F5 Networks (NASDAQ:FFIV) had its price objective boosted by BMO Capital Markets from $188.00 to $195.00 in a research note released on Thursday, The Fly reports. BMO Capital Markets currently has an outperform rating on the network technology company’s stock.
Several other equities analysts have also issued reports on FFIV. BidaskClub upgraded F5 Networks from a buy rating to a strong-buy rating in a research report on Thursday, June 28th. Credit Suisse Group set a $188.00 price objective on F5 Networks and gave the stock a buy rating in a report on Friday, June 29th. JPMorgan Chase & Co. set a $211.00 price objective on F5 Networks and gave the stock a buy rating in a report on Thursday, July 5th. Zacks Investment Research upgraded F5 Networks from a hold rating to a buy rating and set a $198.00 price objective for the company in a report on Wednesday, July 18th. Finally, Morgan Stanley cut F5 Networks from an equal weight rating to an underweight rating and set a $130.00 price objective for the company. in a report on Thursday, July 19th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $174.94.
FFIV opened at $170.38 on Thursday. F5 Networks has a 1 year low of $119.35 and a 1 year high of $199.71. The company has a market cap of $10.36 billion, a P/E ratio of 21.03, a P/E/G ratio of 2.24 and a beta of 0.77.
In other news, Director Michael L. Dreyer sold 5,679 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $183.03, for a total value of $1,039,427.37. Following the completion of the transaction, the director now owns 5,679 shares in the company, valued at approximately $1,039,427.37. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Francois Locoh-Donou sold 2,407 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $171.69, for a total value of $413,257.83. Following the completion of the transaction, the chief executive officer now owns 12,673 shares of the company’s stock, valued at approximately $2,175,827.37. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,787 shares of company stock valued at $2,592,646. 0.26% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in FFIV. Piedmont Investment Advisors LLC purchased a new position in shares of F5 Networks in the 2nd quarter valued at approximately $119,000. Truvestments Capital LLC purchased a new position in shares of F5 Networks in the 3rd quarter valued at approximately $123,000. Qube Research & Technologies Ltd purchased a new position in shares of F5 Networks in the 2nd quarter valued at approximately $131,000. Atlantic Trust Group LLC lifted its stake in shares of F5 Networks by 53.2% in the 1st 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. Finally, Advisor Partners LLC purchased a new position in shares of F5 Networks in the 2nd quarter valued at approximately $202,000. Institutional investors own 96.24% of the company’s stock.
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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