Robeco Institutional Asset Management B.V. raised its stake in shares of F5 Networks, Inc. (NASDAQ:FFIV) by 138.3% in the third quarter, Holdings Channel reports. The firm owned 639,008 shares of the network technology company’s stock after buying an additional 370,827 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in F5 Networks were worth $127,430,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Moody Aldrich Partners LLC acquired a new position in F5 Networks during the 2nd quarter valued at about $54,839,000. Cascade Investment Advisors Inc. boosted its stake in F5 Networks by 5.5% during the 3rd quarter. Cascade Investment Advisors Inc. now owns 6,270 shares of the network technology company’s stock valued at $1,250,000 after purchasing an additional 325 shares during the last quarter. OppenheimerFunds Inc. boosted its stake in F5 Networks by 28.8% during the 2nd quarter. OppenheimerFunds Inc. now owns 1,804 shares of the network technology company’s stock valued at $311,000 after purchasing an additional 403 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in F5 Networks by 28.9% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 1,868 shares of the network technology company’s stock valued at $322,000 after purchasing an additional 419 shares during the last quarter. Finally, Nepsis Inc. boosted its stake in F5 Networks by 1.0% during the 2nd quarter. Nepsis Inc. now owns 41,811 shares of the network technology company’s stock valued at $7,210,000 after purchasing an additional 419 shares during the last quarter. Institutional investors and hedge funds own 98.20% of the company’s stock.
F5 Networks stock opened at $183.24 on Friday. F5 Networks, Inc. has a 52 week low of $119.40 and a 52 week high of $199.71. The company has a market cap of $11.46 billion, a price-to-earnings ratio of 22.91, a PEG ratio of 2.24 and a beta of 0.95.
F5 Networks (NASDAQ:FFIV) last posted its earnings results on Wednesday, October 24th. The network technology company reported $2.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.63 by $0.27. The firm had revenue of $562.71 million for the quarter, compared to analysts’ expectations of $560.72 million. F5 Networks had a net margin of 20.99% and a return on equity of 40.04%. On average, sell-side analysts forecast that F5 Networks, Inc. will post 8.48 earnings per share for the current year.
A number of equities analysts have issued reports on FFIV shares. Zacks Investment Research upgraded F5 Networks from a “hold” rating to a “buy” rating and set a $198.00 price target for the company in a research note on Wednesday, July 18th. Credit Suisse Group lifted their price target on F5 Networks from $188.00 to $216.00 and gave the company an “outperform” rating in a research note on Wednesday, September 5th. Piper Jaffray Companies downgraded F5 Networks from a “neutral” rating to an “underweight” rating and lifted their price target for the company from $168.00 to $180.00 in a research note on Monday, October 1st. Morgan Stanley cut shares of F5 Networks from an “equal weight” rating to an “underweight” rating and set a $130.00 target price on the stock. in a research report on Thursday, July 19th. Finally, BidaskClub cut shares of F5 Networks from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 4th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $174.94.
In related news, CEO Francois Locoh-Donou sold 6,118 shares of F5 Networks stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $177.32, for a total value of $1,084,843.76. Following the sale, the chief executive officer now owns 21,961 shares of the company’s stock, valued at approximately $3,894,124.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scot Frazier Rogers sold 13,557 shares of F5 Networks stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $177.91, for a total transaction of $2,411,925.87. Following the completion of the sale, the executive vice president now directly owns 22,141 shares in the company, valued at approximately $3,939,105.31. The disclosure for this sale can be found here. Insiders sold a total of 44,694 shares of company stock worth $7,986,951 in the last ninety days. 0.26% of the stock is currently owned by insiders.
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About F5 Networks
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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