Teacher Retirement System of Texas lessened its stake in shares of F5 Networks, Inc. (NASDAQ:FFIV) by 87.2% in the first quarter, HoldingsChannel.com reports. The firm owned 7,643 shares of the network technology company’s stock after selling 51,957 shares during the quarter. Teacher Retirement System of Texas’ holdings in F5 Networks were worth $1,594,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Mariner LLC purchased a new stake in F5 Networks in the fourth quarter worth $66,257,000. Vontobel Holding Ltd. lifted its stake in F5 Networks by 4.2% in the first quarter. Vontobel Holding Ltd. now owns 48,405 shares of the network technology company’s stock worth $10,098,000 after acquiring an additional 1,941 shares during the period. Oregon Public Employees Retirement Fund lifted its position in F5 Networks by 18.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 27,124 shares of the network technology company’s stock valued at $4,772,000 after buying an additional 4,296 shares during the period. CWM Advisors LLC lifted its position in F5 Networks by 141.5% during the first quarter. CWM Advisors LLC now owns 4,608 shares of the network technology company’s stock valued at $961,000 after buying an additional 2,700 shares during the period. Finally, State of Tennessee Treasury Department lifted its position in F5 Networks by 87.0% during the first quarter. State of Tennessee Treasury Department now owns 20,671 shares of the network technology company’s stock valued at $4,312,000 after buying an additional 9,615 shares during the period. 96.10% of the stock is owned by institutional investors.
FFIV stock opened at $189.39 on Wednesday. F5 Networks, Inc. has a twelve month low of $116.79 and a twelve month high of $216.15. The company has a current ratio of 1.01, a quick ratio of 0.99 and a debt-to-equity ratio of 0.18. The stock has a market cap of $11.29 billion, a PE ratio of 41.99, a P/E/G ratio of 1.98 and a beta of 1.05. The company’s 50-day moving average is $192.16.
F5 Networks (NASDAQ:FFIV) last posted its quarterly earnings data on Tuesday, April 27th. The network technology company reported $2.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.90. F5 Networks had a return on equity of 18.60% and a net margin of 11.28%. The firm had revenue of $645.29 million for the quarter, compared to analysts’ expectations of $635.98 million. During the same period in the previous year, the firm earned $2.23 EPS. The business’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, equities analysts forecast that F5 Networks, Inc. will post 7.02 earnings per share for the current year.
In related news, CFO Francis J. Pelzer sold 600 shares of the business’s stock in a transaction that occurred on Thursday, April 15th. The stock was sold at an average price of $211.28, for a total value of $126,768.00. Following the transaction, the chief financial officer now directly owns 11,489 shares of the company’s stock, valued at approximately $2,427,395.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Mika Yamamoto sold 1,797 shares of the business’s stock in a transaction that occurred on Friday, June 11th. The stock was sold at an average price of $193.93, for a total value of $348,492.21. Following the completion of the transaction, the chief marketing officer now directly owns 5,164 shares in the company, valued at $1,001,454.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,770 shares of company stock worth $2,967,194. 0.46% of the stock is owned by insiders.
Several brokerages have commented on FFIV. TheStreet lowered F5 Networks from a “b” rating to a “c+” rating in a research report on Tuesday, April 27th. The Goldman Sachs Group lowered F5 Networks from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $191.00 to $165.00 in a research report on Tuesday, June 1st. Piper Sandler raised their price objective on F5 Networks from $216.00 to $223.00 in a research report on Tuesday, March 2nd. Credit Suisse Group raised F5 Networks from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $203.00 to $235.00 in a research report on Thursday, June 10th. Finally, Needham & Company LLC raised their price target on F5 Networks from $245.00 to $255.00 and gave the company a “buy” rating in a report on Wednesday, April 28th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. F5 Networks currently has an average rating of “Buy” and a consensus target price of $207.07.
F5 Networks Profile
F5 Networks, Inc provides multi-cloud application services for the security, performance, and availability of network applications, servers, and storage systems. The company's multi-cloud application services enable its customers to develop, deploy, operate, secure, and govern applications in any architecture, from on-premises to the public cloud.
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