State Treasurer State of Michigan Has $2.70 Million Stake in F5 Networks, Inc. (FFIV)

State Treasurer State of Michigan lessened its stake in shares of F5 Networks, Inc. (NASDAQ:FFIV) by 1.2% in the first quarter, HoldingsChannel.com reports. The firm owned 17,172 shares of the network technology company’s stock after selling 200 shares during the quarter. State Treasurer State of Michigan’s holdings in F5 Networks were worth $2,695,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Intercontinental Wealth Advisors LLC bought a new position in shares of F5 Networks during the fourth quarter valued at approximately $25,000. Lindbrook Capital LLC bought a new position in F5 Networks in the fourth quarter worth $26,000. Atlas Capital Advisors LLC raised its holdings in F5 Networks by 306.5% in the first quarter. Atlas Capital Advisors LLC now owns 187 shares of the network technology company’s stock worth $29,000 after purchasing an additional 141 shares in the last quarter. Rational Advisors LLC raised its holdings in F5 Networks by 2,009.1% in the fourth quarter. Rational Advisors LLC now owns 232 shares of the network technology company’s stock worth $38,000 after purchasing an additional 221 shares in the last quarter. Finally, Global Trust Asset Management LLC bought a new position in F5 Networks in the first quarter worth $41,000. 97.15% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:FFIV traded down $1.85 on Monday, hitting $138.37. 3,238 shares of the company traded hands, compared to its average volume of 581,542. F5 Networks, Inc. has a 52 week low of $139.85 and a 52 week high of $199.71. The company has a market capitalization of $8.37 billion, a PE ratio of 17.32, a PEG ratio of 1.81 and a beta of 0.91.

F5 Networks (NASDAQ:FFIV) last issued its quarterly 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 return on equity of 39.13% and a net margin of 22.91%. The firm had revenue of $544.90 million during the quarter, compared to the consensus estimate of $547.03 million. During the same period last year, the company earned $2.31 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. On average, analysts expect that F5 Networks, Inc. will post 8.59 EPS for the current year.

In related news, EVP Thomas Dean Fountain sold 545 shares of the stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $170.68, for a total transaction of $93,020.60. Following the sale, the executive vice president now directly owns 1,308 shares of the company’s stock, valued at $223,249.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Francis J. Pelzer sold 231 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $151.58, for a total value of $35,014.98. Following the sale, the chief financial officer now directly owns 902 shares in the company, valued at $136,725.16. The disclosure for this sale can be found here. Insiders have sold 11,154 shares of company stock valued at $1,721,833 over the last 90 days. Corporate insiders own 0.22% of the company’s stock.

A number of equities analysts have issued reports on FFIV shares. Piper Jaffray Companies reiterated an “underweight” rating and issued a $157.00 price objective on shares of F5 Networks in a report on Thursday, January 24th. William Blair reiterated a “market perform” rating on shares of F5 Networks in a report on Tuesday, March 12th. Deutsche Bank decreased their price objective on F5 Networks from $115.00 to $110.00 and set a “sell” rating for the company in a report on Tuesday, March 12th. BidaskClub downgraded F5 Networks from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 1st. Finally, Nomura decreased their price objective on F5 Networks to $155.00 and set a “neutral” rating for the company in a report on Thursday, January 24th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The stock has an average 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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