F5 Networks, Inc. (NASDAQ:FFIV)’s share price was up 6.2% on Friday after Smith Barney Citigroup raised their price target on the stock from $165.00 to $190.00. The stock traded as high as $200.57 and last traded at $191.24. Approximately 1,806,438 shares changed hands during mid-day trading, an increase of 100% from the average daily volume of 903,948 shares. The stock had previously closed at $180.10.
FFIV has been the subject of a number of other reports. TheStreet raised F5 Networks from a “c+” rating to a “b-” rating in a report on Wednesday, November 11th. Colliers Securities raised their price target on F5 Networks from $175.00 to $190.00 and gave the company a “buy” rating in a report on Monday, November 23rd. BidaskClub raised F5 Networks from a “hold” rating to a “buy” rating in a report on Thursday, December 10th. Needham & Company LLC raised their price target on F5 Networks from $210.00 to $235.00 and gave the company a “buy” rating in a report on Friday. Finally, Cowen raised their price target on F5 Networks from $199.00 to $233.00 and gave the company an “outperform” rating in a report on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. F5 Networks has an average rating of “Buy” and an average target price of $182.79.
In other F5 Networks news, EVP Ana Maria White sold 257 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $132.39, for a total value of $34,024.23. Following the transaction, the executive vice president now directly owns 16,601 shares of the company’s stock, valued at approximately $2,197,806.39. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Francis J. Pelzer sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, December 15th. The shares were sold at an average price of $172.81, for a total value of $86,405.00. Following the completion of the transaction, the chief financial officer now directly owns 12,831 shares in the company, valued at $2,217,325.11. The disclosure for this sale can be found here. Insiders have sold a total of 21,121 shares of company stock worth $3,375,639 over the last three months. 0.34% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Chiron Capital Management LLC acquired a new stake in F5 Networks during the 3rd quarter valued at $37,000. NuWave Investment Management LLC raised its holdings in F5 Networks by 381.9% during the third quarter. NuWave Investment Management LLC now owns 453 shares of the network technology company’s stock worth $55,000 after purchasing an additional 359 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in F5 Networks by 144.9% during the third quarter. Steward Partners Investment Advisory LLC now owns 507 shares of the network technology company’s stock worth $62,000 after purchasing an additional 300 shares in the last quarter. NEXT Financial Group Inc acquired a new stake in F5 Networks during the third quarter worth approximately $63,000. Finally, Cerebellum GP LLC acquired a new stake in F5 Networks during the third quarter worth approximately $64,000. 85.01% of the stock is currently owned by institutional investors.
The company has a quick ratio of 1.37, a current ratio of 1.39 and a debt-to-equity ratio of 0.17. The business’s fifty day simple moving average is $170.29 and its two-hundred day simple moving average is $143.90. The company has a market cap of $11.78 billion, a price-to-earnings ratio of 38.10, a PEG ratio of 2.26 and a beta of 1.13.
F5 Networks (NASDAQ:FFIV) last released its quarterly earnings data on Saturday, October 31st. The network technology company reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.06. F5 Networks had a net margin of 13.08% and a return on equity of 19.72%. The company had revenue of $614.82 million for the quarter, compared to analysts’ expectations of $607.12 million. During the same quarter last year, the company earned $2.59 earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. Sell-side analysts predict that F5 Networks, Inc. will post 7.03 EPS for the current fiscal year.
F5 Networks Company Profile (NASDAQ:FFIV)
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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