns 18,602 shares of the company’s stock, valued at $2,369,894.80. The disclosure for this sale can be found here. Insiders sold a total of 25,146 shares of company stock valued at $3,234,190 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.
Large investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of F5 Networks by 2,108.1% in the first quarter. BlackRock Inc. now owns 4,404,873 shares of the network technology company’s stock valued at $628,003,000 after buying an additional 4,205,384 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of F5 Networks during the second quarter valued at $118,505,000. Norges Bank acquired a new stake in shares of F5 Networks during the fourth quarter valued at $131,723,000. Swedbank increased its stake in shares of F5 Networks by 38.7% in the fourth quarter. Swedbank now owns 2,491,971 shares of the network technology company’s stock valued at $244,363,000 after buying an additional 695,363 shares during the last quarter. Finally, Epoch Investment Partners Inc. acquired a new stake in shares of F5 Networks during the fourth quarter valued at $58,015,000. Hedge funds and other institutional investors own 94.88% of the company’s stock.
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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