Piper Jaffray Cos. Downgrades Infoblox Inc. (BLOX) to Neutral
Infoblox Inc. (NYSE:BLOX) was downgraded by stock analysts at Piper Jaffray Cos. from an “overweight” rating to a “neutral” rating in a note issued to investors on Monday.
BLOX has been the topic of several other research reports. DA Davidson restated an “underperform” rating and set a $18.00 price objective on shares of Infoblox in a report on Thursday, August 25th. Cowen and Company restated an “outperform” rating and set a $28.00 price objective on shares of Infoblox in a report on Wednesday, August 31st. Zacks Investment Research upgraded shares of Infoblox from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Monday, August 29th. Finally, Needham & Company LLC restated a “hold” rating on shares of Infoblox in a report on Thursday, May 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. Infoblox currently has an average rating of “Hold” and a consensus target price of $22.16.
Infoblox (NYSE:BLOX) opened at 26.32 on Monday. Infoblox has a 1-year low of $13.22 and a 1-year high of $26.38. The company’s 50 day moving average is $21.00 and its 200-day moving average is $18.37. The firm’s market cap is $1.47 billion.
Infoblox (NYSE:BLOX) last posted its quarterly earnings data on Wednesday, August 31st. The company reported $0.08 earnings per share (EPS) for the quarter, topping 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 company had revenue of $86.30 million for the quarter, compared to the consensus estimate of $84.51 million. During the same quarter in the previous year, the firm posted $0.12 EPS. The business’s revenue was down .8% compared to the same quarter last year. On average, analysts predict that Infoblox will post $0.66 EPS for the current fiscal year.
In other news, insider Jesper Andersen sold 14,358 shares of the company’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 transaction of $328,080.30. Following the transaction, the insider now directly owns 294,738 shares in the company, valued at $6,734,763.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Fulton sold 5,492 shares of the company’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 transaction of $125,492.20. Following the transaction, the executive vice president now owns 121,986 shares in the company, valued at $2,787,380.10. The disclosure for this sale can be found here. Insiders own 3.20% of the company’s stock.
Several institutional investors have recently made changes to their positions in BLOX. DIAM Co. Ltd. bought a new position in shares of Infoblox during the second quarter worth about $116,000. Teacher Retirement System of Texas raised its position in shares of Infoblox by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 7,936 shares of the company’s stock worth $149,000 after buying an additional 961 shares during the last quarter. Seven Bridges Advisors LLC bought a new position in shares of Infoblox during the second quarter worth about $153,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Infoblox during the second quarter worth about $212,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Infoblox during the second quarter worth about $222,000. Institutional investors own 92.77% 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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