F5 Networks, Inc. (FFIV) Shares Gap Down Following Analyst Downgrade

F5 Networks, Inc. (NASDAQ:FFIV)’s share price gapped down before the market opened on Friday after Morgan Stanley lowered their price target on the stock from $136.00 to $130.00. The stock had previously closed at $127.97, but opened at $126.99. Morgan Stanley currently has an equal weight rating on the stock. F5 Networks shares last traded at $129.01, with a volume of 644,066 shares traded.

A number of other equities analysts have also recently commented on FFIV. Zacks Investment Research cut F5 Networks from a “buy” rating to a “hold” rating in a report on Wednesday, January 18th. Drexel Hamilton reissued a “buy” rating and set a $160.00 price target on shares of F5 Networks in a report on Monday, January 23rd. Wunderlich reissued a “hold” rating and set a $130.00 price target on shares of F5 Networks in a report on Tuesday, January 24th. Jefferies Group LLC reissued a “hold” rating and set a $130.00 price target (up previously from $120.00) on shares of F5 Networks in a report on Tuesday, January 24th. Finally, Needham & Company LLC reissued an “in-line” rating on shares of F5 Networks in a report on Thursday, January 26th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $135.44.

In other F5 Networks news, EVP John D. Dilullo sold 3,420 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $127.62, for a total value of $436,460.40. Following the transaction, the executive vice president now owns 4,926 shares in the company, valued at $628,656.12. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Andrew Reinland sold 6,235 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $127.40, for a total value of $794,339.00. Following the completion of the transaction, the chief financial officer now owns 18,602 shares in the company, valued at approximately $2,369,894.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,146 shares of company stock worth $3,234,190. 0.26% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in FFIV. Vanguard Group Inc. raised its position in shares of F5 Networks by 2.7% in the first quarter. Vanguard Group Inc. now owns 6,400,279 shares of the network technology company’s stock valued at $912,487,000 after buying an additional 168,528 shares during the last quarter. BlackRock Inc. raised its position in shares of F5 Networks by 2,108.1% in the first quarter. BlackRock Inc. now owns 4,404,873 shares of the network technology company’s stock valued at $628,003,000 after buying an additional 4,205,384 shares during the last quarter. Harding Loevner LP raised its position in shares of F5 Networks by 3.2% in the first quarter. Harding Loevner LP now owns 1,907,775 shares of the network technology company’s stock valued at $271,992,000 after buying an additional 58,469 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of F5 Networks by 18.9% in the fourth quarter. Renaissance Technologies LLC now owns 1,804,874 shares of the network technology company’s stock valued at $261,201,000 after buying an additional 286,800 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of F5 Networks by 36.8% in the first quarter. Bank of Montreal Can now owns 1,745,173 shares of the network technology company’s stock valued at $248,809,000 after buying an additional 469,449 shares during the last quarter. Institutional investors and hedge funds own 94.20% of the company’s stock.

The company has a 50 day moving average of $133.63 and a 200 day moving average of $140.17. The company has a market capitalization of $8.23 billion, a PE ratio of 21.70 and a beta of 1.33.

F5 Networks (NASDAQ:FFIV) last issued its quarterly earnings results on Wednesday, April 26th. The network technology company reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by $0.06. F5 Networks had a return on equity of 32.62% and a net margin of 18.32%. The company had revenue of $518.20 million during the quarter, compared to the consensus estimate of $523.12 million. During the same period in the prior year, the firm earned $1.68 earnings per share. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, analysts predict that F5 Networks, Inc. will post $8.20 EPS for the current year.

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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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