Infoblox Inc. (BLOX) Downgraded by William Blair to “Market Perform”
Several other brokerages have also commented on BLOX. Piper Jaffray Cos. lowered shares of Infoblox from an overweight rating to a neutral rating in a research note on Monday. Needham & Company LLC reiterated a hold rating on shares of Infoblox in a research note on Saturday, September 3rd. Zacks Investment Research upgraded shares of Infoblox from a hold rating to a buy rating and set a $23.00 price target on the stock in a research note on Monday, August 29th. Cowen and Company reiterated an outperform rating and set a $28.00 price target on shares of Infoblox in a research note on Wednesday, August 31st. Finally, DA Davidson reissued an underperform rating and set a $18.00 price objective on shares of Infoblox in a research report on Thursday, August 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $22.07.
Shares of Infoblox (NYSE:BLOX) opened at 26.30 on Monday. The stock’s market capitalization is $1.47 billion. The firm’s 50-day moving average price is $20.78 and its 200 day moving average price is $18.30. Infoblox has a 52 week low of $13.22 and a 52 week high of $26.35.
Infoblox (NYSE:BLOX) last announced its quarterly earnings results on Wednesday, August 31st. The company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.02. Infoblox had a negative net margin of 3.83% and a negative return on equity of 4.71%. The firm had revenue of $86.30 million for the quarter, compared to analyst estimates of $84.51 million. During the same period last year, the business earned $0.12 EPS. Infoblox’s revenue for the quarter was down .8% compared to the same quarter last year. Analysts expect that Infoblox will post $0.66 earnings per share for the current year.
In related news, insider Jesper Andersen sold 14,358 shares of the business’s stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $22.85, for a total transaction of $328,080.30. Following the sale, the insider now owns 294,738 shares of the company’s stock, valued at $6,734,763.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Scott Fulton sold 5,492 shares of the business’s stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $22.85, for a total transaction of $125,492.20. Following the sale, the executive vice president now directly owns 121,986 shares in the company, valued at approximately $2,787,380.10. The disclosure for this sale can be found here. Corporate insiders own 3.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in BLOX. Vista Equity Partners Management LLC boosted its position in shares of Infoblox by 14.3% in the second quarter. Vista Equity Partners Management LLC now owns 2,718,943 shares of the company’s stock worth $51,007,000 after buying an additional 340,000 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Infoblox by 4,496.8% in the second quarter. Marshall Wace LLP now owns 1,506,586 shares of the company’s stock worth $28,263,000 after buying an additional 1,473,811 shares during the last quarter. Elk Creek Partners LLC boosted its position in shares of Infoblox by 36.4% in the second quarter. Elk Creek Partners LLC now owns 1,044,240 shares of the company’s stock worth $11,462,000 after buying an additional 278,944 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Infoblox by 2.6% in the first quarter. Renaissance Technologies LLC now owns 996,400 shares of the company’s stock worth $17,038,000 after buying an additional 24,900 shares during the last quarter. Finally, Jet Capital Investors L P acquired a new position in shares of Infoblox during the second quarter worth about $14,338,000. Institutional investors own 91.25% of the company’s stock.
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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