Washington Capital Management Inc. Sells 850 Shares of F5 Networks, Inc. (NASDAQ:FFIV)

Washington Capital Management Inc. lowered its holdings in F5 Networks, Inc. (NASDAQ:FFIV) by 21.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,150 shares of the network technology company’s stock after selling 850 shares during the period. Washington Capital Management Inc.’s holdings in F5 Networks were worth $588,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of FFIV. BlackRock Inc. increased its position in F5 Networks by 7.6% during the 1st quarter. BlackRock Inc. now owns 5,091,036 shares of the network technology company’s stock worth $1,062,091,000 after purchasing an additional 357,791 shares in the last quarter. American Century Companies Inc. increased its position in F5 Networks by 15.6% in the 2nd quarter. American Century Companies Inc. now owns 1,830,993 shares of the network technology company’s stock valued at $341,773,000 after acquiring an additional 247,662 shares during the period. UBS Asset Management Americas Inc. increased its position in shares of F5 Networks by 36.4% during the first quarter. UBS Asset Management Americas Inc. now owns 696,259 shares of the network technology company’s stock worth $145,254,000 after buying an additional 185,964 shares during the period. Allianz Asset Management GmbH increased its position in shares of F5 Networks by 35.1% during the first quarter. Allianz Asset Management GmbH now owns 678,744 shares of the network technology company’s stock worth $141,599,000 after buying an additional 176,271 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of F5 Networks by 28.2% during the first quarter. Bank of New York Mellon Corp now owns 688,891 shares of the network technology company’s stock worth $143,717,000 after buying an additional 151,537 shares during the period. 93.09% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have weighed in on FFIV. Bank of America raised shares of F5 Networks from a “neutral” rating to a “buy” rating and raised their price objective for the company from $210.00 to $285.00 in a research note on Tuesday, July 27th. Zacks Investment Research upgraded shares of F5 Networks from a “hold” rating to a “buy” rating and set a $215.00 price objective for the company in a report on Wednesday, July 28th. Credit Suisse Group reiterated an “outperform” rating and issued a $206.39 target price (down previously from $235.00) on shares of F5 Networks in a research note on Tuesday, July 27th. Royal Bank of Canada raised their price objective on shares of F5 Networks from $200.00 to $215.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 27th. Finally, Needham & Company LLC assumed coverage on shares of F5 Networks in a research report on Friday, July 16th. They set a “buy” rating and a $255.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $216.11.

In other F5 Networks news, CFO Francis J. Pelzer sold 1,200 shares of the firm’s stock in a transaction on Wednesday, September 15th. The stock was sold at an average price of $201.69, for a total transaction of $242,028.00. Following the completion of the transaction, the chief financial officer now owns 13,455 shares of the company’s stock, valued at $2,713,738.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Francois Locoh-Donou sold 1,300 shares of F5 Networks stock in a transaction on Wednesday, September 15th. The shares were sold at an average price of $201.69, for a total value of $262,197.00. Following the completion of the sale, the chief executive officer now directly owns 76,353 shares of the company’s stock, valued at approximately $15,399,636.57. The disclosure for this sale can be found here. Insiders have sold a total of 11,359 shares of company stock worth $2,290,432 in the last 90 days. 0.46% of the stock is currently owned by company insiders.

Shares of NASDAQ:FFIV opened at $201.78 on Tuesday. The company has a market capitalization of $12.17 billion, a PE ratio of 41.78, a PEG ratio of 1.90 and a beta of 1.05. F5 Networks, Inc. has a 12-month low of $116.79 and a 12-month high of $216.15. The business has a 50 day moving average of $201.48 and a two-hundred day moving average of $196.43. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 0.16.

F5 Networks (NASDAQ:FFIV) last announced its quarterly earnings results on Sunday, July 25th. The network technology company reported $2.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.46 by $0.30. F5 Networks had a return on equity of 19.79% and a net margin of 11.76%. The business had revenue of $651.52 million for the quarter, compared to analyst estimates of $636.94 million. During the same quarter in the prior year, the company posted $2.18 EPS. Equities research analysts predict that F5 Networks, Inc. will post 7.41 earnings per share for the current fiscal year.

F5 Networks Company Profile

F5 Networks, Inc engages development and provision of software defined application services. It offers the development, marketing and sale of application delivery networking products that optimize the security, performance, and availability of network applications, servers, and storage systems. The company was founded on February 26, 1996 and is headquartered in Seattle, WA.

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

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