F5 Networks (NASDAQ:FFIV)‘s stock had its “buy” rating restated by research analysts at DA Davidson in a report issued on Thursday. They currently have a $167.00 target price on the network technology company’s stock. DA Davidson’s price objective would suggest a potential upside of 20.80% from the stock’s previous close.
A number of other research analysts have also weighed in on FFIV. Morgan Stanley raised their target price on shares of F5 Networks from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Piper Jaffray Companies reissued a “neutral” rating and issued a $146.00 target price on shares of F5 Networks in a research note on Wednesday, January 10th. Robert W. Baird reissued a “hold” rating and issued a $125.00 target price on shares of F5 Networks in a research note on Wednesday, October 4th. Cowen reissued a “buy” rating and issued a $140.00 target price on shares of F5 Networks in a research note on Friday, October 27th. Finally, KeyCorp reissued a “hold” rating on shares of F5 Networks in a research note on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $140.05.
Shares of F5 Networks (NASDAQ FFIV) traded up $3.30 during trading on Thursday, reaching $138.24. 1,975,759 shares of the company were exchanged, compared to its average volume of 692,736. The stock has a market cap of $9,000.00, a price-to-earnings ratio of 21.30, a PEG ratio of 2.15 and a beta of 1.06. F5 Networks has a 1 year low of $114.63 and a 1 year high of $149.50.
F5 Networks announced that its Board of Directors has initiated a share buyback program on Wednesday, October 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the network technology company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, CFO Andrew Reinland sold 2,241 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $121.03, for a total transaction of $271,228.23. Following the completion of the sale, the chief financial officer now owns 15,369 shares in the company, valued at approximately $1,860,110.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Francois Locoh-Donou sold 1,714 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $119.87, for a total transaction of $205,457.18. Following the sale, the chief executive officer now owns 2,119 shares of the company’s stock, valued at approximately $254,004.53. The disclosure for this sale can be found here. Insiders have sold a total of 35,712 shares of company stock valued at $4,316,345 in the last 90 days. Insiders own 0.26% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of F5 Networks by 23.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 860 shares of the network technology company’s stock worth $110,000 after buying an additional 161 shares during the last quarter. Zions Bancorporation increased its holdings in F5 Networks by 16,733.3% in the 3rd quarter. Zions Bancorporation now owns 1,010 shares of the network technology company’s stock valued at $122,000 after purchasing an additional 1,004 shares during the last quarter. Institute for Wealth Management LLC. acquired a new stake in F5 Networks in the 2nd quarter valued at approximately $234,000. Cadence Capital Management LLC acquired a new stake in F5 Networks in the 3rd quarter valued at approximately $241,000. Finally, QCM Cayman Ltd. increased its holdings in F5 Networks by 14.8% in the 2nd quarter. QCM Cayman Ltd. now owns 1,937 shares of the network technology company’s stock valued at $246,000 after purchasing an additional 250 shares during the last quarter. Institutional investors and hedge funds own 94.65% of the company’s stock.
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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.
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