F5 Networks, Inc. (FFIV) Given Sell Rating at Deutsche Bank AG
Deutsche Bank AG reiterated their sell rating on shares of F5 Networks, Inc. (NASDAQ:FFIV) in a report published on Tuesday morning. Deutsche Bank AG currently has a $90.00 price objective on the network technology company’s stock, down from their prior price objective of $100.00.
Several other brokerages have also recently issued reports on FFIV. Cowen and Company reaffirmed an outperform rating and set a $145.00 price objective on shares of F5 Networks in a report on Monday, June 5th. Jefferies Group LLC reiterated a hold rating and set a $130.00 price objective on shares of F5 Networks in a research report on Friday, June 16th. Piper Jaffray Companies cut shares of F5 Networks from an overweight rating to a neutral rating and dropped their price objective for the stock from $144.00 to $136.00 in a research note on Friday, July 14th. Oppenheimer Holdings, Inc. cut shares of F5 Networks from an outperform rating to a market perform rating and dropped their price objective for the stock from $145.00 to $120.00 in a research note on Thursday, July 27th. Finally, Wells Fargo & Company downgraded shares of F5 Networks from an outperform rating to a market perform rating and reduced their target price for the stock from $145.00 to $120.00 in a report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $131.56.
F5 Networks (FFIV) traded up 1.37% on Tuesday, hitting $119.44. 352,467 shares of the company’s stock traded hands. The stock has a market cap of $7.59 billion, a P/E ratio of 19.84 and a beta of 1.14. The stock has a 50 day moving average price of $117.92 and a 200-day moving average price of $127.20. F5 Networks has a 12 month low of $114.45 and a 12 month high of $149.50.
F5 Networks (NASDAQ:FFIV) last announced its quarterly earnings results on Wednesday, July 26th. The network technology company reported $2.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.03. The company had revenue of $517.80 million for the quarter, compared to the consensus estimate of $525.57 million. F5 Networks had a net margin of 18.96% and a return on equity of 33.85%. F5 Networks’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.81 EPS. Equities analysts predict that F5 Networks will post $8.17 earnings per share for the current fiscal year.
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In other F5 Networks news, CFO Andrew Reinland sold 6,215 shares of F5 Networks stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $120.27, for a total transaction of $747,478.05. Following the completion of the sale, the chief financial officer now owns 20,601 shares of the company’s stock, valued at approximately $2,477,682.27. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Ryan C. Kearny sold 836 shares of F5 Networks stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $120.59, for a total value of $100,813.24. Following the sale, the executive vice president now directly owns 2,148 shares of the company’s stock, valued at approximately $259,027.32. The disclosure for this sale can be found here. Insiders have sold 22,312 shares of company stock worth $2,675,607 over the last three months. Corporate insiders own 0.26% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Investec Asset Management LTD increased its holdings in shares of F5 Networks by 33.5% in the second quarter. Investec Asset Management LTD now owns 53,012 shares of the network technology company’s stock valued at $6,736,000 after purchasing an additional 13,306 shares during the period. State of Tennessee Treasury Department raised its stake in shares of F5 Networks by 6.5% in the second quarter. State of Tennessee Treasury Department now owns 144,733 shares of the network technology company’s stock worth $18,390,000 after purchasing an additional 8,875 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of F5 Networks by 2.6% during the second quarter. Sei Investments Co. now owns 9,085 shares of the network technology company’s stock worth $1,154,000 after purchasing an additional 230 shares during the period. OppenheimerFunds Inc. lifted its holdings in shares of F5 Networks by 6.1% during the first quarter. OppenheimerFunds Inc. now owns 1,705 shares of the network technology company’s stock worth $243,000 after purchasing an additional 98 shares during the period. Finally, Soros Fund Management LLC acquired a new stake in shares of F5 Networks during the first quarter worth about $385,000. Institutional investors and hedge funds own 96.50% 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.
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