Quantum Capital Management lowered its stake in shares of F5 Networks, Inc. (NASDAQ:FFIV) by 7.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,271 shares of the network technology company’s stock after selling 182 shares during the period. Quantum Capital Management’s holdings in F5 Networks were worth $289,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Acrospire Investment Management LLC raised its stake in shares of F5 Networks by 100.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 800 shares of the network technology company’s stock worth $102,000 after purchasing an additional 400 shares in the last quarter. IFP Advisors Inc raised its stake in shares of F5 Networks by 65.6% during the 2nd quarter. IFP Advisors Inc now owns 959 shares of the network technology company’s stock worth $122,000 after purchasing an additional 380 shares in the last quarter. American Beacon Advisors Inc. bought a new stake in shares of F5 Networks during the 1st quarter worth approximately $153,000. Van ECK Associates Corp raised its stake in shares of F5 Networks by 6.0% during the 1st quarter. Van ECK Associates Corp now owns 1,153 shares of the network technology company’s stock worth $164,000 after purchasing an additional 65 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. raised its stake in shares of F5 Networks by 1.5% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,397 shares of the network technology company’s stock worth $178,000 after purchasing an additional 21 shares in the last quarter. Institutional investors own 96.50% of the company’s stock.
FFIV has been the topic of a number of analyst reports. Royal Bank Of Canada reiterated a “hold” rating and set a $132.00 price objective on shares of F5 Networks in a research note on Monday, May 29th. Cowen and Company reiterated an “outperform” rating and set a $145.00 price objective on shares of F5 Networks in a research note on Monday, June 5th. Jefferies Group LLC reissued a “hold” rating and set a $130.00 target price on shares of F5 Networks in a report on Friday, June 16th. Piper Jaffray Companies lowered F5 Networks from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $144.00 to $136.00 in a report on Friday, July 14th. Finally, Drexel Hamilton reissued a “buy” rating and set a $160.00 target price on shares of F5 Networks in a report on Friday, July 21st. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. F5 Networks currently has an average rating of “Hold” and a consensus price target of $130.81.
In other news, EVP Ryan C. Kearny sold 836 shares of F5 Networks stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $120.59, for a total value of $100,813.24. Following the completion of the transaction, the executive vice president now directly owns 2,148 shares in the company, valued at $259,027.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Edward Julian Eames sold 4,378 shares of F5 Networks stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $120.63, for a total value of $528,118.14. Following the completion of the transaction, the chief operating officer now owns 35,088 shares of the company’s stock, valued at $4,232,665.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,312 shares of company stock valued at $2,675,607. 0.26% of the stock is owned by company insiders.
F5 Networks (NASDAQ:FFIV) last announced its quarterly earnings results on Wednesday, July 26th. The network technology company reported $2.03 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $2.03. The company had revenue of $517.80 million during the quarter, compared to analysts’ expectations of $525.57 million. F5 Networks had a return on equity of 33.85% and a net margin of 18.96%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.81 earnings per share.
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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