Infoblox Inc. (BLOX) Downgraded by Stephens to “Equal Weight”
Other analysts also recently issued reports about the company. Zacks Investment Research upgraded Infoblox from a sell rating to a hold rating in a research note on Monday, June 20th. Needham & Company LLC restated a hold rating on shares of Infoblox in a research note on Saturday, September 3rd. Piper Jaffray Cos. downgraded Infoblox from an overweight rating to a neutral rating in a research note on Monday, September 19th. Deutsche Bank AG upgraded Infoblox from a sell rating to a hold rating and set a $13.00 price target on the stock in a research note on Tuesday, September 20th. Finally, William Blair downgraded Infoblox from an outperform rating to a market perform rating in a research report on Monday, September 19th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. The company has an average rating of Hold and an average target price of $22.16.
Shares of Infoblox (NYSE:BLOX) traded down 0.04% during mid-day trading on Thursday, hitting $26.31. The company’s stock had a trading volume of 1,777,747 shares. The stock has a 50-day moving average of $23.49 and a 200-day moving average of $19.25. The company’s market cap is $1.46 billion. Infoblox has a 12-month low of $13.22 and a 12-month high of $26.41.
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 the Zacks’ consensus estimate of $0.06 by $0.02. Infoblox had a negative return on equity of 4.92% and a negative net margin of 3.83%. The firm had revenue of $86.30 million for the quarter, compared to the consensus estimate of $84.51 million. During the same period in the previous year, the business earned $0.12 earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. On average, equities research analysts forecast that Infoblox will post $0.66 EPS for the current year.
In related news, insider Jesper Andersen sold 14,358 shares of the stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $22.85, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott Fulton sold 5,492 shares of the stock in a transaction dated 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 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 owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of BLOX. BNP Paribas Arbitrage SA increased its position in shares of Infoblox by 85.7% in the third quarter. BNP Paribas Arbitrage SA now owns 5,259 shares of the company’s stock worth $139,000 after buying an additional 2,427 shares in the last quarter. DIAM Co. Ltd. purchased a new position in Infoblox during the second quarter worth approximately $116,000. Teacher Retirement System of Texas increased its position in 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 in the last quarter. Seven Bridges Advisors LLC purchased a new position in Infoblox during the second quarter worth approximately $153,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in Infoblox during the second quarter worth approximately $212,000. 92.42% 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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