Pacer Advisors Inc. increased its holdings in F5 Networks, Inc. (NASDAQ:FFIV) by 75.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,659 shares of the network technology company’s stock after buying an additional 3,300 shares during the period. Pacer Advisors Inc.’s holdings in F5 Networks were worth $1,527,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of FFIV. BlackRock Inc. grew its stake in shares of F5 Networks by 1.7% in the third quarter. BlackRock Inc. now owns 5,156,859 shares of the network technology company’s stock worth $1,028,380,000 after purchasing an additional 85,994 shares during the last quarter. Renaissance Technologies LLC grew its position in F5 Networks by 11.7% in the 3rd quarter. Renaissance Technologies LLC now owns 2,019,774 shares of the network technology company’s stock worth $402,783,000 after purchasing an additional 211,800 shares during the period. Bank of Montreal Can grew its position in F5 Networks by 1.3% in the 3rd quarter. Bank of Montreal Can now owns 1,391,872 shares of the network technology company’s stock worth $277,567,000 after purchasing an additional 18,476 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd grew its position in F5 Networks by 42.5% in the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,098,760 shares of the network technology company’s stock worth $219,114,000 after purchasing an additional 327,447 shares during the period. Finally, First Trust Advisors LP grew its position in shares of F5 Networks by 45.1% during the 3rd quarter. First Trust Advisors LP now owns 886,850 shares of the network technology company’s stock valued at $176,856,000 after acquiring an additional 275,849 shares during the period. Institutional investors own 97.41% of the company’s stock.
FFIV stock traded down $1.87 during mid-day trading on Friday, hitting $163.73. The company had a trading volume of 885,698 shares, compared to its average volume of 774,263. The stock has a market cap of $10.07 billion, a P/E ratio of 20.47, a PEG ratio of 1.96 and a beta of 0.89. F5 Networks, Inc. has a 12-month low of $133.14 and a 12-month high of $199.71.
F5 Networks (NASDAQ:FFIV) last announced its quarterly earnings results on Wednesday, October 24th. The network technology company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.63 by $0.27. The business 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, research analysts forecast that F5 Networks, Inc. will post 8.55 EPS for the current fiscal year.
A number of equities research analysts have recently issued reports on FFIV shares. BMO Capital Markets boosted their price objective on shares of F5 Networks from $188.00 to $195.00 and gave the company an “outperform” rating in a research report on Thursday, October 25th. Zacks Investment Research reissued a “buy” rating and set a $189.00 price objective on shares of F5 Networks in a research report on Tuesday, November 13th. Piper Jaffray Companies downgraded shares of F5 Networks from a “neutral” rating to an “underweight” rating and boosted their price objective for the company from $168.00 to $180.00 in a research report on Monday, October 1st. MKM Partners boosted their price objective on shares of F5 Networks to $190.00 and gave the company a “neutral” rating in a research report on Friday, October 26th. Finally, BidaskClub downgraded shares of F5 Networks from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 4th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. F5 Networks has a consensus rating of “Hold” and a consensus target price of $174.18.
In other news, SVP Ryan C. Kearny sold 8,226 shares of F5 Networks stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $177.90, for a total value of $1,463,405.40. Following the sale, the senior vice president now owns 14,139 shares in the company, valued at $2,515,328.10. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Scot Frazier Rogers sold 13,557 shares of F5 Networks stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $177.91, for a total transaction of $2,411,925.87. Following the completion of the sale, the executive vice president now owns 22,141 shares in the company, valued at approximately $3,939,105.31. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,012 shares of company stock worth $8,473,168. Insiders own 0.30% of the company’s stock.
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About F5 Networks
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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