F5 Networks (NASDAQ:FFIV) was upgraded by Piper Jaffray Companies from a “neutral” rating to an “overweight” rating in a report issued on Monday, Marketbeat.com reports. The brokerage presently has a $166.00 price target on the network technology company’s stock, up from their prior price target of $161.00. Piper Jaffray Companies’ target price suggests a potential upside of 17.83% from the company’s current price. Piper Jaffray Companies also issued estimates for F5 Networks’ Q4 2019 earnings at $2.01 EPS, FY2019 earnings at $8.25 EPS, Q2 2020 earnings at $1.95 EPS, Q2 2021 earnings at $2.13 EPS, Q3 2021 earnings at $2.22 EPS and FY2021 earnings at $8.86 EPS.
FFIV has been the topic of several other research reports. BidaskClub lowered shares of F5 Networks from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 28th. Zacks Investment Research downgraded F5 Networks from a “hold” rating to a “sell” rating and set a $162.00 price target for the company. in a report on Monday, July 29th. ValuEngine raised F5 Networks from a “sell” rating to a “hold” rating in a research report on Saturday, July 27th. Goldman Sachs Group cut F5 Networks from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $165.00 to $120.00 in a research note on Monday, July 8th. Finally, Credit Suisse Group boosted their price objective on F5 Networks from $188.00 to $191.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $164.28.
NASDAQ FFIV opened at $140.88 on Monday. F5 Networks has a one year low of $121.36 and a one year high of $199.71. The company’s 50 day moving average price is $134.53 and its 200 day moving average price is $147.19. The firm has a market capitalization of $8.47 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 1.92 and a beta of 1.06.
In related news, EVP Thomas Dean Fountain sold 1,393 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $138.94, for a total value of $193,543.42. Following the completion of the transaction, the executive vice president now owns 2,899 shares of the company’s stock, valued at $402,787.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stephen Mcmillan sold 1,972 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $147.16, for a total value of $290,199.52. Following the completion of the transaction, the executive vice president now directly owns 5,455 shares of the company’s stock, valued at approximately $802,757.80. The disclosure for this sale can be found here. Insiders have sold a total of 12,955 shares of company stock worth $1,821,889 in the last ninety days. 0.22% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of FFIV. Guinness Asset Management Ltd grew its position in shares of F5 Networks by 66.7% during the second quarter. Guinness Asset Management Ltd now owns 170 shares of the network technology company’s stock worth $25,000 after buying an additional 68 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in F5 Networks during the 2nd quarter valued at $37,000. CSat Investment Advisory L.P. grew its holdings in F5 Networks by 88.1% during the 2nd quarter. CSat Investment Advisory L.P. now owns 365 shares of the network technology company’s stock worth $53,000 after acquiring an additional 171 shares in the last quarter. JBF Capital Inc. acquired a new position in F5 Networks during the 2nd quarter worth $61,000. Finally, Tortoise Index Solutions LLC acquired a new position in F5 Networks during the 1st quarter worth $66,000. Institutional investors own 94.15% 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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