FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person *   Rodriguez John Edward 2. Date of Event Requiring Statement (Month/Day/Year) 10/25/2005 3. Issuer Name and Ticker or Trading Symbol F5 NETWORKS INC [FFIV] (Last) (First) (Middle) C/O F5 NETWORKS, INC., 401 ELLIOTT AVE. WEST 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Sr.VP,Chief Accounting Officer 5. If Amendment, Date Original Filed(Month/Day/Year) (Street) SEATTLE, WA 98119 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units (1)	01/01/2006(2)	07/01/2015	Common Stock	13,125 (3)	$ 0	D	Â
Restricted Stock Units (1)	10/01/2006(4)	09/30/2015	Common Stock	5,000 (3)	$ 0	D	Â
Non-Qualified Stock Options (right to buy)	09/17/2002(5)	09/17/2011	Common Stock	2,917 (6)	$ 13.5	D	Â
Non-Qualified Stock Options (right to buy)	08/18/2003(7)	07/18/2013	Common Stock	834 (6)	$ 17.16	D	Â

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Rodriguez John Edward C/O F5 NETWORKS, INC. 401 ELLIOTT AVE. WEST SEATTLE, WA 98119	Â	Â	  Sr.VP,Chief Accounting Officer	Â

Signatures

/s/ John Edward Rodriguez		10/27/2005
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Right to receive shares of F5 Networks, Inc. common stock on the vest date.
(2)	RSUs vest quarterly over a 2 year period from the date of grant.
(3)	Indicates the number of RSUs outstanding as of October 25, 2005.
(4)	1/8 of these RSUs will vest on October 1, 2006, with the remainder vesting 1/8 on the first day of the subsequent seven quarters.
(5)	Options vest 25% one year following the date of grant and the remaining 75% vest monthly over the following three year period.
(6)	Indicates the number of options outstanding as of October 25, 2005.
(7)	Options vested in equal monthly increments over the two year period following the date of grant.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

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