F5 Networks, Inc. (FFIV) Stake Lowered by Sawgrass Asset Management LLC

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Sawgrass Asset Management LLC decreased its holdings in shares of F5 Networks, Inc. (NASDAQ:FFIV) by 36.3% in the 1st quarter, HoldingsChannel reports. The firm owned 162,542 shares of the network technology company’s stock after selling 92,506 shares during the period. Sawgrass Asset Management LLC’s holdings in F5 Networks were worth $25,508,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of FFIV. TIAA CREF Investment Management LLC grew its position in F5 Networks by 6.8% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 528,049 shares of the network technology company’s stock worth $105,304,000 after purchasing an additional 33,538 shares during the last quarter. Legal & General Group Plc grew its position in F5 Networks by 3.5% in the 3rd quarter. Legal & General Group Plc now owns 414,456 shares of the network technology company’s stock worth $82,634,000 after purchasing an additional 14,164 shares during the last quarter. Vanguard Group Inc grew its position in F5 Networks by 2.5% in the 3rd quarter. Vanguard Group Inc now owns 6,537,476 shares of the network technology company’s stock worth $1,303,703,000 after purchasing an additional 158,995 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in F5 Networks in the 4th quarter worth $384,000. Finally, BTIM Corp. grew its position in F5 Networks by 10.5% in the 4th quarter. BTIM Corp. now owns 122,125 shares of the network technology company’s stock worth $19,788,000 after purchasing an additional 11,602 shares during the last quarter. 97.15% of the stock is owned by institutional investors.

Shares of F5 Networks stock traded down $0.99 during trading on Friday, hitting $141.62. 4,594 shares of the company’s stock traded hands, compared to its average volume of 585,451. F5 Networks, Inc. has a twelve month low of $140.63 and a twelve month high of $199.71. The firm has a market cap of $8.54 billion, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 1.85 and a beta of 0.91.

F5 Networks (NASDAQ:FFIV) last issued its earnings results on Wednesday, April 24th. The network technology company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.01. F5 Networks had a net margin of 22.91% and a return on equity of 39.13%. The business had revenue of $544.90 million for the quarter, compared to analyst estimates of $547.03 million. During the same period in the previous year, the business earned $2.31 EPS. The firm’s revenue was up 2.2% on a year-over-year basis. Sell-side analysts predict that F5 Networks, Inc. will post 8.59 earnings per share for the current year.

In other news, CFO Francis J. Pelzer sold 231 shares of F5 Networks stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $151.58, for a total transaction of $35,014.98. Following the sale, the chief financial officer now directly owns 902 shares in the company, valued at approximately $136,725.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thomas Dean Fountain sold 545 shares of F5 Networks stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $170.68, for a total transaction of $93,020.60. Following the sale, the executive vice president now owns 1,308 shares in the company, valued at $223,249.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,154 shares of company stock worth $1,721,833. 0.22% of the stock is owned by company insiders.

Several analysts have issued reports on FFIV shares. William Blair lowered shares of F5 Networks from an “outperform” rating to a “market perform” rating and set a $161.86 price target on the stock. in a research report on Thursday, January 17th. ValuEngine lowered shares of F5 Networks from a “buy” rating to a “hold” rating in a research report on Thursday, January 17th. Piper Jaffray Companies restated an “underweight” rating and issued a $157.00 price target on shares of F5 Networks in a research report on Thursday, January 24th. Nomura decreased their price target on shares of F5 Networks to $155.00 and set a “neutral” rating on the stock in a research report on Thursday, January 24th. Finally, MKM Partners decreased their price target on shares of F5 Networks to $175.00 and set a “neutral” rating on the stock in a research report on Thursday, January 24th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $173.99.

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About F5 Networks

F5 Networks, Inc develops, markets, and sells application delivery networking products that optimize the security, performance, and availability of network applications, servers, and storage systems. The company's primary application delivery technology is Traffic Management Operating System (TMOS) that enable company's products to intercept, inspect, and act on the contents of traffic from virtually each type of Internet Protocol-enabled application.

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

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