Twin Capital Management Inc. Sells 13,480 Shares of F5 Networks, Inc. (NASDAQ:FFIV)

Twin Capital Management Inc. trimmed its position in F5 Networks, Inc. (NASDAQ:FFIV) by 38.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 21,970 shares of the network technology company’s stock after selling 13,480 shares during the period. Twin Capital Management Inc.’s holdings in F5 Networks were worth $3,199,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in FFIV. Swedbank raised its position in F5 Networks by 11.8% during the 1st quarter. Swedbank now owns 892,194 shares of the network technology company’s stock worth $140,012,000 after purchasing an additional 93,984 shares during the last quarter. Investec Asset Management LTD raised its position in F5 Networks by 1.0% during the 2nd quarter. Investec Asset Management LTD now owns 126,695 shares of the network technology company’s stock worth $18,451,000 after purchasing an additional 1,232 shares during the last quarter. Toronto Dominion Bank raised its position in F5 Networks by 15.8% during the 1st quarter. Toronto Dominion Bank now owns 38,847 shares of the network technology company’s stock worth $6,095,000 after purchasing an additional 5,314 shares during the last quarter. Synovus Financial Corp raised its position in F5 Networks by 12.9% during the 1st quarter. Synovus Financial Corp now owns 2,024 shares of the network technology company’s stock worth $314,000 after purchasing an additional 231 shares during the last quarter. Finally, Zions Bancorporation N.A. bought a new position in F5 Networks during the 1st quarter worth $166,000. Institutional investors own 97.24% of the company’s stock.

F5 Networks stock traded up $2.94 during trading hours on Friday, reaching $129.11. 205,903 shares of the company’s stock were exchanged, compared to its average volume of 793,464. The firm’s 50 day simple moving average is $143.26 and its 200 day simple moving average is $151.62. F5 Networks, Inc. has a twelve month low of $125.21 and a twelve month high of $199.71. The firm has a market capitalization of $7.91 billion, a PE ratio of 16.14, a PEG ratio of 1.90 and a beta of 1.05.

F5 Networks (NASDAQ:FFIV) last issued its quarterly earnings results on Wednesday, July 24th. The network technology company reported $1.98 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.04 by ($0.06). F5 Networks had a return on equity of 36.33% and a net margin of 21.03%. The business had revenue of $563.39 million for the quarter, compared to analyst estimates of $556.15 million. During the same quarter in the previous year, the business posted $2.44 earnings per share. The business’s revenue was up 3.9% on a year-over-year basis. On average, research analysts expect that F5 Networks, Inc. will post 8.22 EPS for the current fiscal year.

Several brokerages recently issued reports on FFIV. Credit Suisse Group raised their target price on F5 Networks from $188.00 to $191.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Barclays began coverage on F5 Networks in a research report on Wednesday, August 7th. They set an “overweight” rating and a $160.00 target price for the company. Goldman Sachs Group lowered F5 Networks from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $165.00 to $120.00 in a research report on Monday, July 8th. Morgan Stanley raised F5 Networks from an “underweight” rating to an “equal weight” rating and set a $130.00 target price for the company in a research report on Thursday, August 8th. Finally, BidaskClub lowered F5 Networks from a “hold” rating to a “sell” rating in a research report on Saturday, August 10th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $164.06.

In other news, EVP Chad Michael Whalen sold 331 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $135.69, for a total value of $44,913.39. Following the completion of the sale, the executive vice president now directly owns 1,628 shares in the company, valued at approximately $220,903.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Thomas Dean Fountain sold 1,393 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $138.94, for a total value of $193,543.42. Following the completion of the sale, the executive vice president now owns 2,899 shares of the company’s stock, valued at $402,787.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,860 shares of company stock valued at $1,547,399. Company insiders own 0.22% of the company’s stock.

F5 Networks Company Profile

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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