F5 Networks, Inc. (NASDAQ:FFIV) CFO Andrew Reinland sold 2,241 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $121.03, for a total value of $271,228.23. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Shares of F5 Networks, Inc. (NASDAQ FFIV) traded down $0.95 during mid-day trading on Friday, hitting $119.65. The stock had a trading volume of 784,816 shares, compared to its average volume of 933,526. The company has a market cap of $7.57 billion, a P/E ratio of 18.70 and a beta of 1.01.

F5 Networks (NASDAQ:FFIV) last announced its earnings results on Wednesday, October 25th. The network technology company reported $2.44 EPS for the quarter, topping the consensus estimate of $2.20 by $0.24. The company had revenue of $538.00 million for the quarter, compared to analysts’ expectations of $534.71 million. F5 Networks had a return on equity of 34.70% and a net margin of 20.13%. During the same quarter in the prior year, the business earned $2.11 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. analysts predict that F5 Networks, Inc. will post 6.7 earnings per share for the current fiscal year.

F5 Networks declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the network technology company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

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Institutional investors and hedge funds have recently modified their holdings of the company. Acrospire Investment Management LLC lifted its stake in shares of F5 Networks by 100.0% during the second quarter. Acrospire Investment Management LLC now owns 800 shares of the network technology company’s stock valued at $102,000 after acquiring an additional 400 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of F5 Networks by 23.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 860 shares of the network technology company’s stock valued at $110,000 after acquiring an additional 161 shares during the period. IFP Advisors Inc lifted its stake in shares of F5 Networks by 65.6% during the second quarter. IFP Advisors Inc now owns 959 shares of the network technology company’s stock valued at $122,000 after acquiring an additional 380 shares during the period. Bronfman E.L. Rothschild L.P. lifted its stake in shares of F5 Networks by 1.5% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,397 shares of the network technology company’s stock valued at $178,000 after acquiring an additional 21 shares during the period. Finally, OppenheimerFunds Inc. lifted its stake in shares of F5 Networks by 6.1% during the first quarter. OppenheimerFunds Inc. now owns 1,705 shares of the network technology company’s stock valued at $243,000 after acquiring an additional 98 shares during the period. 96.00% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have recently commented on FFIV shares. Zacks Investment Research upgraded F5 Networks from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Jefferies Group LLC restated a “hold” rating and issued a $124.00 target price on shares of F5 Networks in a research note on Thursday, August 31st. KeyCorp restated a “hold” rating on shares of F5 Networks in a research note on Wednesday, October 11th. Nomura cut their target price on F5 Networks from $120.00 to $115.00 and set a “neutral” rating for the company in a research note on Monday, October 16th. Finally, Robert W. Baird restated a “hold” rating and issued a $125.00 target price on shares of F5 Networks in a research note on Wednesday, October 4th. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and three have assigned a buy rating to the company’s stock. F5 Networks currently has an average rating of “Hold” and an average price target of $126.76.

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.

Insider Buying and Selling by Quarter for F5 Networks (NASDAQ:FFIV)

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