F5 Networks, Inc. (NASDAQ:FFIV) investors: listen up.
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Now that that’s out of the way, let’s analyze the newest info surrounding F5 Networks, Inc. (NASDAQ:FFIV).
What have hedge funds been doing with F5 Networks, Inc. (NASDAQ:FFIV)?
In preparation for the third quarter, a total of 28 of the hedge funds we track were long in this stock, a change of -7% from the previous quarter. With hedge funds’ sentiment swirling, there exists an “upper tier” of key hedge fund managers who were boosting their holdings significantly.
Out of the hedge funds we follow, Lee Ainslie’s Maverick Capital had the most valuable position in F5 Networks, Inc. (NASDAQ:FFIV), worth close to $207.1 million, accounting for 2.8% of its total 13F portfolio. Coming in second is Bill Miller of Legg Mason Capital Management, with a $74.5 million position; the fund has 1.3% of its 13F portfolio invested in the stock. Other peers that hold long positions include D. E. Shaw’s D E Shaw, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital and Eric Bannasch’s Cadian Capital.
Judging by the fact that F5 Networks, Inc. (NASDAQ:FFIV) has faced dropping sentiment from the entirety of the hedge funds we track, logic holds that there was a specific group of fund managers that slashed their full holdings in Q1. At the top of the heap, Brian Ashford-Russell and Tim Woolley’s Polar Capital dumped the biggest investment of the “upper crust” of funds we key on, totaling close to $6.6 million in stock. Donald Chiboucis’s fund, Columbus Circle Investors, also dropped its stock, about $6.5 million worth. These transactions are interesting, as aggregate hedge fund interest fell by 2 funds in Q1.
How are insiders trading F5 Networks, Inc. (NASDAQ:FFIV)?
Insider buying made by high-level executives is best served when the company in question has experienced transactions within the past half-year. Over the latest half-year time frame, F5 Networks, Inc. (NASDAQ:FFIV) has experienced zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We’ll check out the relationship between both of these indicators in other stocks similar to F5 Networks, Inc. (NASDAQ:FFIV). These stocks are Catamaran Corp (USA) (NASDAQ:CTRX), Workday Inc (NYSE:WDAY), Red Hat, Inc. (NYSE:RHT), Nuance Communications Inc. (NASDAQ:NUAN), and BMC Software, Inc. (NASDAQ:BMC). This group of stocks belong to the application software industry and their market caps match FFIV’s market cap.