Principal Financial Group Inc. Sells 3,884 Shares of F5 Networks, Inc. (NASDAQ:FFIV)


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Principal Financial Group Inc. lowered its position in shares of F5 Networks, Inc. (NASDAQ:FFIV) by 4.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 84,182 shares of the network technology company’s stock after selling 3,884 shares during the period. Principal Financial Group Inc. owned about 0.14% of F5 Networks worth $14,811,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of FFIV. Mariner LLC bought a new stake in F5 Networks during the 4th quarter worth $66,257,000. Swedbank grew its position in F5 Networks by 29.2% during the 4th quarter. Swedbank now owns 1,399,796 shares of the network technology company’s stock worth $245,888,000 after acquiring an additional 316,694 shares during the last quarter. Alliancebernstein L.P. grew its position in F5 Networks by 24.7% during the 4th quarter. Alliancebernstein L.P. now owns 1,103,313 shares of the network technology company’s stock worth $194,117,000 after acquiring an additional 218,555 shares during the last quarter. Artemis Investment Management LLP bought a new stake in F5 Networks during the 4th quarter worth $26,160,000. Finally, Wells Fargo & Company MN lifted its holdings in F5 Networks by 41.3% during the 4th quarter. Wells Fargo & Company MN now owns 502,878 shares of the network technology company’s stock worth $88,476,000 after buying an additional 146,881 shares during the period. Institutional investors and hedge funds own 90.69% of the company’s stock.

Shares of F5 Networks stock opened at $207.20 on Tuesday. F5 Networks, Inc. has a one year low of $116.79 and a one year high of $216.15. The firm has a market capitalization of $12.77 billion, a price-to-earnings ratio of 41.27, a PEG ratio of 2.33 and a beta of 1.13. The business has a 50-day simple moving average of $200.14 and a 200 day simple moving average of $174.45. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.39 and a quick ratio of 1.37.

F5 Networks (NASDAQ:FFIV) last issued its earnings results on Monday, January 25th. The network technology company reported $2.59 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.14. F5 Networks had a return on equity of 19.72% and a net margin of 13.08%. The business had revenue of $625.90 million during the quarter, compared to analyst estimates of $624.01 million. During the same period in the previous year, the company posted $2.55 EPS. The firm’s revenue was up 9.9% compared to the same quarter last year. On average, sell-side analysts expect that F5 Networks, Inc. will post 7.16 EPS for the current year.

FFIV has been the topic of several recent research reports. Morgan Stanley lifted their target price on F5 Networks from $205.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, January 27th. Smith Barney Citigroup lifted their target price on F5 Networks from $165.00 to $190.00 in a report on Friday, January 8th. Barclays lifted their target price on F5 Networks from $212.00 to $235.00 and gave the stock an “overweight” rating in a report on Thursday, January 14th. Piper Sandler lifted their target price on F5 Networks from $216.00 to $223.00 in a report on Tuesday, March 2nd. Finally, Royal Bank of Canada boosted their price objective on F5 Networks from $182.00 to $200.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $195.78.

In other F5 Networks news, EVP Ana Maria White sold 258 shares of the business’s stock in a transaction that occurred on Thursday, April 1st. The stock was sold at an average price of $210.44, for a total transaction of $54,293.52. Following the completion of the sale, the executive vice president now directly owns 17,346 shares of the company’s stock, valued at approximately $3,650,292.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Francis J. Pelzer sold 500 shares of the business’s stock in a transaction that occurred on Friday, January 15th. The stock was sold at an average price of $192.57, for a total value of $96,285.00. Following the sale, the chief financial officer now directly owns 10,931 shares of the company’s stock, valued at $2,104,982.67. The disclosure for this sale can be found here. Insiders sold a total of 16,794 shares of company stock valued at $3,340,367 over the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

About F5 Networks

F5 Networks, Inc provides multi-cloud application services for the security, performance, and availability of network applications, servers, and storage systems. The company's multi-cloud application services enable its customers to develop, deploy, operate, secure, and govern applications in any architecture, from on-premises to the public cloud.

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Institutional Ownership by Quarter for F5 Networks (NASDAQ:FFIV)

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