Piper Jaffray Cos. Downgrades Infoblox Inc. (BLOX) to Neutral
Infoblox Inc. (NYSE:BLOX) was downgraded by equities research analysts at Piper Jaffray Cos. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Monday.
A number of other research firms also recently weighed in on BLOX. Zacks Investment Research downgraded shares of Infoblox from a “hold” rating to a “sell” rating 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. Cowen and Company restated an “outperform” rating and issued a $28.00 price target (down from $32.00) on shares of Infoblox in a research note on Thursday, May 26th. Finally, DA Davidson restated an “underperform” rating and issued 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 issued a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $22.16.
Shares of Infoblox (NYSE:BLOX) opened at 26.32 on Monday. The company’s market cap is $1.47 billion. Infoblox has a 52 week low of $13.22 and a 52 week high of $26.38. The firm has a 50-day moving average of $21.00 and a 200 day moving average of $18.37.
Infoblox (NYSE:BLOX) last posted its quarterly earnings results on Wednesday, August 31st. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates 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 period last year, the company posted $0.12 EPS. The firm’s quarterly revenue was down .8% compared to the same quarter last year. Equities analysts anticipate that Infoblox will post $0.66 earnings per share for the current fiscal year.
In other news, EVP Scott Fulton sold 5,492 shares of the business’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 $125,492.20. Following the transaction, the executive vice president now owns 121,986 shares in the company, valued at approximately $2,787,380.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jesper Andersen sold 14,358 shares of the business’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 $328,080.30. Following the completion of the transaction, the insider now owns 294,738 shares in the company, valued at approximately $6,734,763.30. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. DIAM Co. Ltd. purchased a new position in shares of Infoblox during the second quarter worth about $116,000. Teacher Retirement System of Texas increased 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 period. Seven Bridges Advisors LLC purchased a new position in shares of Infoblox during the second quarter worth about $153,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Infoblox during the second quarter worth about $212,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Infoblox during the second quarter worth about $222,000. Hedge funds and other 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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