Nicollet Investment Management Inc. acquired a new stake in shares of F5 Networks, Inc. (NASDAQ:FFIV) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,358 shares of the network technology company’s stock, valued at approximately $572,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Koch Industries Inc. bought a new stake in shares of F5 Networks during the second quarter valued at approximately $832,000. Janus Henderson Group PLC boosted its holdings in F5 Networks by 424.5% in the second quarter. Janus Henderson Group PLC now owns 748,290 shares of the network technology company’s stock worth $95,081,000 after acquiring an additional 605,629 shares in the last quarter. LSV Asset Management boosted its holdings in F5 Networks by 150.0% in the fourth quarter. LSV Asset Management now owns 743,626 shares of the network technology company’s stock worth $97,578,000 after acquiring an additional 446,142 shares in the last quarter. APG Asset Management N.V. raised its stake in shares of F5 Networks by 65.7% in the third quarter. APG Asset Management N.V. now owns 1,116,349 shares of the network technology company’s stock worth $134,587,000 after purchasing an additional 442,600 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. raised its stake in shares of F5 Networks by 24.4% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 1,401,720 shares of the network technology company’s stock worth $168,991,000 after purchasing an additional 274,997 shares during the last quarter. 95.05% of the stock is currently owned by institutional investors.
In other F5 Networks news, CFO Andrew Reinland sold 1,995 shares of F5 Networks stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $144.83, for a total transaction of $288,935.85. Following the completion of the transaction, the chief financial officer now owns 18,930 shares in the company, valued at approximately $2,741,631.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scot Frazier Rogers sold 2,738 shares of F5 Networks stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $144.83, for a total value of $396,544.54. Following the transaction, the executive vice president now owns 9,072 shares of the company’s stock, valued at approximately $1,313,897.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,209 shares of company stock valued at $1,467,119. 0.26% of the stock is currently owned by insiders.
F5 Networks (NASDAQ:FFIV) last posted its quarterly earnings data on Wednesday, January 24th. The network technology company reported $2.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.05 by $0.21. F5 Networks had a return on equity of 35.98% and a net margin of 19.79%. The firm had revenue of $523.20 million during the quarter, compared to analysts’ expectations of $521.07 million. During the same quarter last year, the firm earned $1.98 EPS. The business’s quarterly revenue was up 1.4% on a year-over-year basis. research analysts predict that F5 Networks, Inc. will post 7.23 earnings per share for the current fiscal year.
F5 Networks announced that its board has approved a stock buyback program on Wednesday, October 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the network technology company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
Several research analysts have recently weighed in on FFIV shares. Drexel Hamilton restated a “buy” rating and issued a $160.00 price target on shares of F5 Networks in a research note on Monday, October 23rd. Zacks Investment Research cut F5 Networks from a “buy” rating to a “hold” rating in a research report on Monday, January 15th. BMO Capital Markets upgraded F5 Networks from a “market perform” rating to an “outperform” rating and set a $122.00 price target for the company in a research report on Thursday, January 4th. Deutsche Bank restated a “sell” rating on shares of F5 Networks in a research report on Friday, January 5th. Finally, Bank of America raised F5 Networks from a “neutral” rating to a “buy” rating and set a $157.00 price objective for the company in a research note on Friday, January 5th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $140.30.
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About F5 Networks
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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