Washington Trust Bank buys $1,782,853 stake in F5 Networks (FFIV)

F5 Networks (FFIV) : Washington Trust Bank scooped up 6 additional shares in F5 Networks during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 4, 2016. The investment management firm now holds a total of 14,206 shares of F5 Networks which is valued at $1,782,853.F5 Networks makes up approximately 0.43% of Washington Trust Bank’s portfolio.

Other Hedge Funds, Including ,

F5 Networks opened for trading at $124 and hit $125.47 on the upside on Tuesday, eventually ending the session at $124.74, with a gain of 0.29% or 0.36 points. The heightened volatility saw the trading volume jump to 5,59,615 shares. Company has a market cap of $8,258 M.

On the company’s financial health, F5 Networks reported $1.81 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $1.79. The company had revenue of $496.52 million for the quarter, compared to analysts expectations of $495.70 million. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.67 EPS.

Many Wall Street Analysts have commented on F5 Networks. Company shares were Initiated by Wunderlich on Jul 21, 2016 to “Buy”, Firm has raised the Price Target to $ 110 from a previous price target of $100 .F5 Networks was Downgraded by Credit Suisse to ” Neutral” on Jul 21, 2016. Company shares were Reiterated by RBC Capital Mkts on Jul 21, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 120 from a previous price target of $115 .

F5 Networks Inc. is the developer and provider of application delivery services. The Company’s core technology is a full-proxy programmable software platform called TMOS (Traffic Management Operating System). It helps organizations seamlessly scale cloud data center and software-defined networking deployments to successfully deliver applications to anyone anywhere at any time. It works with many technology companies to improve manageability strengthen security and ensure faster and more successful deployments. Its applications include availability and delivery. It can remove the roadblocks in one’s network to efficiently and securely deliver applications that are available to users when and where they need them. It can also accelerate one’s application response time minimize latency and delays and reduce the number of data round trips necessary to complete a web request.

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