Investors Sell F5 Networks (FFIV) on Strength (FFIV)

Traders sold shares of F5 Networks, Inc. (NASDAQ:FFIV) on strength during trading hours on Wednesday. $19.81 million flowed into the stock on the tick-up and $42.26 million flowed out of the stock on the tick-down, for a money net flow of $22.45 million out of the stock. Of all equities tracked, F5 Networks had the 0th highest net out-flow for the day. F5 Networks traded up $1.46 for the day and closed at $134.04

FFIV has been the topic of several recent analyst reports. Morgan Stanley reduced their price target on F5 Networks from $130.00 to $120.00 and set an “equal weight” rating on the stock in a report on Monday, October 9th. Drexel Hamilton reiterated a “buy” rating and issued a $160.00 price target on shares of F5 Networks in a report on Monday, October 23rd. Nomura reduced their price target on F5 Networks from $120.00 to $115.00 and set a “neutral” rating on the stock in a report on Monday, October 16th. Standpoint Research initiated coverage on F5 Networks in a report on Monday, October 2nd. They issued an “accumulate” rating and a $160.00 price target on the stock. Finally, Oppenheimer reiterated a “hold” rating on shares of F5 Networks in a report on Tuesday, September 12th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have issued a buy rating to the company’s stock. F5 Networks presently has an average rating of “Hold” and a consensus price target of $125.94.

The firm has a market cap of $8,390.04, a P/E ratio of 21.00, a PEG ratio of 2.13 and a beta of 1.06.

F5 Networks (NASDAQ:FFIV) last announced its quarterly earnings data on Wednesday, October 25th. The network technology company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.24. The company had revenue of $538.00 million for the quarter, compared to analysts’ expectations of $534.71 million. F5 Networks had a return on equity of 34.70% and a net margin of 20.13%. F5 Networks’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.11 earnings per share. equities analysts predict that F5 Networks, Inc. will post 6.7 earnings per share for the current fiscal year.

F5 Networks announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the network technology company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

In other F5 Networks news, EVP Edward Julian Eames sold 15,336 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $121.06, for a total transaction of $1,856,576.16. Following the sale, the executive vice president now owns 43,824 shares of the company’s stock, valued at approximately $5,305,333.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andrew Reinland sold 2,241 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $121.03, for a total value of $271,228.23. Following the sale, the chief financial officer now directly owns 15,369 shares in the company, valued at approximately $1,860,110.07. The disclosure for this sale can be found here. Insiders have sold a total of 35,712 shares of company stock worth $4,316,345 in the last ninety days. Insiders own 0.26% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Investec Asset Management LTD boosted its position in shares of F5 Networks by 33.5% in the 2nd quarter. Investec Asset Management LTD now owns 53,012 shares of the network technology company’s stock worth $6,736,000 after purchasing an additional 13,306 shares in the last quarter. Koch Industries Inc. acquired a new stake in shares of F5 Networks in the 2nd quarter worth $832,000. Macquarie Group Ltd. boosted its position in shares of F5 Networks by 21.1% in the 3rd quarter. Macquarie Group Ltd. now owns 6,900 shares of the network technology company’s stock worth $831,000 after purchasing an additional 1,200 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in shares of F5 Networks in the 2nd quarter worth $4,854,000. Finally, Laurion Capital Management LP acquired a new stake in shares of F5 Networks in the 2nd quarter worth $2,115,000. 94.66% of the stock is currently owned by institutional investors and hedge funds.

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About F5 Networks

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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