Washington Capital Management Inc. grew its stake in F5 Networks, Inc. (NASDAQ:FFIV) by 33.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,000 shares of the network technology company’s stock after acquiring an additional 750 shares during the period. Washington Capital Management Inc.’s holdings in F5 Networks were worth $437,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Guinness Asset Management Ltd raised its stake in shares of F5 Networks by 66.7% during the second quarter. Guinness Asset Management Ltd now owns 170 shares of the network technology company’s stock worth $25,000 after buying an additional 68 shares during the last quarter. Atlas Capital Advisors LLC raised its stake in shares of F5 Networks by 306.5% during the first quarter. Atlas Capital Advisors LLC now owns 187 shares of the network technology company’s stock worth $29,000 after buying an additional 141 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of F5 Networks during the second quarter worth approximately $37,000. Tortoise Index Solutions LLC bought a new stake in shares of F5 Networks during the first quarter worth approximately $66,000. Finally, Quantamental Technologies LLC raised its stake in shares of F5 Networks by 8,620.0% during the first quarter. Quantamental Technologies LLC now owns 872 shares of the network technology company’s stock worth $137,000 after buying an additional 862 shares during the last quarter. 90.75% of the stock is owned by institutional investors.
FFIV has been the subject of a number of recent research reports. Barclays initiated coverage on shares of F5 Networks in a research note on Wednesday, August 7th. They set an “overweight” rating and a $160.00 price target for the company. Credit Suisse Group boosted their price target on shares of F5 Networks from $188.00 to $191.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Zacks Investment Research downgraded shares of F5 Networks from a “hold” rating to a “sell” rating and set a $162.00 price target for the company. in a research note on Monday, July 29th. ValuEngine raised shares of F5 Networks from a “sell” rating to a “hold” rating in a research note on Saturday, July 27th. Finally, Goldman Sachs Group downgraded shares of F5 Networks from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $165.00 to $120.00 in a research note on Monday, July 8th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $164.06.
NASDAQ FFIV traded down $4.96 during trading on Friday, reaching $124.39. 435,500 shares of the stock traded hands, compared to its average volume of 696,821. The firm has a market cap of $7.78 billion, a price-to-earnings ratio of 15.55, a price-to-earnings-growth ratio of 1.87 and a beta of 1.05. The stock’s 50-day moving average price is $140.52 and its 200 day moving average price is $150.51. F5 Networks, Inc. has a fifty-two week low of $123.91 and a fifty-two week high of $199.71.
F5 Networks (NASDAQ:FFIV) last issued its quarterly earnings data on Wednesday, July 24th. The network technology company reported $1.98 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.04 by ($0.06). The firm had revenue of $563.39 million for the quarter, compared to analyst estimates of $556.15 million. F5 Networks had a net margin of 21.03% and a return on equity of 36.33%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.44 EPS. As a group, equities analysts anticipate that F5 Networks, Inc. will post 8.22 EPS for the current fiscal year.
F5 Networks 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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