Infoblox Inc. (BLOX) Rating Lowered to Neutral at Guggenheim
Infoblox Inc. (NYSE:BLOX) was downgraded by stock analysts at Guggenheim from a “buy” rating to a “neutral” rating in a report released on Tuesday.
Several other equities analysts have also recently issued reports on BLOX. Cowen and Company reiterated an “outperform” rating and issued a $28.00 target price (down 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 report on Thursday, May 26th. Zacks Investment Research cut shares of Infoblox from a “hold” rating to a “sell” rating in a research report on Thursday, May 26th. Piper Jaffray Cos. restated a “buy” rating and set a $24.50 price objective (down from $26.00) on shares of Infoblox in a research report on Thursday, May 26th. Finally, DA Davidson restated an “underperform” rating and set a $18.00 price objective on shares of Infoblox in a research report on Thursday, August 25th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $22.16.
Shares of Infoblox (NYSE:BLOX) opened at 26.40 on Tuesday. The company’s market cap is $1.48 billion. Infoblox has a 12-month low of $13.22 and a 12-month high of $26.41. The stock has a 50 day moving average of $21.23 and a 200 day moving average of $18.43.
Infoblox (NYSE:BLOX) last posted its earnings results on Wednesday, August 31st. The company reported $0.08 earnings per share (EPS) for the quarter, beating the 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 earned $86.30 million during the quarter, compared to analysts’ expectations of $84.51 million. During the same period in the previous year, the business posted $0.12 EPS. The business’s revenue was down .8% compared to the same quarter last year. Equities research analysts predict that Infoblox will post $0.66 earnings per share for the current fiscal year.
In related news, insider Jesper Andersen sold 14,358 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 294,738 shares of the company’s stock, valued at $6,734,763.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott Fulton sold 5,492 shares of the company’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 $125,492.20. Following the completion of the sale, the executive vice president now directly owns 121,986 shares of the company’s stock, valued at approximately $2,787,380.10. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. Elk Creek Partners LLC raised its stake 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 $19,590,000 after buying an additional 278,944 shares in the last quarter. Vista Equity Partners Management LLC boosted 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 worth $51,007,000 after buying an additional 340,000 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Infoblox during the second quarter worth approximately $222,000. Weiss Multi Strategy Advisers LLC boosted its position in Infoblox by 2.8% in the second quarter. Weiss Multi Strategy Advisers LLC now owns 205,506 shares of the company’s stock worth $3,855,000 after buying an additional 5,506 shares during the last quarter. Finally, Harber Asset Management LLC boosted its position in Infoblox by 169.2% in the second quarter. Harber Asset Management LLC now owns 347,319 shares of the company’s stock worth $5,616,000 after buying an additional 218,319 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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