Northern Trust Corp reduced its position in shares of F5 Networks, Inc. (NASDAQ:FFIV) by 13.8% during the first quarter, HoldingsChannel reports. The firm owned 777,378 shares of the network technology company’s stock after selling 124,074 shares during the period. Northern Trust Corp’s holdings in F5 Networks were worth $121,994,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FFIV. Lindbrook Capital LLC bought a new position in shares of F5 Networks during the fourth quarter valued at about $26,000. Atlas Capital Advisors LLC lifted its position in shares of F5 Networks by 306.5% during the first quarter. Atlas Capital Advisors LLC now owns 187 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 141 shares in the last quarter. Rational Advisors LLC lifted its position in shares of F5 Networks by 2,009.1% during the fourth quarter. Rational Advisors LLC now owns 232 shares of the network technology company’s stock valued at $38,000 after purchasing an additional 221 shares in the last quarter. Global Trust Asset Management LLC bought a new position in shares of F5 Networks during the first quarter valued at about $41,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of F5 Networks during the fourth quarter valued at about $48,000. 97.15% of the stock is currently owned by institutional investors.
Several brokerages have commented on FFIV. JPMorgan Chase & Co. lowered shares of F5 Networks from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $210.00 to $183.00 in a research report on Tuesday, March 12th. BidaskClub lowered shares of F5 Networks from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. DA Davidson lowered their price objective on shares of F5 Networks to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 13th. Zacks Investment Research raised shares of F5 Networks from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Finally, William Blair reaffirmed a “market perform” rating on shares of F5 Networks in a research report on Tuesday, March 12th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. F5 Networks presently has an average rating of “Hold” and a consensus target price of $172.13.
F5 Networks (NASDAQ:FFIV) last announced its quarterly earnings data on Wednesday, April 24th. The network technology company reported $2.04 EPS for the quarter, topping the consensus estimate of $2.03 by $0.01. The business had revenue of $544.90 million for the quarter, compared to analyst estimates of $547.03 million. F5 Networks had a net margin of 22.91% and a return on equity of 39.13%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.31 earnings per share. On average, equities analysts forecast that F5 Networks, Inc. will post 8.59 EPS for the current year.
In other news, SVP Ryan C. Kearny sold 3,825 shares of F5 Networks stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $153.99, for a total value of $589,011.75. Following the completion of the transaction, the senior vice president now owns 10,978 shares in the company, valued at $1,690,502.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas Dean Fountain sold 188 shares of F5 Networks stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $143.61, for a total transaction of $26,998.68. Following the completion of the transaction, the executive vice president now owns 1,729 shares of the company’s stock, valued at approximately $248,301.69. The disclosure for this sale can be found here. Insiders sold 10,168 shares of company stock valued at $1,546,472 in the last quarter. Corporate insiders own 0.22% of the company’s stock.
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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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