M&T Bank Corp boosted its position in shares of F5 Networks, Inc. (NASDAQ:FFIV) by 364.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,869 shares of the network technology company’s stock after purchasing an additional 22,653 shares during the period. M&T Bank Corp’s holdings in F5 Networks were worth $3,788,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FFIV. Zions Bancorporation boosted its stake in F5 Networks by 16,733.3% during the 3rd quarter. Zions Bancorporation now owns 1,010 shares of the network technology company’s stock valued at $122,000 after acquiring an additional 1,004 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its stake in F5 Networks by 58.1% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,360 shares of the network technology company’s stock valued at $164,000 after acquiring an additional 500 shares during the last quarter. Cadence Capital Management LLC bought a new position in F5 Networks during the 3rd quarter valued at $241,000. Moloney Securities Asset Management LLC bought a new position in F5 Networks during the 3rd quarter valued at $249,000. Finally, Sowell Financial Services LLC bought a new position in F5 Networks during the 4th quarter valued at $276,000. 95.05% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have commented on the stock. Piper Jaffray Companies reiterated a “neutral” rating and set a $146.00 price objective on shares of F5 Networks in a research note on Wednesday, January 10th. Goldman Sachs Group began coverage on shares of F5 Networks in a research note on Wednesday, February 7th. They set a “neutral” rating and a $145.00 price objective on the stock. BidaskClub upgraded shares of F5 Networks from a “hold” rating to a “buy” rating in a research report on Saturday, February 3rd. Bank of America raised their price target on shares of F5 Networks from $157.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Finally, BMO Capital Markets raised their price target on shares of F5 Networks from $156.00 to $166.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $140.30.
F5 Networks (NASDAQ:FFIV) last issued its quarterly earnings data on Wednesday, January 24th. The network technology company reported $2.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.05 by $0.21. The firm had revenue of $523.20 million for the quarter, compared to the consensus estimate of $521.07 million. F5 Networks had a net margin of 19.79% and a return on equity of 35.98%. F5 Networks’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the firm posted $1.98 EPS. sell-side analysts expect that F5 Networks, Inc. will post 7.23 EPS for the current year.
F5 Networks declared that its board has approved a stock buyback plan on Wednesday, October 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the network technology company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
In other F5 Networks news, CEO Francois Locoh-Donou sold 1,675 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $142.85, for a total transaction of $239,273.75. Following the transaction, the chief executive officer now owns 3,984 shares of the company’s stock, valued at approximately $569,114.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Andrew Reinland sold 1,995 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $144.83, for a total transaction of $288,935.85. Following the transaction, the chief financial officer now directly owns 18,930 shares in the company, valued at approximately $2,741,631.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,209 shares of company stock worth $1,467,119. 0.26% of the stock is currently owned by insiders.
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F5 Networks 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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