American International Group Inc. boosted its holdings in F5 Networks, Inc. (NASDAQ:FFIV) by 6.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,879 shares of the network technology company’s stock after acquiring an additional 1,230 shares during the quarter. American International Group Inc.’s holdings in F5 Networks were worth $4,363,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of FFIV. BlackRock Inc. increased its stake in F5 Networks by 10.5% in the second quarter. BlackRock Inc. now owns 5,070,865 shares of the network technology company’s stock valued at $874,472,000 after acquiring an additional 481,489 shares during the period. Janus Henderson Group PLC increased its stake in F5 Networks by 285.4% in the third quarter. Janus Henderson Group PLC now owns 572,454 shares of the network technology company’s stock valued at $114,159,000 after acquiring an additional 423,915 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in F5 Networks by 138.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 639,008 shares of the network technology company’s stock valued at $127,430,000 after acquiring an additional 370,827 shares during the period. Assenagon Asset Management S.A. increased its stake in F5 Networks by 632.0% in the third quarter. Assenagon Asset Management S.A. now owns 400,039 shares of the network technology company’s stock valued at $79,776,000 after acquiring an additional 345,391 shares during the period. Finally, Swedbank increased its stake in F5 Networks by 110.7% in the third quarter. Swedbank now owns 653,173 shares of the network technology company’s stock valued at $130,256,000 after acquiring an additional 343,240 shares during the period. 98.54% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Francois Locoh-Donou sold 8,530 shares of the stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $178.04, for a total transaction of $1,518,681.20. Following the sale, the chief executive officer now directly owns 21,961 shares of the company’s stock, valued at $3,909,936.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Deborah L. Bevier sold 2,540 shares of the stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $181.25, for a total transaction of $460,375.00. Following the sale, the director now directly owns 7,152 shares in the company, valued at $1,296,300. The disclosure for this sale can be found here. Insiders have sold 48,012 shares of company stock worth $8,473,168 over the last ninety days. Insiders own 0.26% of the company’s stock.
Shares of F5 Networks stock opened at $165.32 on Friday. The stock has a market cap of $10.28 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 2.02 and a beta of 0.95. F5 Networks, Inc. has a 1-year low of $129.70 and a 1-year high of $199.71.
F5 Networks (NASDAQ:FFIV) last issued its quarterly earnings data on Wednesday, October 24th. The network technology company reported $2.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.63 by $0.27. The firm had revenue of $562.71 million for the quarter, compared to analysts’ expectations of $560.72 million. F5 Networks had a net margin of 20.99% and a return on equity of 40.04%. On average, sell-side analysts predict that F5 Networks, Inc. will post 8.48 EPS for the current fiscal year.
FFIV has been the topic of a number of analyst reports. Credit Suisse Group upped their target price on shares of F5 Networks from $188.00 to $216.00 and gave the company an “outperform” rating in a research note on Wednesday, September 5th. Zacks Investment Research reissued a “buy” rating and issued a $189.00 target price on shares of F5 Networks in a research note on Tuesday, November 13th. Piper Jaffray Companies cut shares of F5 Networks from a “neutral” rating to an “underweight” rating and upped their target price for the company from $168.00 to $180.00 in a research note on Monday, October 1st. MKM Partners upped their target price on shares of F5 Networks to $190.00 and gave the company a “neutral” rating in a research note on Friday, October 26th. Finally, BidaskClub cut shares of F5 Networks from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 4th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $174.41.
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F5 Networks Company Profile
F5 Networks, Inc develops, markets, and sells application delivery networking products that optimize the security, performance, and availability of network applications, servers, and storage systems. The company's primary application delivery technology is Traffic Management Operating System (TMOS) that enable company's products to intercept, inspect, and act on the contents of traffic from virtually each type of Internet Protocol-enabled application.
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