Infoblox Inc. (BLOX) Downgraded by Guggenheim
Infoblox Inc. (NYSE:BLOX) was downgraded by equities research analysts at Guggenheim from a “buy” rating to a “neutral” rating in a note issued to investors on Tuesday.
A number of other research analysts have also recently issued reports on the company. Deutsche Bank AG raised Infoblox from a “sell” rating to a “hold” rating and set a $13.00 price objective on the stock in a research note on Tuesday. JMP Securities cut Infoblox to a “market perform” rating in a research note on Monday. William Blair cut Infoblox from an “outperform” rating to a “market perform” rating in a research note on Monday. Piper Jaffray Cos. cut Infoblox from an “overweight” rating to a “neutral” rating in a research note on Monday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Infoblox in a research note on Saturday, September 3rd. 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 company’s stock. Infoblox has an average rating of “Hold” and an average target price of $22.16.
Shares of Infoblox (NYSE:BLOX) traded down 0.11% during mid-day trading on Tuesday, reaching $26.32. The company’s stock had a trading volume of 3,591,396 shares. The company’s market cap is $1.47 billion. The company has a 50-day moving average of $20.78 and a 200-day moving average of $18.30. Infoblox has a 12 month low of $13.22 and a 12 month high of $26.38.
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Infoblox (NYSE:BLOX) last announced its quarterly earnings data on Wednesday, August 31st. The company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 firm had revenue of $86.30 million for the quarter, compared to analysts’ expectations of $84.51 million. During the same period last year, the firm earned $0.12 earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. Equities research analysts forecast that Infoblox will post $0.66 earnings per share for the current fiscal year.
In related 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 completion of the transaction, the executive vice president now directly owns 121,986 shares in the company, valued at approximately $2,787,380.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 of the company’s stock, valued at $6,734,763.30. The disclosure for this sale can be found here. Insiders own 3.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Algert Global LLC raised its position in shares of Infoblox by 30.4% in the first quarter. Algert Global LLC now owns 46,004 shares of the company’s stock worth $787,000 after buying an additional 10,734 shares during the last quarter. Elk Creek Partners LLC increased its stake in 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 during the period. GW&K Investment Management LLC increased its stake in Infoblox by 467.3% in the first quarter. GW&K Investment Management LLC now owns 441,642 shares of the company’s stock worth $7,552,000 after buying an additional 363,797 shares during the period. Norges Bank bought a new stake in Infoblox during the fourth quarter worth approximately $9,762,000. Finally, Jacobs Levy Equity Management Inc. increased its stake in Infoblox by 63.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 232,717 shares of the company’s stock worth $3,979,000 after buying an additional 90,114 shares during the period. 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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