Millennium Management LLC reduced its stake in shares of F5 Networks, Inc. (NASDAQ:FFIV) by 79.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,720 shares of the network technology company’s stock after selling 207,895 shares during the quarter. Millennium Management LLC owned approximately 0.09% of F5 Networks worth $9,264,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of FFIV. Piedmont Investment Advisors LLC purchased a new stake in shares of F5 Networks during the second quarter valued at $119,000. Atlantic Trust Group LLC boosted its stake in shares of F5 Networks by 53.2% during the first quarter. Atlantic Trust Group LLC now owns 1,302 shares of the network technology company’s stock valued at $188,000 after purchasing an additional 452 shares during the period. Ostrum Asset Management purchased a new stake in shares of F5 Networks during the first quarter valued at $196,000. TLP Group LLC boosted its stake in shares of F5 Networks by 4,900.0% during the first quarter. TLP Group LLC now owns 1,400 shares of the network technology company’s stock valued at $202,000 after purchasing an additional 1,372 shares during the period. Finally, MANA Advisors LLC purchased a new stake in shares of F5 Networks during the first quarter valued at $202,000. 94.22% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on FFIV shares. Credit Suisse Group set a $188.00 target price on shares of F5 Networks and gave the company a “buy” rating in a research note on Friday, June 29th. Zacks Investment Research raised shares of F5 Networks from a “hold” rating to a “buy” rating and set a $198.00 target price for the company in a research note on Wednesday, July 18th. JPMorgan Chase & Co. set a $211.00 target price on shares of F5 Networks and gave the company a “buy” rating in a research note on Thursday, July 5th. Standpoint Research lowered shares of F5 Networks from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research note on Monday, June 18th. Finally, Morgan Stanley lowered shares of F5 Networks from an “equal weight” rating to an “underweight” rating and set a $130.00 price objective for the company. in a research note on Thursday, July 19th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $171.06.
F5 Networks (NASDAQ:FFIV) last released its quarterly earnings data on Wednesday, July 25th. The network technology company reported $2.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.39 by $0.05. The company had revenue of $542.20 million during the quarter, compared to analyst estimates of $540.59 million. F5 Networks had a net margin of 21.37% and a return on equity of 38.57%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.03 earnings per share. As a group, analysts anticipate that F5 Networks, Inc. will post 7.64 EPS for the current year.
In other F5 Networks news, CEO Francois Locoh-Donou sold 3,332 shares of the business’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $168.99, for a total value of $563,074.68. Following the completion of the transaction, the chief executive officer now directly owns 15,080 shares in the company, valued at $2,548,369.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael L. Dreyer sold 5,679 shares of the business’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $183.03, for a total transaction of $1,039,427.37. Following the completion of the transaction, the director now owns 5,679 shares of the company’s stock, valued at $1,039,427.37. The disclosure for this sale can be found here. Insiders sold 17,327 shares of company stock valued at $3,026,072 over the last quarter. 0.30% of the stock is currently owned by corporate insiders.
F5 Networks Company 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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