Washington Capital Management Inc. grew its stake in F5 Networks, Inc. (NASDAQ:FFIV) by 33.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,000 shares of the network technology company’s stock after acquiring an additional 750 shares during the period. Washington Capital Management Inc.’s holdings in F5 Networks were worth $437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently modified their holdings of the company. Swedbank increased its position in F5 Networks by 11.8% during the first quarter. Swedbank now owns 892,194 shares of the network technology company’s stock worth $140,012,000 after acquiring an additional 93,984 shares during the period. Investec Asset Management LTD increased its position in F5 Networks by 1.0% during the second quarter. Investec Asset Management LTD now owns 126,695 shares of the network technology company’s stock worth $18,451,000 after acquiring an additional 1,232 shares during the period. Toronto Dominion Bank increased its position in F5 Networks by 15.8% during the first quarter. Toronto Dominion Bank now owns 38,847 shares of the network technology company’s stock worth $6,095,000 after acquiring an additional 5,314 shares during the period. Synovus Financial Corp increased its position in F5 Networks by 12.9% during the first quarter. Synovus Financial Corp now owns 2,024 shares of the network technology company’s stock worth $314,000 after acquiring an additional 231 shares during the period. Finally, Zions Bancorporation N.A. bought a new position in F5 Networks during the first quarter worth about $166,000. 90.75% of the stock is currently owned by institutional investors.
In other news, CEO Francois Locoh-Donou sold 4,037 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $142.72, for a total value of $576,160.64. Following the sale, the chief executive officer now directly owns 38,113 shares in the company, valued at approximately $5,439,487.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Thomas Dean Fountain sold 1,393 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $138.94, for a total transaction of $193,543.42. Following the completion of the sale, the executive vice president now owns 2,899 shares in the company, valued at $402,787.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,203 shares of company stock worth $1,590,308. 0.22% of the stock is currently owned by corporate insiders.
F5 Networks (NASDAQ:FFIV) last announced its quarterly earnings data on Wednesday, July 24th. The network technology company reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.06). The firm had revenue of $563.39 million for the quarter, compared to analyst estimates of $556.15 million. F5 Networks had a return on equity of 36.33% and a net margin of 21.03%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.44 earnings per share. On average, sell-side analysts predict that F5 Networks, Inc. will post 8.22 earnings per share for the current year.
A number of equities analysts recently commented on the stock. Credit Suisse Group raised their price target on shares of F5 Networks from $188.00 to $191.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Morgan Stanley raised shares of F5 Networks from an “underweight” rating to an “equal weight” rating and set a $130.00 price target on the stock in a research report on Thursday, August 8th. Goldman Sachs Group lowered shares of F5 Networks from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $165.00 to $120.00 in a research report on Monday, July 8th. ValuEngine raised shares of F5 Networks from a “sell” rating to a “hold” rating in a research report on Saturday, July 27th. Finally, BidaskClub downgraded shares of F5 Networks from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $164.06.
F5 Networks 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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