American International Group Inc. Sells 2,973 Shares of F5 Networks, Inc. (FFIV)

American International Group Inc. decreased its holdings in F5 Networks, Inc. (NASDAQ:FFIV) by 13.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,946 shares of the network technology company’s stock after selling 2,973 shares during the period. American International Group Inc.’s holdings in F5 Networks were worth $2,284,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of F5 Networks by 0.3% in the second quarter. Vanguard Group Inc. now owns 6,416,690 shares of the network technology company’s stock worth $815,305,000 after purchasing an additional 16,411 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of F5 Networks by 5.8% in the second quarter. Renaissance Technologies LLC now owns 1,740,209 shares of the network technology company’s stock worth $221,111,000 after purchasing an additional 95,035 shares in the last quarter. Epoch Investment Partners Inc. increased its stake in shares of F5 Networks by 9.3% in the second quarter. Epoch Investment Partners Inc. now owns 1,450,142 shares of the network technology company’s stock worth $184,254,000 after purchasing an additional 123,489 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of F5 Networks by 1.9% in the third quarter. Bank of New York Mellon Corp now owns 1,410,973 shares of the network technology company’s stock worth $170,107,000 after purchasing an additional 26,260 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. increased 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 in the last quarter. Hedge funds and other institutional investors own 94.66% of the company’s stock.

In other news, CMO Benjamin Gibson sold 932 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $119.52, for a total value of $111,392.64. Following the completion of the sale, the chief marketing officer now directly owns 1,651 shares in the company, valued at approximately $197,327.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Edward Julian Eames sold 15,489 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $120.84, for a total transaction of $1,871,690.76. Following the completion of the sale, the chief operating officer now owns 21,587 shares of the company’s stock, valued at $2,608,573.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,712 shares of company stock valued at $4,316,345. Company insiders own 0.26% of the company’s stock.

Shares of F5 Networks, Inc. (NASDAQ:FFIV) traded up $1.36 during trading on Tuesday, reaching $132.58. 400,836 shares of the company’s stock traded hands, compared to its average volume of 365,150. F5 Networks, Inc. has a twelve month low of $114.63 and a twelve month high of $149.50. The company has a market capitalization of $8,213.52, a price-to-earnings ratio of 20.30, a PEG ratio of 2.09 and a beta of 1.06.

F5 Networks (NASDAQ:FFIV) last announced its quarterly earnings data on Wednesday, October 25th. The network technology company reported $2.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.20 by $0.24. The firm had revenue of $538.00 million during the quarter, compared to analyst estimates of $534.71 million. F5 Networks had a net margin of 20.13% and a return on equity of 34.70%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.11 EPS. analysts expect that F5 Networks, Inc. will post 6.7 EPS for the current fiscal year.

F5 Networks announced that its board has approved a share buyback plan 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 plans are often a sign that the company’s leadership believes its stock is undervalued.

Several research firms have recently weighed in on FFIV. Zacks Investment Research upgraded shares of F5 Networks from a “sell” rating to a “hold” rating in a research note on Monday, December 11th. Cowen reaffirmed a “buy” rating and set a $140.00 price objective on shares of F5 Networks in a research note on Friday, October 27th. Nomura reduced their price objective on shares of F5 Networks from $115.00 to $110.00 and set a “neutral” rating for the company in a research note on Thursday, October 26th. Barclays reduced their price objective on shares of F5 Networks from $116.00 to $111.00 and set an “overweight” rating for the company in a research note on Thursday, October 26th. Finally, BMO Capital Markets reduced their price objective on shares of F5 Networks from $124.00 to $122.00 and set a “market perform” rating for the company in a research note on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $125.94.

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F5 Networks Company 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.

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

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