Infoblox Inc. (BLOX) Downgraded by Guggenheim
A number of other research analysts also recently issued reports on BLOX. Cowen and Company restated an outperform rating and set a $28.00 price target (down previously from $32.00) on shares of Infoblox in a research note on Thursday, May 26th. Needham & Company LLC restated a hold rating on shares of Infoblox in a research note on Saturday, September 3rd. Zacks Investment Research downgraded Infoblox from a hold rating to a sell rating in a research note on Thursday, May 26th. Piper Jaffray Cos. restated a buy rating and set a $24.50 price target (down previously from $26.00) on shares of Infoblox in a research note on Thursday, May 26th. Finally, DA Davidson restated an underperform rating and set a $18.00 price target on shares of Infoblox in a research note on Thursday, August 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $22.16.
Shares of Infoblox (NYSE:BLOX) opened at 26.32 on Tuesday. Infoblox has a 52-week low of $13.22 and a 52-week high of $26.41. The stock’s market capitalization is $1.47 billion. The stock has a 50 day moving average price of $21.46 and a 200-day moving average price of $18.49.
Infoblox (NYSE:BLOX) last released its quarterly earnings data on Wednesday, August 31st. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Infoblox had a negative return on equity of 4.71% and a negative net margin of 3.83%. The business had revenue of $86.30 million for the quarter, compared to the consensus estimate of $84.51 million. During the same quarter in the prior year, the business posted $0.12 EPS. The business’s revenue for the quarter was down .8% on a year-over-year basis. On average, equities research analysts anticipate that Infoblox will post $0.66 EPS for the current fiscal year.
In related news, EVP Scott Fulton sold 5,492 shares of the firm’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $22.85, for a total value of $125,492.20. Following the completion of the transaction, the executive vice president now directly owns 121,986 shares of the company’s stock, valued at approximately $2,787,380.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jesper Andersen sold 14,358 shares of the firm’s stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $22.85, for a total value of $328,080.30. Following the completion of the transaction, the insider now directly owns 294,738 shares of the company’s stock, valued at $6,734,763.30. The disclosure for this sale can be found here. 3.20% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in BLOX. Marshall Wace LLP increased its position in Infoblox by 4,496.8% in the second quarter. Marshall Wace LLP now owns 1,506,586 shares of the company’s stock valued at $28,263,000 after buying an additional 1,473,811 shares during the last quarter. Jet Capital Investors L P purchased a new position in Infoblox during the second quarter valued at $14,338,000. Norges Bank purchased a new position in Infoblox during the fourth quarter valued at $9,762,000. GW&K Investment Management LLC increased its position in Infoblox by 467.3% in the first quarter. GW&K Investment Management LLC now owns 441,642 shares of the company’s stock valued at $7,552,000 after buying an additional 363,797 shares during the last quarter. Finally, Vista Equity Partners Management LLC increased its position in Infoblox by 14.3% in the second quarter. Vista Equity Partners Management LLC now owns 2,718,943 shares of the company’s stock valued at $51,007,000 after buying an additional 340,000 shares during the last quarter. 92.77% of the stock is owned by hedge funds and other institutional investors.
Infoblox Inc provides enterprise and service provider-class solutions to automate management of the critical network infrastructure services. The Company provides network control, network automation and domain name system (DNS) security though appliance-based solutions. The Company’s solutions combine real-time Internet protocol address management (IPAM), automation of network control, change and configuration management processes and DNS-based infrastructure security in purpose-built physical and virtual appliances.
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