Financial Advisors Network Inc. Purchases 829 Shares of F5 Networks, Inc. (FFIV)
Financial Advisors Network Inc. increased its position in shares of F5 Networks, Inc. (NASDAQ:FFIV) by 32.2% during the 4th quarter, Holdings Channel reports. The fund owned 3,407 shares of the network technology company’s stock after acquiring an additional 829 shares during the quarter. Financial Advisors Network Inc.’s holdings in F5 Networks were worth $447,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Zions Bancorporation boosted its position in shares of 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. lifted its position in F5 Networks by 58.1% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,360 shares of the network technology company’s stock valued at $164,000 after buying an additional 500 shares during the last quarter. Wealthstreet Investment Advisors LLC acquired a new position in F5 Networks in the fourth quarter valued at about $236,000. Cadence Capital Management LLC acquired a new position in F5 Networks in the third quarter valued at about $241,000. Finally, Moloney Securities Asset Management LLC acquired a new position in F5 Networks in the third quarter valued at about $249,000. 95.05% of the stock is currently owned by hedge funds and other institutional investors.
Shares of F5 Networks, Inc. (NASDAQ FFIV) opened at $138.64 on Monday. The stock has a market cap of $8,574.11, a PE ratio of 21.33, a PEG ratio of 2.11 and a beta of 1.08. F5 Networks, Inc. has a 1 year low of $114.63 and a 1 year high of $149.50.
F5 Networks announced that its board has authorized a share buyback program on Wednesday, October 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the network technology company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
In other news, CFO Andrew Reinland sold 1,995 shares of the 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 sale, the chief financial officer now owns 18,930 shares of the company’s stock, valued at $2,741,631.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Francois Locoh-Donou sold 1,675 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $142.85, for a total transaction of $239,273.75. Following the sale, the chief executive officer now owns 3,984 shares in the company, valued at $569,114.40. The disclosure for this sale can be found here. Insiders have sold 10,209 shares of company stock worth $1,467,119 in the last three months. Corporate insiders own 0.30% of the company’s stock.
A number of research firms have commented on FFIV. Zacks Investment Research raised shares of F5 Networks from a “hold” rating to a “buy” rating and set a $154.00 target price on the stock in a research report on Wednesday, January 10th. Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $146.00 target price on shares of F5 Networks in a research report on Wednesday, January 10th. DA Davidson set a $155.00 target price on shares of F5 Networks and gave the company a “buy” rating in a research report on Wednesday, January 17th. Deutsche Bank reaffirmed a “sell” rating on shares of F5 Networks in a research report on Friday, January 5th. Finally, Cowen reaffirmed a “buy” rating and issued a $162.00 target price on shares of F5 Networks in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company. F5 Networks presently has an average rating of “Hold” and an average price target of $140.30.
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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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