F5 Networks, Inc. (NASDAQ:FFIV) was downgraded by equities researchers at Deutsche Bank AG from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, The Fly reports.
Other equities research analysts also recently issued reports about the company. Zacks Investment Research raised F5 Networks from a “hold” rating to a “buy” rating and set a $163.00 price objective for the company in a report on Tuesday, December 27th. Citigroup Inc raised F5 Networks from a “neutral” rating to a “buy” rating in a report on Wednesday, December 14th. Drexel Hamilton reissued a “buy” rating and issued a $160.00 price objective on shares of F5 Networks in a report on Monday, January 23rd. Jefferies Group LLC reissued a “hold” rating and issued a $130.00 price objective (up from $120.00) on shares of F5 Networks in a report on Tuesday, January 24th. Finally, Wunderlich reissued a “hold” rating and issued a $130.00 price objective on shares of F5 Networks in a report on Tuesday, January 24th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the stock. F5 Networks currently has an average rating of “Hold” and a consensus target price of $130.37.
Shares of F5 Networks (NASDAQ:FFIV) opened at 147.13 on Wednesday. The firm has a market cap of $9.53 billion, a PE ratio of 26.55 and a beta of 1.33. F5 Networks has a 1-year low of $93.64 and a 1-year high of $149.50. The company has a 50-day moving average of $144.07 and a 200-day moving average of $136.91.
F5 Networks (NASDAQ:FFIV) last posted its quarterly earnings data on Wednesday, January 25th. The network technology company reported $1.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.94 by $0.04. The business earned $516 million during the quarter, compared to the consensus estimate of $517.97 million. F5 Networks had a return on equity of 32.62% and a net margin of 18.32%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.73 earnings per share. Analysts predict that F5 Networks will post $8.33 earnings per share for the current fiscal year.
In other news, insider John Mcadam sold 21,862 shares of the firm’s stock in a transaction on Friday, February 10th. The stock was sold at an average price of $139.73, for a total value of $3,054,777.26. Following the completion of the transaction, the insider now owns 94,551 shares in the company, valued at $13,211,611.23. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Scot Frazier Rogers sold 2,406 shares of the firm’s stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $132.36, for a total value of $318,458.16. Following the completion of the transaction, the executive vice president now owns 10,354 shares of the company’s stock, valued at approximately $1,370,455.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,037 shares of company stock valued at $5,351,302. Company insiders own 0.26% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. River & Mercantile Asset Management LLP purchased a new position in shares of F5 Networks during the fourth quarter worth $5,236,000. Origin Asset Management LLP purchased a new position in shares of F5 Networks during the fourth quarter worth $11,433,000. Norges Bank purchased a new position in shares of F5 Networks during the fourth quarter worth $131,723,000. Sowell Financial Services LLC purchased a new position in shares of F5 Networks during the fourth quarter worth $154,000. Finally, Assenagon Asset Management S.A. purchased a new position in shares of F5 Networks during the fourth quarter worth $1,164,000. Institutional investors and hedge funds own 94.20% of the company’s stock.
F5 Networks Company Profile
F5 Networks, Inc is a developer and provider of software defined application services. The Company is engaged in the development, marketing and sale of application delivery networking products that optimize the security, performance and availability of network applications, servers and storage systems.