F5 Networks, Inc. (NASDAQ:FFIV) – Investment analysts at DA Davidson lifted their Q2 2018 earnings estimates for F5 Networks in a research report issued to clients and investors on Wednesday. DA Davidson analyst M. Kelleher now expects that the network technology company will post earnings per share of $1.67 for the quarter, up from their prior estimate of $1.66. DA Davidson currently has a “Buy” rating and a $155.00 price target on the stock. DA Davidson also issued estimates for F5 Networks’ Q3 2018 earnings at $1.75 EPS.
F5 Networks (NASDAQ:FFIV) last posted its quarterly earnings data on Wednesday, October 25th. The network technology company reported $2.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.20 by $0.24. The business had revenue of $538.00 million for the quarter, compared to analysts’ expectations of $534.71 million. F5 Networks had a net margin of 20.13% and a return on equity of 34.70%. The business’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.11 earnings per share.
Shares of F5 Networks (NASDAQ FFIV) traded down $1.55 on Friday, hitting $138.00. 568,200 shares of the stock were exchanged, compared to its average volume of 590,992. The stock has a market capitalization of $8,820.00, a price-to-earnings ratio of 21.20, a P/E/G ratio of 2.16 and a beta of 1.06. F5 Networks has a 1 year low of $114.63 and a 1 year high of $149.50.
Hedge funds have recently added to or reduced their stakes in the business. Koch Industries Inc. acquired a new position in shares of F5 Networks during the second quarter valued at about $832,000. Macquarie Group Ltd. increased its holdings in shares of F5 Networks by 21.1% during the third quarter. Macquarie Group Ltd. now owns 6,900 shares of the network technology company’s stock valued at $831,000 after acquiring an additional 1,200 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of F5 Networks by 3.4% during the third quarter. California Public Employees Retirement System now owns 168,309 shares of the network technology company’s stock valued at $20,291,000 after acquiring an additional 5,509 shares in the last quarter. Laurion Capital Management LP acquired a new position in shares of F5 Networks during the second quarter valued at about $2,115,000. Finally, SG Americas Securities LLC increased its holdings in shares of F5 Networks by 80.6% during the third quarter. SG Americas Securities LLC now owns 15,205 shares of the network technology company’s stock valued at $1,833,000 after acquiring an additional 6,786 shares in the last quarter. 94.87% of the stock is owned by institutional investors and hedge funds.
In other F5 Networks news, CEO Francois Locoh-Donou sold 1,714 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $119.87, for a total transaction of $205,457.18. Following the completion of the sale, the chief executive officer now directly owns 2,119 shares of the company’s stock, valued at $254,004.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Edward Julian Eames sold 15,336 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $121.06, for a total transaction of $1,856,576.16. Following the sale, the executive vice president now directly owns 43,824 shares of the company’s stock, valued at $5,305,333.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,712 shares of company stock valued at $4,316,345. Insiders own 0.26% of the company’s stock.
F5 Networks declared that its board has initiated a stock buyback plan on Wednesday, October 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the network technology company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
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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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